Two weeks ago a spike occurred in the amount of crypto-currency related purchases. Sedo, a domain parking provider, showed five of the 14 end-user sales associated with cryptocurrency. The term "end user" in this context refers to individuals who purchase a domain with the intent to grow it, rather than flip it or sell it for a profit. This comes during a time when cryptocurrency rates continue to surge and new cryptocurrencies are spawning.
According to Domain Name Buyer, a news source for the domain industry, domain buyers included an LED lighting seller, a German engineering firm, a boating site, and several others. One of the domain sales, Balancer.fi, features an automated cryptocurrency trading platform. Another purchase, NFTdex.com, appears to function as an exchange for non-fungible tokens.
Several crypto bloggers that flagged the initial surge in crypto domain purchases are unsure as to whether this batch of sales is an anomaly or calculated move. Either way, it's no secret that even before this month's bulk purchases occurred, many domain sales were tied to NFT companies and cryptocurrency.
Undoubtedly, domain flippers will continue to sweep domains in search of potentially profitable sales. Unlike end users, domain flippers work independently or with a domain broker to find domain names they think will be purchased later down the line. In most cases, the domain buyer doesn't do anything to the domain; they simply wait for it to mature and keep it parked until a potential buyer comes along.
With interest in cryptocurrency rising, there's a myriad of potential domains to be purchased and flipped. Crypto currency-related domain names are being snatched up-often at a low price-and sold for a premium.
Professional domain flippers are able to spot trends and even purchase domain names for companies that don't yet exist based on name meanings, syntax, and sound. Consider this: Ethereum is the largest open source blockchain network. The word "ether" refers to the "hypothetical, invisible medium that permeates the universe and allows light to travel." Ethereum.com was registered in March 2011 and had no connection to cryptocurrency or blockchain. Today, Ethereum lists its website for sale at $10 million.
There are several cryptocurrency-related domains for sale today, including 360crypto.com for $30,000 and Bitcointransfer.co for $12,000.