DomainSherpa – Down The Rabbit Hole – March 7, 2024: NameJet, SnapNames and the Domain Aftermarket
Mar 8, 2024
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Join the Rabbit Hole Gang as they dive into the domain name aftermarket, exploring platforms like NameJet and SnapNames. They discuss the domain lifecycle, inventory types, ccTLDs vs gTLDs, and share strategies for domain acquisition. Learn about bid increments, platform challenges, and the evolution of domain selling platforms. Discover the value of descriptive domains, trends in domain sales prices, and the potential of new GTLDs in the domain industry.
The discussion highlighted the challenges and improvements needed in the domain aftermarket ecosystem, focusing on platforms like NameJet and SnapNames.
The potential benefits of introducing real-time trading and settlement features in the domain aftermarket were emphasized for future growth.
Efficiency gains and transformative potential were discussed in relation to real-time domain trading, settlement, and payments, drawing parallels with NFT platforms.
Efforts to increase domain trading efficiency and liquidity through tokenization and linking digital ownership to physical domain names were explored.
Strategies for domain investors include setting backorders across platforms to catch expiring domain names efficiently and enhance portfolio growth.
Deep dives
Exploring the Domain Aftermarket Ecosystem
The podcast delves into the domain aftermarket ecosystem with a focus on platforms like NameJet and SnapNames. It discusses the history and operation of NameJet, now merged with SnapNames. The conversation explores the lifecycle of domain names, the various inventory types on these platforms, and the implications of CCTLDs and new GTLDs in the aftermarket.
Enhancing the Domain Aftermarket Experience
The discussion revolves around improving and enhancing the domain aftermarket now and in the future. It touches on the challenges faced in the aftermarket, the value propositions linked to new GTLDs and descriptive domains. The need for a cooperative approach among competitors to introduce real-time trading, settlements, payments, and transparency features is highlighted as a potential key for future growth.
Challenges and Solutions in Domain Market Efficiency
The conversation highlights challenges with auction integrity, fraud risks, and inefficiencies in the domain market. It discusses the concept of leveraging registrar control to enable real-time trading, settlements, and payments within the domain ecosystem. The potential benefits of such a system in amplifying domain trading efficiency and transparency are emphasized.
Transitioning Towards Real-Time Domain Trading
The discussion explores the vision for real-time domain trading and settlement, drawing parallels with the benefits seen in NFT platforms. The efficiency gains and transformative potential of a system that offers real-time trading, settlement, and payments in the domain aftermarket are highlighted as drivers for future market growth and increased financial opportunities.
Efficiency and Liquidity in Domain Name Trading
Efforts are focused on making domain trading more efficient and increasing liquidity. Concepts around linking domain ownership to tokenization to encourage liquidity and automation in trades. The discussion highlights the need for instantly reflected updates between digital ownership like NFTs and physical domain names. Suggestions include creating links to ensure updates in registries parallel tokenized domains.
Domain Expiry and Drop Catching Dynamics
Discusses the dynamics of domain expiry and drop catching processes. Expired domains flow into the drop efficiently if not sold in the expiry phase. Various registrars handle expiry differently, impacting how valuable domains end up in the drop. Strategies like setting backorders across platforms to catch expiring domain names are vital for domain investors.
Incentivizing Domain Ownership and Trading
Exploration of incentivizing domain ownership and trading through sharing value along the lifecycle. Ideas like decentralized referral systems to enhance domain sales lead to wider market access. The discussion includes the complexities of affiliate programs in domain trading, focusing on mitigating liabilities and ensuring domain usage compliance in incentivization strategies.
Domain Investment Buying Opportunities and Strategies
One of the main points discussed in the podcast revolves around the importance of utilizing various tools and strategies to capitalize on domain investment buying opportunities. The speaker emphasizes the significance of automation, tooling, and effective money management in acquiring domain names. They highlight the necessity of exploring different avenues such as expiring domains, drop catching services, and special domain auctions like dot AI. The key takeaway is the emphasis on securing domains early at a reasonable price to build a diverse portfolio, underscoring the essential role of domain acquisition strategies.
Evolution of Domain Name Value and Market Trends
Another key insight from the podcast focuses on the evolution of domain name values and market trends, particularly in the context of the increasing average sale prices over the years. The discussion delves into the gradual rise in domain sale values, attributing it to industry maturation and emerging trends like new GTLDs and dot AI auctions. The conversation underscores the potential for expanding the domain market through diverse domain extensions and the identification of value in alternative namespaces. It also addresses the importance of strategic domain investments and the overall growth and adaptation of the domain industry over time.
As we say on DomainSherpa - all roads lead to domains. And in the reverse, domains has us venturing "down the rabbit hole" into different topics all the time. This is a tech-adjacent, digital asset, pop-culture, tangent-positive monthly podcast - with some domains stuff thrown into the mix for good measure.
In this episode, JT is joined by Drew, Matt Overman of Identity Digital, and Mike White of Newfold Digital to discuss the domain name aftermarket. Mike manages NameJet and Snapnames on behalf of Newfold, Matt and JT were both previous GMs of NameJet, and Drew was one of NameJet's power users in the past and they all dive into the platform and how it operates in the domain aftermarket ecosystem. They also discuss the domain name lifecycle, different types of inventory on the platforms, how ccTLDs and gTLDs operate in the aftermarket, and a whole lot more!
So, tune in and jump down the rabbit hole with the Rabbit Hole Gang!
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