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Domain Investing Stats and Tips

NFTs and Digital Real Estate

March 18, 2021 by Raymond Hackney

NFTs

Janine Yorio wrote an interesting article over at CoinDesk.com, “What NFT Sales Mean for Digital Real Estate” The article looks at the recent activity in NFTs and comparing them with domain names. Of course NFTs are hot right now. Everything from NBA TopShot cards to digital art from the likes of Banksy.

Seth Godin did publish a piece recently that he sees NFTs as a dangerous trap.

Janine talks about fake land and the recent prices of certain NFTs.

From the article:

Website domain names are another virtual asset, just a combination of letters that exist only online. Dozens of domain names have sold for more than $10 million apiece. (The most expensive domain name sale was for carinsurance.com, which sold for $49.7 million.) Yet, we have made peace with the fact that certain domain names trade for high prices because they are considered to be more “rare.”

So when a friend recently asked me, “Why would I pay real money for fake land?,” I explained that digital real estate is like a combination of NFT art and domain names. That’s because the marginal cost to produce a digital parcel of land is almost nothing, and its value is more closely related to its perceived scarcity than to its actual utility.

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Filed Under: Crypto, NFTs, Web/Tech

About Raymond Hackney

Raymond Hackney has been involved with domain names since 1997. One of the most prolific writers in the domain industry and founder of TLDinvestors.com and 3Character.com

Comments

  1. Snoopy says

    March 18, 2021 at 6:23 pm

    What can be said when she clearly hasn’t done proper research on the domain market (ie claiming sales of established businesses as domain sales – carinsurance.com).

    Probably throw out the whole article in my view because I doubt any of it is researched properly.

    • Raymond Hackney says

      March 18, 2021 at 8:07 pm

      Yeah I emailed, that sale is quoted on too many sites as a domain name sale.

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