Please note when I am talking about domain name, I am talking about blockchain based domain names that are like NFTs.
If you don't know what they are then basically these are domain names that are on the Blockchain (mostly on the Ethereum blockchain) instead of ICANN, therefore they are essentially NFTs that can be transferred and traded.
Furthermore, unless the traditional domain names there are no annual fees so you can just make a one time purchase and own them forever.
In terms of use cases you can actually build a website on them and/or use them as a human readable wallet address.
I have wrote a dedicated article on the same go check it out at https://read.cash/@nomadghada/blockchain-based-domain-names-as-nft-8d4ba8ff
I have acquired a few domain names and made a post about it here on read.cash All of my domains are purchased from Unstoppable Domains because at present I only know of them and ENS. But ENS requires that you pay annual fees to keep them, so not a big fans.
On unstoppable Domains you can buy domain name with different extensions, some are cheaper then others but there is also exist the tier base system as well to price these domains.
Pricing Tiers
The cheapest are the tier 9 domains which are essentially (8+ Characters) with at least one number as a character. Source
However, at present I was able to acquire the following domain at tier 9 price
bch2moon.wallet
1bchclub.wallet
As you can see they are 7 Character with one number
Why put a number?
So there are instances where a number in a domain can look really great like play2win or pay4homes where you are replacing 'to' with '2' and 'for' with '4'.
But these are not the only examples of a good domain with numbers in the name. And when buying these domain from unstoppable domains you can get them really cheap.
What to do with a good domain name?
Well you can use them for yourself or you can sell them for a higher price. You can list them on Opensea (those that are Ethereum based NFTs) and if the domain you brought is really good you can make a decent profit.
Do note that these domain names are relatively new and you may have to hold them for couple of years when web3.0 would make them more common and in use by the general population.
How to choose a good domain?
Sometimes you might thing that your idea is mind blowing but in reality it might not be, but there is a way to do some research and check the key words that you are using are in traffic and demand at Google.
This is not a sure shot thing but if it a good enough term for the Google search engine that you can expect that their would be traffic and demand for those key words.
Ideally you need a key word that has high Search volume, low SEO difficulty and high Cost per click (CPC).
One way to check this is at Neil Patel's website https://neilpatel.com/ubersuggest/
Will I make a profit?
There is no guarantee that you will make a profit but it is guaranteed that you won't make a profit if you don't try.
This is why I am making a post, so to urge you to try it at least once, if you can find a good keyword with number in it then you can acquire is for as low as $5 for the .wallet, .nft, .888 or .dao domain extensions; assuming no one has brought it already.
And people are buying them really fast, so if you have an idea then act fast before some else acquire it.
Also if you used this link then you will get $10 off their first purchase. Use this link
Decentralized Web
In any case by participating in this project you are support the decentralized web that is censor resistant. So that is a good cause to get behind.
Furthermore you can pay with Crypto to buy these domains and BitcoinCash (BCH is also supported.
I know we don't like to part with our BCH, but it is a currency and should be used as such. Moreover like I mentioned above if you are willing to do some hard work and research key words then you could essential buy a great domain for as low as $5
Literally there is not reason not to buy one.
Final thoughts
I really wanted to buy a domain but when I checked it today, it was already taken.
That domain name is valleyofplenty.coin
If you are a fan of 'The Witcher' series then you would know why that domain name with the .coin extension is so desirable.
I missed it on unstoppable domains, now the person who has brought would have paid $40 for it and can now charge anything for it on the secondary market like opensea.
Just my luck
Anyway if you have an idea then don't miss it, check it for traffic, SEO and CPC and if there if traffic and demand then buy it fast before someone else buys it before you.
