NameSilo

Why Domain Name Investors Are Buying Up NFTs

Labeled as information in Domain Industry News, started by Lox, Aug 22, 2021

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  1. Lox

    Lox _____ VIP

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    There's a reason domain name investors are flocking to NFTs. And one industry veteran says it's still early days for unlocking NFT investment value.

    Andrew Miller is CEO of ATM Holdings, and has invested in and advised some of the highest-value domain name transactions on record, including recent deals for Home.com, Candy.com, and Universal.com. He founded CreditCards.com and InsuranceQuotes.com, both successful exits.

    He started investing in NFTs in 2021, and acquired his first Bored Ape in August.


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  2. DomainBarracksRob

    DomainBarracksRob Top Contributor VIP

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    Thanks for sharing this!

    I spoke with Andrew this week on LinkedIn after he join the BAYC with this his purchase. Really incredible, and guy has a nack for spotting things that will do well.

    I now own a few NFTs myself as a friend of mine pointed me into the right direction too learn from and join in the excitement, growth and opportunity.
     
  3. Samer

    Samer Top Contributor VIP

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    But to the point of dropping millions on Nfts?

    Pass, but good luck on their investments.

    I would much rather they continue share sales, than the amount they shelled in NFT auction.

    Samer
     
    Last edited: Aug 22, 2021
  4. D Haynes

    D Haynes Top Contributor VIP

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    More power to anyone able to make money from these but as I've said in another thread it's just a status symbol for people with more money than sense.
     
  5. Kingslayer

    Kingslayer Top Contributor VIP

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    Read the article and still don't get it. Not something i'd ever go near.

    The point about seeing a bored ape in a Super Bowl advert, ok but why bored ape?' Why not an happy ape or a confused one or an excited one? Are these the next projects?

    What happens to the 'bored ape' then, still highly desirable and valuable? Very much doubt it.

    Also why the need to have a 'Bored Ape Yacht Club' ape on a Super Bowl ad and not an ape designed by another company/artist if a company wanted an ape mascot?
     
    Last edited: Aug 22, 2021
  6. Lox

    Lox _____ VIP

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    Both artists & investors can claim expenses related to creation or acquisition ... + can avoid gains taxes (US 1031) by holding the artwork etc.
     
    Last edited: Aug 22, 2021
  7. Kingslayer

    Kingslayer Top Contributor VIP

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    Ok that's fair enough, but in terms of investment what is so great about this 'art'?

    I wouldn't look at any of these pictures and think they are masterpieces. If someone put blood sweat and tears into something and is something truly unique, i can understand it, but the company who designed them probably spend about 1 minute on each design changing minimal things from 1 picture to another and same with most nft art.

    I've looked at a few apes now (and various other nfts) and i can't remember the ape what i've just looked at 2 minutes ago and what makes each ape unique.

    It's like, we'll just change this ape to a red colour and stick some sunglasses on him, this one we'll turn yellow and stick a baseball hat on it, these designers or so called 'artists' must be laughing their heads off for the amount they are selling for.
     
    Last edited: Aug 22, 2021
  8. Lox

    Lox _____ VIP

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    It's about $ on hold until the time* come to cash out ($ not going into tax pool) etc. The Art can be a blank paper or a little 1 pix etc. (declaration & method)
     
    Last edited: Aug 22, 2021
  9. Jason Baudendistel

    Jason Baudendistel CEO Wibbets Inc

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    The only NFT I own was free because I traded gift crypto for it. The Proof of God equation. I'm not super bullish on NFT's but figured some form of exposure was worth it.
     
  10. olcayto

    olcayto NameFree.net

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    All i can do to invest in BAYC domain names rather than to buy BAYC NFTs. (quite pricey though)

    Also, I have a feeling of BAYC will be very popular worldwide not only as NFTs also as physical products.

    Edit: Thank you @Lox for opening this discussion.
     
    Last edited: Aug 23, 2021
  11. Grego85

    Grego85 Fire.Horse

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    wonder if there will be ever be a trade market for domains/NFTs
    I'd take a shot and trade some domains for some NFTs.
     
  12. musiquecomforsale

    musiquecomforsale New Member

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    The future of NFT really boils down to one thing. Will people ultimately congregate on one or a select few NFT marketplaces and recognize them as the bearer of truth for ownership of a particular digital art? Because if not, the value of NFT is effectively zero as you can literally put anything on the blockchain.
     
    Last edited: Aug 23, 2021
  13. comRaid

    comRaid Established Member

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    If you got enough cash to gamble for NFTs, better buy at least 3 Axies (NFT characters in Axie Infinity game). In case you do not have time to play silly games, outsource the gaming to lads waiting for Axie infinity scholarships. You can make a deal for sharing revenue on 40:60 or 50:50 rates. On an initial spending for 2K USD, one can earn min 20$- 100$ or more daily perpetual income in crypto (as long as this market lasts).
    (Not a financial advice, Do your own research)
     
  14. DomainBarracksRob

    DomainBarracksRob Top Contributor VIP

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  15. jhm

    jhm Glazed

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    Those involved in domaining are often times involved in "internet things". Cryptocurrency leads on to NFT stuff ...its the same beast

    I'm into art and weird stuff that makes no sense, NFT has it covered. If someone wants to buy a GIF of a dog with his head out the window of a car travelling at high speed with sunglasses on for a small price of 50 grand ...I'm all for it (limited edition, 1 of 30 pieces)
     
    Last edited: Aug 23, 2021
  16. nononsense123

    nononsense123 Established Member

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    NFT's are a sign that We're living in an extreme bubble where greater fool theory is the logic of "investors" and adults behave like children.
    P.S: not at all against someone earning money doing this..lots of intelligent people get rich in bubbles.
     
  17. Kingslayer

    Kingslayer Top Contributor VIP

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    That’s the problem I have with NFT art, would any one really consider the above images as ‘art’ or art that one day in the future is going to be highly desirable/valuable? They look like they have been drawn on MSPaint.

    Last night I was thinking about the comment ‘one day we might see an ape in Super Bowl’ again.

    When buying NFT Art, do you buy the rights to the whole character or just a picture of it? For example in BAYC, do you own the rights to any other different images that gets produced with this character in a different setting/pose/different face expression or animation or do you only own that 1 picture and not the character?
     
    Last edited: Aug 24, 2021
  18. griff

    griff Account Closed (Requested) VIP

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    @Kingslayer BAYC & Punks are collectibles not cryptoart (you can find that on SuperRare.com for example). there are also other categories like utilities (e.g. ENS domains), metaverse land (Somnium Space, Decentraland) & many more.

    with collectibles it is more about a combination of the team, community, smart contract, rarities, aesthetics etc.

    the rights depends on the project. in BAYC's case you actually own the full rights to the image and can use it for your own business or ventures (Arizona Ice Tea just bought one and will be utilising it in some company marketing i assume)
     
    Last edited: Aug 24, 2021
  19. Kingslayer

    Kingslayer Top Contributor VIP

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    So in the case of a major company wanting to use a BAYC ape in an advertising campain (ie turning one of these apes into an animation), who do this company approach using a particular ape? BAYC or the person who's bought the image of it for a huge amount of money?
     
    Last edited: Aug 24, 2021
  20. griff

    griff Account Closed (Requested) VIP

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    the owner of the ape. a good example is Punks Comic (PunksComic.com) who ran a competition for people to submit their apes to feature in their next release - the owners of the apes that are featuring will be getting 100% of the royalties for those comic releases.

    this probably is one of the reasons we are seeing companies acquire their own ape or punk instead of hashing out a deal with the owner as less of a legal headache on their side
     
    Last edited: Aug 24, 2021
  21. karmaco

    karmaco Top Contributor VIP

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    I am going to say what nobody says publicly. This so called art is ugly as hell and if people want want to waste eff you money on it which most of us don’t have that’s their choice.
    Its like a ponzi scheme.
     
    Last edited: Aug 24, 2021
  22. Kingslayer

    Kingslayer Top Contributor VIP

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    So that is my question, when investing in a BAYC ape, you are not only buying an image but any other images (slightly adjusted)/animations that maybe done with this ape in the future? If that's the case, i can understand this investment somewhat more, as you are not only buying an image but the whole rights to the character.

    But then i look at companies like WWE/Marvel getting involved in NFT Art, but when buying this art, that certainly is just 1 image and not the whole character of John Cena/Spiderman (for example), WWE and Marvel still own the rights to these characters.
     
    Last edited: Aug 24, 2021
  23. biggie

    biggie GreenFriendly.com VIP ★★★★★★★★★★

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    Hi

    yeah!

    and meanwhile The Great Apes are going extinct

    imo....
     
  24. NickB

    NickB it's a mystery VIP

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    The thing with Ponzi schemes is if you get in early and get out quick you can make some money......then you can donate some of that profit to an Ape charity to ease your guilt.......
     
  25. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I don't get it honestly. It seems like NFT's are some type of weird flex, like showing you have the money to spend on what amounts to nonsense really.

    We will see if the artificial scarcity holds up when it comes to endless new NFT coming out, or if they are replaced in the coolness factor.

    Brad
     

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