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NFTs.com Domain Name Sells For $15 Million

NFTs.com‘ will have a new owner after the domain was reportedly acquired for $15 million by an undisclosed buyer. The acquisition comes as the largest public domain name sale so far this year, and the second-largest public domain deal ever. 

The deal was brokered by ‘Domainer.com‘ and ‘GoDaddy’. The sale was facilitated by ‘Escrow.com‘, which provided escrow services and confirmation for the transaction.

One of the Biggest Ever Domain Deals

The sale of the NFTs.com domain name is a massive deal. The acquisition ranks as the second-biggest public domain deal ever, and the biggest public domain name sale this year.

In 2019, MicroStrategy sold the ‘Voice.com’ domain for $30 million in cash, becoming the biggest domain sale deal of the last ten years at the time. The domain name was purchased by blockchain-based social media platform Block.one, which subsequently launched blockchain-based social media platform, ‘Voice’.

Jackson Elsegood, General Manager at Escrow.com, said in the official press release:

“The recent acquisition of NFTS.com is one of the largest Web3-related transactions we’ve seen on the platform.”

Lead broker on the deal, Matt Holden from the Domainer.com team, said:

“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 ".com’s" in the entire Web3 space.”

Probable Use as an NFT Marketplace

The parties involved on either side of the domain deal are undisclosed, and the future plans for the ‘www.nfts.com‘ website remain unknown. However, upon opening the website, visitors are greeted by the message “Powered by DigitalArtists.com Marketplace” on the landing page.

Digital Artists claims to be a curated NFT art platform for new and established artists, art collectors, NFT drops, and collaborations in Web 3.0. NFTs.com is therefore likely to become an NFT marketplace, or a hub offering NFT services.

“Although no formal plans have been publicly announced regarding a project at NFTs.com, Domainer can report that the buyer has associations with other web3 projects, such as DigitalArtists.com, which offers a curated web3 service to artists,” Escrow.com disclosed in the press release.

On the Flipside

  • NFTs boomed in 2021. However, there are signs of the NFT market normalizing at yet.
  • The use cases of NFTs and their impact on digital ecosystems are becoming increasingly important criteria in the valuation of NFTs.
  • NFT sales on secondary markets fell 25% in July from levels of $650 million in June, marking their second month in a row under the $1 billion, according to data from NFT data aggregator CryptoSlam.

Why You Should Care

  • The domain is a huge asset and offers a lot of potential, especially given the emergence of NFTs in recent years. NFTs play a crucial role in the Web 3.0 ecosystem, transforming how digital assets are owned, and enabling the growth of the metaverse economy, peer-to-peer gaming, and other sectors.
  • Over the past year, blockchain domains ending in .crypto, .nft, .bitcoin, and other Web 3.0 terms have become increasingly popular. Blockchain domains are unique because they aren’t stored on a server, as in the case of traditional domains. Instead, they are held a public registry.
  • Last month, Unstoppable Domains, the Web 3.0 digital identity platform, raised $65 million in a Series A funding round. Following the financing, the company now holds a valuation of $1 billion, giving it “unicorn” status.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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Paulina is a writer, journalist, and digital craftswoman. She comes from anthropology, art & IT backgrounds, and her writing varies from screenplays for theatre, poetry, or culture to fintech and blockchain. On DailyCoin, Paulina covers in-depth stories and exclusive interviews.