DomainSherpa Review – December 14, 2023: .AI Domains, Changing the Game or More of the Same?
Dec 14, 2023
02:08:24
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Andy and James Booth, along with Josh Reason, join the podcast to discuss .AI domains and the future of AI. They delve into their personal journey in the domain industry, the evolution of the domain industry, and the potential impact of AI on industries and democracy. They also emphasize the importance of quick decisions in the domain industry and explore the possibility of living in a simulation. Tune in for insightful discussions and reflections on the events of 2023!
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Quick takeaways
AI domains have the potential to generate significant profits for top-tier names.
AI is a transformative technology that will impact society and create ongoing demand for premium AI domains.
Dot AI domains are growing in value and demand as AI technologies advance and gain traction.
Investing in dot AI domains requires careful evaluation and selection to ensure qualitative and relevant value.
Deep dives
Andy's transition from hunter to hunter-gatherer
Andy started as a hunter in the domain industry, focusing on liquid domains like three-letter and two-letter dot coms. He would find defunct websites or unsophisticated owners and flip these domains for a profit. This strategy helped him accumulate capital and build his domain portfolio.
James's transition and partnership with Andy
James joined the domain industry and initially started working with Andy, helping him hunt for premium domains. After gaining experience and capital, James transitioned to being more autonomous, buying and flipping domains on his own. He found his own path in the industry while still maintaining a partnership with Andy.
Drew's perspective on the AI domain market
Drew and Andy share the belief that top-tier AI domains, such as art.ai and home.ai, will always have demand and can generate significant profits. However, Drew expresses concern that for the majority of AI domain investors targeting the long tail, there may not be a high demand or a path to profitability. He believes that most AI companies will eventually be acquired or their features integrated into larger AI models, limiting the demand for many AI-specific domains.
The future of AI domains
Andy believes that AI is a transformative technology that will have a profound impact on society. He sees ongoing demand for premium AI domains, especially those that encompass key AI-related terms. He also believes that AI tools and companies will continue to emerge, creating a need for relevant domains. While there may be variations in opinions, the potential and value of select AI domains remain significant.
The Rise of AI and Its Impact on Domains
AI is a paradigm shift and will have a significant impact on the domain industry. While dot com will always remain the top choice, companies in the AI space are increasingly using dot AI domains to showcase their AI-forward brand. The value and demand for quality dot AI names are growing, especially as AI technologies continue to advance and gain traction. Although domain investors need to be cautious and selective with dot AI investments, as the market matures, six to seven figure sales are expected for the best dot AI domains. Domains will continue to play a crucial role in the digital landscape, especially in niche industries like AI.
The Importance of Quality and Relevance in Domain Investing
The value of domain names lies in their qualitative and semantic relevance. Understanding the specific names that have inherent value in each namespace is key for domain investors. While dot com will always be the top choice, other namespaces like dot AI have their own set of valuable names. Recognizing the potential and value of relevant dot AI names and acquiring them at the right price can lead to profitable investments. Domain names will continue to rise in value as long as investors have the ability to identify and acquire quality and relevant names.
The Uncertainty of the Future and Domains
Predicting the future of domains is challenging, as emerging technologies like AI can bring significant changes. While AI has the potential to reshape industries, it's difficult to determine the long-term impact on domains. However, domains are expected to remain an important component of the internet landscape. As AI technology continues to advance and integrate with human life, the demand for domains that effectively represent AI companies and products is expected to increase.
The Need for Critical Thinking and Caution in Investing
Investing in the dot AI domain industry requires critical thinking and caution. While there is the potential for significant returns, domain investors must carefully evaluate and select dot AI names that have qualitative and relevant value. Consulting with experienced investors and understanding the current market trends and technologies is essential for successful dot AI domain investments.
What do successful domain name investors think when they value domain names?
In this show:
- Andy and James Booth come on the show, along with Josh Reason, as the Sherpas skip The Domain Game and instead focus on .AI domains - as Andy and James have made headlines recently with some big .AI sales and purchases while Drew has been more bearish;
- They get into the history of how the Booth brothers entered the domain industry;
- The Sherpas do a deep dive into AI and .AI domains; discussing the future of AI, .AI's role in the domain industry, and whether the Sherpas see a future without the need for domains;
- JT mentions the upcoming ICA meetup in Las Vegas. Don't forget to register for the event today and book your hotel before it's too late;
- Also, DomainSherpa is now integrating with Muse.ai for episode transcripts and an AI-driven video player to easily look for topics, words, phrases, etc., and jump to the points in the video where they occur. Let us know your feedback!
- Plus, all DomainSherpa podcasts are now up on our YouTube channel at DS.tv and much more!
JT is joined by Drew, Josh, and special guests James Booth and Andy Booth - so be sure to tune in!!
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