news Alter ceasing operations

[Mkt Sales Leads]

Email received today:

Farewell​ Hi there, First and foremost, I would like to thank each and every one of you for using Alter to sell your domain names. We couldn't have come this far without your invaluable support. Over the last couple years we've been on a mission to transform the domain industry. However, despite all our attempts we weren't able to find a sustainable business model. So it is with a heavy heart I write to you today to say farewell. On April 2nd, all third-party domain listings will be removed from our marketplace. Seller accounts will remain active for the foreseeable future so those with a positive balance or pending installments can continue to cash out. Lastly, we realize this decision wouldn't be fair to sellers who spent money to have professional logos designed on our platform. So we have refunded all relevant payments back to your account balance which can be cashed out at any time. We truly wish you all the best in your future endeavors. It’s unfortunate that this wasn’t the outcome we wanted but we’re thankful to everyone that came with us on the journey. Sincerely, Deven Patel Founder & CEO

 

[Future Sensors]

As previously mentioned, Alter is going to shift directions in one of two niches (either general marketplace or brandable marketplace) and depending on that shift, there will be major changes in its operations.

I have not received any official communication about these plans from Alter. What is your source?

 

[william]

LOI sent to Deven, hopefully transition will start early next week, once Definitive Agreement is final and Escrow transaction processed. Let's shake things up in brandable domain marketplace

I'm guessing the acquisition price was $100K.

 

[DomainRecap]

I wonder what the big costs were. Trying to run before they could walk? Would be interesting to know.

I would imagine paying for promotion and traffic generation.

 

[F.E.]

Probably they forgot to close listing page

 

[Future Sensors]

Probably they forgot to close listing page

These are new domain registrations.

 

[F.E.]

Oh, I thought I was bidding against some major player

https://twitter.com/x/status/1507111574414180357

 

[Mkt Sales Leads]

that's the whole point of any marketplace: to generate sales. I'm 100% positive that Deven had best intentions and plan for Alter, but that plan required capital sacrifice and operating in net loss for many years, and investing your own money if you'd like to compete with others. Aside that, low commission also brought a lot of lesser quality names which also polluted overall domain portfolio, and blurred lines (I talked about this previously) between brandable domain marketplace and general domain marketplace, so Alter ended up competing with Brandbucket, Squadhelp and others while in reality all that time, those were not its competitors.

If you're going to acquire the appraisal tool, be mindful that it's fallible (like many are - see attached):

 

[F.E.]

If you read my previous messages carefully, you should understand that if I am the onez this message actually helps me, as all of the domains sooner or later will be reviewed and majority of them removed.

Thanks for the heads up though

 

[alcy]

I like the name
..a lot..what u guys just for fun think a name alter is worth? just name value

 

[likemike]

I was also sad to see Alter go but very good of Deven to send out a press release. Perhaps someone else will buy the site and take it in another direction. Any takers?

 

[LoveCatchyDomains]

Just got lucky enough with several small bets (like Gamestop and AMC) and few long term (BTC, ETH, FAANG) fyi.

Damn, you're good!

 

[Edukar]

Hi, does anyone know when it will be possible to add new domains to Alter? It's support is stubbornly silent

 

[Mr.company]

Please contact me @Deven Patel to talk about alter . I can help you to take you next level if not please contact me privately to negotiate the purchase of it.

 

[buydomainnames]

Waiting for @Deven Patel comment