In a shocking move that proves just how popular the NFT space is, the domain name NFTs.com has sold for $15 million. The acquisition is the largest sale of public domain names this year. Also, the sale of the NFTs.com domain is now the second largest public domain deal ever. Domainer.com, the domain specialists and GoDaddy played a crucial role in getting this deal done. Escrow.com provided its escrow services and also confirmed the transaction.
NFTs.com domain for $15 million sale!
The sale of the NFTs.com domain is a huge win for the crypto world. Aside from the 2019 purchase of Voice.com for $30 million, no other domain sale has come close in the last ten years.
Jackson Elsegood, General Manager at Escrow.com, said: “The recent acquisition of NFTS.com is one of the largest web3-related transactions we have seen on the platform.”
Notably, the Voice.com sale was to a blockchain company. Now the two biggest domain acquisitions of the last ten years have tied to crypto. Interestingly, Voice.com is technically the most expensive public domain name purchase ever. There have been others, but these were already large online businesses with an established domain.
The future of the NFTs.com domain
Both parties in the NFTs.com domain sale are anonymous, so plans for the site remain unknown. However, the site now has a text line on the landing page that reads “Powered by DigitalArtists.com Marketplace”. This is a web3 art platform that offers curated NFT drops and services to artists.
Lead broker on the deal, Matt Holden, said: “It was a pleasure working with all parties involved with NFTS.com, an incredible opportunity for the buyer to acquire a category-killer domain and one of, if not the best, possible .com is in the entire web3 domain.”
Due to the links to web3 and the name of the domain NFTs.com, it is likely to become an NFT marketplace or hub offering NFT services.
Why are domain names so important?
Considering the rise of NFTs in recent years, the domain offers enormous potential and is a great asset. NFTs are a key part of the web3 ecosystem, changing how we view ownership of digital assets, supporting the metaverse economy, the P2E gaming industry and much more.
The rise of blockchain domains
In the past year, blockchain domains have become increasingly popular. Last month, Unstoppable Domains, web3’s digital identity platform, raised $65 million in Series A funding. Furthermore, it is now valued at $1 billion, giving it unicorn status.
Unlike the NFTs.com sale, Unstoppable Domains sells domains ending in .crypto, .nft, .bitcoin and other web3 phrases. Blockchain domains are unique in that they offer a decentralized option. It is essential that these domains are not held on a server like traditional domains. Instead, they are on a public register.
This innovative technology offers new levels of security and the domains are represented by an NFT. Plus, once you have the domain, it’s yours forever!
There have been some huge sales of blockchain domains and in the future, traditional domain sales like the NFTs.com sale will happen through NFT technology.