Freelancer the parent company of Escrow.com released their Q1 2023 business update. Escrow.com saw a bounceback in the quarter.
“Aftermarket domain name volumes are back and are being propelled by a boom in AI-related domain names, such as the Chat.com deal in March and the sale of Prompt.com. It’s not only domain names that are benefiting from this boom, we’re also seeing an increase in the sale of AI-related trademarks, applications and businesses through our platform,” said Matt Barrie, Chief Executive of Escrow.com.
Escrow.com saw its best quarter since 2Q22, as transaction volume rebounded. Gross
Payment Volume (GPV) was AU$268.6m down 5% on pcp or (US$183.2m down 10.7% on
pcp), but up 47% quarter on quarter. Strength continued into April as of the time of writing of this report.In the quarter we saw a resurgence in large value transactions ($1m+) with 1Q23 domain
name volume being on par with 1Q22. As commented previously, we expect to see growth in that segment this year with an anticipated boom in venture capital following into startups capitalising on generative AI. In the quarter, we also handled the purchase of chat.com,prompt.com and NewYork.com, among others.You can view the whole report here
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