NameSilo

Selling domains on OpenSea? Your thoughts.

Labeled as debate in Domain Buying and Selling Discussion, started by TheBuyerz, Jul 23, 2021

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  1. TheBuyerz

    TheBuyerz Established Member

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    Hi,

    NFT.APP, this domain name was sold recently for 50,000$ on DAN, and now redirecting the domain name to a webpage pointing to OpenSea... he/she is reselling the domain following this process:

    1- He provide the auth code for the NFT
    2- Domain name remain locked until someone buy it

    There is a possibility that the reseller modify the auth code and any scammer out there can claim any ultra premium domain (even 1.com etc...) and resell there. I don't know if OpenSea verify identity of accounts (KYC), I see this as the only way to trust the seller but it's agains't decentralization principles.

    I was curious about selling domain names on OpenSea from long time now, what do you think about all this?
     
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  2. Steven McEvoy

    Steven McEvoy CEO, SUWP VIP

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    See what I don't get is that technically you do not own a domain so how can you sell it on Opensea if its not a NFT?
     
  3. TheBuyerz

    TheBuyerz Established Member

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    I rented it atleast for one year (or several years), and it's permitted to rent it (resell it) for another person, this make it an NFT for a limited time /or precisely limited depends on my will and my pocket to renew it for years. And I showed a real example of someone else doing same.

    This is another debate and this don't reply to the question I asked.

    First and oldest domain name registered: Symbolics.com, and still operating until now (he/or they held ownership since March 15, 1985)

    Thanks anyway for your opinion.
     
    Last edited: Jul 23, 2021
  4. Steven McEvoy

    Steven McEvoy CEO, SUWP VIP

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    What!?? you literally asked what do we think about all of this... "about selling domains on OpenSea"

    Giving you what I thought about it...
     
  5. TheBuyerz

    TheBuyerz Established Member

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    You don't believe on domain names as NFTs, while I am asking on selling domains on OpenSea (Platform related to NFTs). The debate is about to know if it worth it, pro/con, solutions, etc.

    You had gunned down the debate from the start lol

    At the moment, I see more randomely generated images of cats, dogs etc. selling on OpenSea other than useful products with real values ... we all know about decentralized domain names introduced by Unstoppable Domains, this last days we see new extensions coming at a fast rate, they offer a good solution by they have control about domain names which is not far different from the traditional centralized one. You can sell this crypto domains on OpenSea easily since they are made for ... but how about .COM etc... Looking for solution about this.

    Why not a system to transfer a domain name to a trusted account (it's required since we are dealing with centralized domains), they submit it to ethereum blockchain and then they gives us the right and a way to sell it on OpenSea? Companies like @epik @Dan @Dynadot @namesilo @Rob Monster can do this IMO.

    This is the kind of thing I am looking for, sorry for the confusion and again thank you for your opinion.
     
    Last edited: Jul 23, 2021
  6. CraigD

    CraigD Top Contributor VIP

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    If the scenario you have outlined is possible, then why risk using that platform or NFT?

    Why make things more complicated than they need to be?

    Sell domains the traditional way on an established platform.

    Apologies in advance if I have misinterpreted what you mean ;)
     
  7. barman

    barman Top Contributor VIP

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    This is just a marketing gimmick. Using an NFT platform to market and hopefully sell the name. Whether it works or not, is a different story. There's nothing groundbreaking about what he's doing.

    The funny thing is the description "Please note, upon successful payment I'll arrange for domain to get unlocked."

    So all this talk about trustless, decentralized blah blah on the blockchain, he still has to go and unlock the domain name and send the auth code to the buyer manually. The buyer is relying entirely on the honor system and there's nothing stopping the seller from just keeping the money
     
  8. Steven McEvoy

    Steven McEvoy CEO, SUWP VIP

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    Hey guys be careful now he doesn’t want an open discussion about selling domains on opensea…
     
  9. TheBuyerz

    TheBuyerz Established Member

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    They answered to the question ... do not take it personally please.

    Thanks all for your view about the way the seller procceeded.

    Selling on opensea expose your product to an active buyers that do not hold them self to pay. And also if your domains are related to crypto niche then you get your potential end users from there.

    As resellers we will not say NO for another source of end users.

    +1 for marketing, agreed.
     

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