information Why Domain Name Investors Are Buying Up NFTs

[Lox]

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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[bmugford]

I have not used OpenSea. What protections are in place to make sure you receive the content you agreed to pay for? I mean we are talking transactions potentially in the millions of dollars.

Brad

 

[RogueWriter]

I know this doesn’t add a whole lot to the thread, but I enjoyed SNL’s foray into defining what an NFT is…..

 

[frostify]

I think NFTs are still a highly volatile investment. Falls under high risk high reward.
If this thing crashes like Beanie Babies in the 90’s then a lot of people are going to lose a lot of money.
For mid risk you could always just buy the underlying crypto like Ethereum and hold onto that.

 

[DomainBarracksRob]

I have not used OpenSea. What protections are in place to make sure you receive the content you agreed to pay for? I mean we are talking transactions potentially in the millions of dollars.

Brad

I Still have to get back to you other post

but quickly, for the most part..it's DYOR and also acknowledge your risks. "Great rewards come at the risk of even greater failure, the bigger the risk the bigger the rewards" yes that can also be applied to lossing too.

NOTE (BY ME): ANYONE TRYING TO UNDERSTAND, CREATE AND OR BUY NFTs, must have a basics understanding of Crypto, How to use a Crypto Wallet, Blockchain and blockchain tech. If someone does not understand the 1st....NFTs will be very difficult to understand and purchase, as you need a CryptoWallet to begin with.


From OpenSea TOS

https://opensea.io/tos
"
12. Assumption of Risk

You accept and acknowledge:

1. The prices of blockchain assets are extremely volatile. Fluctuations in the price of other digital assets could materially and adversely affect the Crypto Assets, which may also be subject to significant price volatility. We cannot guarantee that any purchasers of Crypto Assets will not lose money.
2. You are solely responsible for determining what, if any, taxes apply to your Crypto Assets transactions. Neither OpenSea nor any other OpenSea Party is responsible for determining the taxes that apply to Crypto Assets transactions.
3. Our Service does not store, send, or receive Crypto Assets. This is because Crypto Assets exist only by virtue of the ownership record maintained on its supporting blockchain. Any transfer of Crypto Assets occurs within the supporting blockchain and not on this Service.
4. There are risks associated with using an Internet based currency, including but not limited to, the risk of hardware, software and Internet connections, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to information stored within your wallet. You accept and acknowledge that OpenSea will not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Crypto Assets, however caused.
5. A lack of use or public interest in the creation and development of distributed ecosystems could negatively impact the development of those ecosystems and related applications, and could therefore also negatively impact the potential utility or value of Crypto Assets.
6. The regulatory regime governing blockchain technologies, cryptocurrencies, and tokens is uncertain, and new regulations or policies may materially adversely affect the development of the Auction and/or Service and the utility of Crypto Assets.
7. The Service will rely on third-party platforms such as MetaMask to perform the transactions for the Auction of Crypto Assets. If we are unable to maintain a good relationship with such platform providers; if the terms and conditions or pricing of such platform providers change; if we violate or cannot comply with the terms and conditions of such platforms; or if any of such platforms loses market share or falls out of favor or is unavailable for a prolonged period of time, access to and use of the Service will suffer.
8. There are risks associated with purchasing user generated content, including but not limited to, the risk of purchasing counterfeit assets, mislabeled assets, assets that are vulnerable to metadata decay, assets on smart contracts with bugs, and assets that may become untransferable. OpenSea reserves the right to hide collections, contracts, and assets affected by any of these issues or by other issues. Assets you purchase may become inaccessible on OpenSea. Under no circumstances shall the inability to view your assets on OpenSea serve as grounds for a claim against OpenSea."

"

End Quote

 

[DomainBarracksRob]

Other uses of NFT I am just not sure how they would work in reality, like fractional ownership of a domain name. I saw Mike Cyger posted a listing for Pyramid (dot) com -

https://opensea.io/assets/0x495f947...87821820981756137048544138956972801549926401/



EDIT: I think I might be confused on this one. I guess Michael Cyger is just outright selling the domain. I would rather use Escrow.com if I was spending $3M+ for a domain.



Brad

Yes you got it right here!

He is selling the domain a .com which OS is know for selling .eth

I think it's brilliant and I was thinking of doing the same for a few of my TOP names in the new tech same as well.

The "Unlockable" content most likely is the "Transfer/Auth Code to the Domain"

If asking $3M, knowing what I now know with Domains, NFTs and CRYPTO
I would go this route...why...

Crypto is 1,000 times faster for one, literally, the second someone agrees on that 1,000BIN ETH he has, the blockchain contract will initiate, and UNLIKE Godaddy, ESCROW you name it....those 1,000ETH or in usd$3M will be in your Wallet in less than usually under 10/5 mins.......

idk where you can sell name for that price and receive your funds in your CONTROL(not GD escrow control not afternic control not dan you name it, YOURS )

The data, and transaction is recorded onto the bock chain, so no need for middleman verification of who own and has paid or did not pay...WALLET A bought and sent to WALLETB and everyone can see this.

I believe you will get more $ in long run, asking for Crypto over cash for you domains.

Simply, as a past Poker player my self...People do not view the chips the same way as they do cash in in hand because they are chips , smaller in number, but more valuable per unit! ( it's why you give the bottle/drink lady a $5/$10/$25 CHIP for cup of soda and ICE lol when you in the zone at the table)...If I was not at the table and was approached for a drink (free mind you), I'm tip $1s 1/2/3 $5 bills cash max)

Much like a crypto token..... If I say send me $15,000 cash to most people it's a lot and sounds like a lot, EVEN if my buyer holds 10 ETH tokens and say $35,000 into there BANK account,: when confronted with the idea :
Look you can have this name now for $15,000 CASH or I will take 3.5ETH ( and they are holding 10+) it's a subconscious action trait that takes place...and it's fast, simple and easy 3.5 send done, got my name and hey look still have my bank in my bank account....

When you want to cash your crypto out, that takes time and work, much like when people say they have been waiting weeks to get paid by escrow lol

(I'll take payment in 5 mins)

I believe I could triple my amount of sales by having a ETH BIN lander, specially on tech related names..100% I've since realized and seen the light on .io



ok

Fractionalized op coming up next ...give me bit need refreshed on that subsection of nfts

 

[DomainBarracksRob]

EDIT: I think I might be confused on this one. I guess Michael Cyger is just outright selling the domain. I would rather use Escrow.com if I was spending $3M+ for a domain.

Still, if you could iron out the details fractional ownership (like shares) on premium domains might interest me.

Brad

https://medium.com/the-zap-project/fractionalized-nfts-d3fa7458ae5

This might give you a better idea then what bit I could lay out, and it's a pretty good article , lays out some explanations

I think as it evolves any flaws within this fractionalized nfts will be patched over time, and I think it will have a great value and use, and be adopted rather quickly.

 

[DomainBarracksRob]

I mean we are talking transactions potentially in the millions of dollars.

Brad

https://opensea.io/assets/0xb47e3cd837ddf8e4c57f05d70ab865de6e193bbb/2338

20 Days ago 1,500 ETH ( 4 years to now)

2.5 eth >2.49ETH>3.5ETH>1,500ETH


this dose not explain you buyer protection question, but Just saying the million dollars in crypto/usd sale are happen.


They are getting larger by the day/week on many projects across the board

Yes look out for thrugpulls too..not ever project is legit, much like not every ALTCOIN is either DYOR everyone

 

[Lox]

Participants in any ecosystems incl. ETH's NFT ecosys create more "value" collectively.
Everything starts with Injecting Fiat $ valuta into ETH (asset etc)
Now, you have a couple of (so called) coins to play around.
Move your ETH asset to the NFTs property (art, whatever) - (*buy property).
Move your NFTs property to ... Subsidy of, Offshore, or any T-heaven.
Hold on until the time come (profit)...
Get rid of the property - Keep the initial ETH and move profit to any T%-heaven or double it.
When "time" and "environment" and or "events" are in favor - you may invoice yourself (Subsidy etc) for services at lower T% rate.

Everything ends with withdrawing ETH asset > Fiat $ valuta.

I'm done with ... speculations.

btw everything is fungible, even your digital stuff, hard drive, a cloud copy or blockchain fragment or particle, quark ... quant etc

Regards

 

[bmugford]

Participants in any ecosystems incl. ETH's NFT ecosys create more "value" collectively.
Everything starts with Injecting Fiat $ valuta into ETH (asset etc)
Now, you have a couple of (so called) coins to play around.
Move your ETH asset to the NFTs property (art, whatever) - (*buy property).
Move your NFTs property to ... Subsidy of, Offshore, or any T-heaven.
Hold on until the time come (profit)...
Get rid of the property - Keep the initial ETH and move profit to any T%-heaven or double it.
When "time" and "environment" and or "events" are in favor - you may invoice yourself (Subsidy etc) for services at lower T% rate.

Everything ends with withdrawing ETH asset > Fiat $ valuta.

I'm done with ... speculations.

btw everything is fungible, even your digital stuff, hard drive, a cloud copy or blockchain fragment or particle, quark ... quant etc

Regards

A lot of this sounds like tax evasion. LOL

In the US when you buy something with cryptocurrency the gains are realized and it becomes a taxable event.

If you bought into ETH at $1,000 each that is your cost basis. If you later sell or use (5) ETH to buy something, those gains are taxable.

If you buy some "art" when ETH is $3,000 at the time you realized gains of 5 x $2,000 or $10,000 total.

You can sit on unrealized gains, but when you sell or use them as a means of payment it becomes realized.

If this was not the case you could keep resetting your cost basis without the IRS ever getting income tax.

Brad

 

[Lox]

A lot of this sounds like tax evasion. LOL

In the US when you buy something with cryptocurrency the gains are realized and it becomes a taxable event.

If you bought into ETH at $1,000 each that is your cost basis. If you later sell or use (5) ETH to buy something, those gains are taxable.

If you buy some "art" when ETH is $3,000 at the time you realized gains of 5 x $2,000 or $10,000 total.

You can sit on unrealized gains, but when you sell or use them as a means of payment it becomes realized.

Any crypto or other means of payment above your $10K cost basis on your art becomes taxable as well.

If this was not the case you could keep resetting your cost basis without the IRS ever getting income tax.

Brad

I was just thinking aloud - some of discoverable trails are single person use and some trails remain closed (family-corp circle).

 

[Lox]

Fake OpenSea support staff are stealing cryptowallets and NFTs
read more

Twitter

Twitter

more you dig ... the result is > remarkably unsecured the platform is.

 

[DomainBarracksRob]

Fake OpenSea support staff are stealing cryptowallets and NFTs
read more

Twitter

Show attachment 198254


Twitter

Show attachment 198255

more you dig ... the result is > remarkably unsecured the platform is.

Well that’s fucked and sucks, you must be cautious as with any email links, even for your domains , etc etc….

The Title is a bit Miss leading, as it makes it sound as if it’s OpenSea themself.


I’ll fix it:

“SCAMMERS, scam OpenSea user and fraudulently take their crypto assets from there wallets.”

Hopefully OpenSea can do something to make right and also tighten security.

but ALways Double check your signature/ address when you you sign off on a transaction.


I mean I feel bad for dude, but need to always use caution.

They title makes it sound like its OS fault

That be like me clicking and falling for one of those bogus emails I get people pretending to be Godaddy and renewing with PayPal ….and going through with it, then blaming Godaddy!

Though not even close tot he amount of $$$$ lost here.

It’s great for awareness, but OS isn’t half as bad as your make it out to be.

Hopefully more details will emerge.

 

[NickB]

Fake OpenSea support staff are stealing cryptowallets and NFTs
read more

Twitter

Show attachment 198254


Twitter

Show attachment 198255

more you dig ... the result is > remarkably unsecured the platform is.

It's the same with Crypto - stolen, hacked etc

Same with scams - fake support, fake refunds etc

Basically anything to do with money there is an angle, person or company out there trying to take it off people

 

[Lox]

I mean I feel bad for dude, but need to always use caution.

They title makes it sound like its OS fault

It is on OS! They MUST inform their users & public about the scam campaign going on and vulnerabilities.
OS doesn't have an expert level Cybersec and Due Diligence team, internal nor external. That's reality...for now.

Regards

 

[DomainBarracksRob]

It is on OS! They MUST inform their users & public about the scam campaign going on and vulnerabilities.
OS doesn't have an expert level Cybersec and Due Diligence team, internal nor external. That's reality...for now.

Regards

So IF I CLAM to be you, and scam one out of there money or domains….IT’s on you ??? Got it


What I got from this is he, spoke with someone in the private message area on Discord that “claimed” to be with support …

That’s like me taking to someone here pretending to be a MOD and not double checking they are verified MOD

yes OS needs to inform users…

NO it’s not on them for what a “individual scammers did” or that the guy didn’t confirm whom he was speaking with!

That’s bs…we all here know to double check your links, emails, names etc etc …..sadly a HUGE part of what happen it seems a USER falling for it!. Just sad fact

 

[Lox]

When you discover more info, you know ... things getting out of control.

opensea report fraud

.... Sholim, had watched NFTs take over the art world, but he had never toyed with them. Horrified, he pulled up the platform OpenSea and found an impostor trying to sell off 122 of his works as NFTs for as much as $50,000 combined.

read more

link

 

[varyemez]

Because they can't sell their domains... But Nfts are big baloon.

 

[bmugford]

It's the same with Crypto - stolen, hacked etc

Same with scams - fake support, fake refunds etc

Basically anything to do with money there is an angle, person or company out there trying to take it off people

One difference with this is that there is largely no recourse for those that have been scammed.
There are no reverses. There is no compensation. Once those assets leave your virtual wallet you are basically just screwed.

The lack of regulation and anonymity is one of the major draws, but it is also a major potential downside when it comes to the average person. I have known people who were shocked when they found out there was no recourse to being scammed.

This is not like using your credit card. This is not like holding stocks in your brokerage account.
This is not like someone with unauthorized access to your bank account.

Many scams have some sort of redress where there is a process for a victim to recover their losses.

Brad

 

[tourismtourism]

NFT-related domain names are also showing a hot trend, which is a good thing

 

[equity78]

Yes you got it right here!

He is selling the domain a .com which OS is know for selling .eth

I think it's brilliant and I was thinking of doing the same for a few of my TOP names in the new tech same as well.

The "Unlockable" content most likely is the "Transfer/Auth Code to the Domain"

If asking $3M, knowing what I now know with Domains, NFTs and CRYPTO
I would go this route...why...

Crypto is 1,000 times faster for one, literally, the second someone agrees on that 1,000BIN ETH he has, the blockchain contract will initiate, and UNLIKE Godaddy, ESCROW you name it....those 1,000ETH or in usd$3M will be in your Wallet in less than usually under 10/5 mins.......

idk where you can sell name for that price and receive your funds in your CONTROL(not GD escrow control not afternic control not dan you name it, YOURS )

The data, and transaction is recorded onto the bock chain, so no need for middleman verification of who own and has paid or did not pay...WALLET A bought and sent to WALLETB and everyone can see this.

I believe you will get more $ in long run, asking for Crypto over cash for you domains.

Simply, as a past Poker player my self...People do not view the chips the same way as they do cash in in hand because they are chips , smaller in number, but more valuable per unit! ( it's why you give the bottle/drink lady a $5/$10/$25 CHIP for cup of soda and ICE lol when you in the zone at the table)...If I was not at the table and was approached for a drink (free mind you), I'm tip $1s 1/2/3 $5 bills cash max)

Much like a crypto token..... If I say send me $15,000 cash to most people it's a lot and sounds like a lot, EVEN if my buyer holds 10 ETH tokens and say $35,000 into there BANK account,: when confronted with the idea :
Look you can have this name now for $15,000 CASH or I will take 3.5ETH ( and they are holding 10+) it's a subconscious action trait that takes place...and it's fast, simple and easy 3.5 send done, got my name and hey look still have my bank in my bank account....

When you want to cash your crypto out, that takes time and work, much like when people say they have been waiting weeks to get paid by escrow lol

(I'll take payment in 5 mins)

I believe I could triple my amount of sales by having a ETH BIN lander, specially on tech related names..100% I've since realized and seen the light on .io



ok

Fractionalized op coming up next ...give me bit need refreshed on that subsection of nfts

There was a good discussion on Twitter where Bill Sweetman from NameNinja said he hoped to see the innovation in domain name sales like NFTs have.

I will say I am interested in all this, and I think for it to go mainstream will be marketplaces like what DraftKings is doing for some. No need for crypto to purchase it.

Brad is right the arrogance of some, (Not here) with all the cheap shots it's really stupid, sometimes it's being said to people that have made a lot more than them. I have a friend who is in finance who wanted to buy a domain name and got some reply back like stick to reg fees you broke bitch. He is worth $10m he just did not know anything about domain names and didn't consult anyone just filled out a form on a landing page. When he told me the domain name, I was like I know that guy and yeah you could buy him a 1000 times over.

I am interested in hearing about the project you are in Rob, and yes I think the play to earn aspect and the gaming is an interesting feature.

 

[equity78]

One difference with this is that there is largely no recourse for those that have been scammed.
There are no reverses. There is no compensation. Once those assets leave your virtual wallet you are basically just screwed.

The lack of regulation and anonymity is one of the major draws, but it is also a major potential downside when it comes to the average person. I have known people who were shocked when they found out there was no recourse to being scammed.

This is not like using your credit card. This is not like holding stocks in your brokerage account.
This is not like someone with unauthorized access to your bank account.

Many scams have some sort of redress where there is a process for a victim to recover their losses.

Brad

Exactly BRAD the attraction is also the vulnerability. Everybody hates banks until credit card used and Bank replaces their money due to unauthorized charge.

Look you want the Wild West you get the Wild West, a lot of bodies in the desert.

 

[Grego85]

https://medium.com/the-ethereum-nam...ntegration-to-ens-now-on-mainnet-9d37270807d3

Full DNS Namespace Integration to ENS Now on Mainnet

I still have a hard time understanding all of the crypto/blockchain stuff. Does this mean we can now sell our regular domains as NFTs?

 

[SuperBrand]

high volatile market indeed

 

[Lox]

The Art can be a blank paper or a little 1 pix etc. (declaration & method)

twitter

 

[bmugford]

twitter

Show attachment 198313

It is stuff like this why it is impossible to take much of this seriously. There is no way to spin that in any way that is not complete nonsense.

Brad