Just to give you an idea of how popular the NFT space has become, a domain name NFTs.com has been sold for a shocking amount of $15 million. This marks the record of the largest sale made on public domain name this year. You may know the domain specialists GoDaddy and Domainer.com, who both played a crucial role in completing the deal. Escrow.com provided their services and also have confirmed the transactions.
$15 million Domain Sale – NFTs.com
In the crypto world, the sale of NFTs.com domain is considered a huge win as there has been no other domain sale to come near the $30 million purchase of Voice.com in the past 10 years.
“The recent acquisition of NFTs.com is one of the largest Web3-related transactions we’ve seen on the platform.” This was said by Jackson Elsegood, General Manager at Escrow.com.
Notably, the sale of Voice.com was to a blockchain company. This was actually the most expensive sale made on a public domain ever recorded. There have been others but were already huge web businesses with an established domain. Now, the biggest domain acquisition in the last 10 years has ties to Crypto.
What This Means For NFTs.com Domain
As the domain sale was completed anonymously on both parties, we are yet to know the plans for the website. But the website has a line text on the landing page that says “Powered by DigitalArtists.com Marketplace.” If you know this, it is actually a Web3 art platform with curated services to artists for any upcoming NFT drops.
Lead broker, Matt Holden said this, “ It was a pleasure to work 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 .coms in the entire Web3 Space.”
Since the domain NFTs.com has links to Web3 and that ‘NFTs’ is in the name itself, we can expect the domain to be turned into an NFT marketplace or a hub for NFT services.
The Importance of Domain Name
Taking into account the rise of popularity in NFTs the past few years, we can see that the domain has huge potential in becoming a great asset for the NFT space. NFTs are an important part of the Web3 ecosystem, changing how we look at digital assets and ownership of them. This also means supporting the Metaverse economy as well as P2E Gaming industry and so much more.
Blockchain Domains On The Rise
Blockchain domains have been on the rise since last year. Remarkably, Unstoppable Domains raised $65 million in series A funding just last month. Now, the Web3 digital identity platform has a valuation of $1 billion giving it a special status.
Domains on Unstoppable Domains end in .crypto, .nft, .bitcoin and other web3 phrases which is unlike the NFTs.com sale. What’s unique about these blockchain domains is that they are decentralised and are not kept on the server like traditional ones but they are on a public registry.
To sum up, this means new levels of security are in place for the domains and they are also NFT-represented. Additionally, once you have a domain, it is yours forever.
There have been some huge blockchain domain sales and in the future there will also be traditional domain sales like the NFTs.com that will take place but will be through NFT technology.