Why cryptocurrency domain names were a good bet

0
106

Domains seem cheap to early investors in cryptocurrencies.

Sedo’s top public domain name sale this week was CryptoNews.com at €43,000.

This is the latest in a string of cryptocurrency related domain names that have sold. The most storied sale was probably BTC.com for $1 million back in 2014.

Whenever a new technology comes out people rush to buy domain names related to it. Remember the 3D craze and all of the 3D domains people registered?

But crypto domains were an exceptionally good bet because cryptocurrencies have made their owners rich. Things like 3D technology take time to develop and potential buyers for the domains are usually trying to conserve cash, not spend it. But someone who invested in bitcoin, Ethereum and the like are in a different situation. Some of them are playing with “funny money”. A €43,000 domain purchase by someone who invested in bitcoin back at the end December 2011 is the equivalent of €30!

Although that’s really early, even more recent entrants have seen their holdings balloon in value. Someone who bought Ethereum at the beginning of this year has made almost a 30x return.



© DomainNameWire.com 2017. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact copyright (at) domainnamewire.com.

Latest domain news at DNW.com: Domain Name Wire.

The post Why cryptocurrency domain names were a good bet appeared first on Domain Name Wire | Domain Name News & Views.