A NamePros user shared his story about how a .Loan domain he registered six MONTHS (not minutes, hours or even days but M-O-N-T-H-S) ago was clawed back by the registry. I’m sorry but this is yet another reason why the entire new gTLD “phenomenon” is starting to look more and more like amateur hour.
I’m sorry but when something like this happens, action needs to be taken quickly.
Let me ask you, what would have happened if the current registrant had sold the domain to someone else for $10,000 (random number) three months ago?
The new owner would have found out today that he lost his entire $10k investment… who would have compensated him? Nobody.
Or what if the owner would have created a forum and invested $50,000 in promoting it? Good luck with that.
Again, this is “amateur hour” behavior which makes it clear for the gazillionth time that investing in new gTLDs just doesn’t make sense.
And come on, it’s not like this is the only example of a domain being clawed back.
Theo gave the Credit.Club situation as an example of how something like this should be handled. Someone registered Credit.Club despite the fact that the domain should have theoretically not been available. What ultimately happened? The registry admitted its mistake and allowed the registrant to keep the domain.
Now perhaps in this case, something like this wouldn’t be possible for whatever legal mumbo jumbo-related reason.
Fine, you’re forced to take the domain back.
But for the love of God, you as the registry (Famous Four Media, in our case) should reach out to the registrant, apologize and COMPENSATE the person in question.
Again, business 101.
One of the many problems with new gTLDs is that for every well-run string (.Club is a good example of a decently-run business, I don’t own any domains in the extension for what it’s worth), there are lots of poorly managed ones.
As such, people decide (rightfully so when it comes to domainers IMO!) to just stay away.
I mean come on, it’s not much of a value proposition.
“Hey guys, do you want to invest in over-priced domains for which there’s zero reseller market interest and low end user demand? Oh and we might take ‘em back in a couple of months or jack up the price 3,000%…”
But whatever, if you *still* think there’s no better use for your money and insist on investing in new gTLDs… good luck.