Choosing the right domain name will contribute to your brand’s prestige & equity!
Having 150 million domain names available, choosing a high-value domain name is nerve-wracking. Choosing the right one will contribute to your brand’s prestige and equity, and also stand out within this universe of millions of domains. Single-word domain names represent exclusiveness and leadership, and the shorter they are, the better. Listen to the full episode for more tips on how to choose the right domain for your brand.
- Read the Transcript
Million Dollar Domains – EP15
All right. Welcome everybody to million dollar domains. I’m going to let the audience fill up a little bit before we get started, I’ll be back in about two minutes.[00:01:00] [00:02:00]
all right. Thanks for coming in from million dollar domains, I’m going to invite a few more [00:03:00] people and we’ll get started here and a couple of.[00:04:00]
All right. Welcome to million dollar domains. Uh, this is the part of the show in domain club where I try to talk about higher value domain names. And I think that. You know, it’s amazing. The same thing that functionally can do the job, a domain name, any domain name [00:05:00] is connected online to the internet, to every device, uh, that, uh, that is using the domain name system.
And like anything, if there’s 150 million internet addresses that have been given out and people are at least paying $8 a year for that. Um, you have to think that for the best of those one and a half, uh, or the 150 million names, uh, that there’d be a premium price. Now, a lot of people think, well, one domain is the same as another.
And I think functionally that’s true. But when it comes from the power, the prestige, the brand equity, what it says about you as a company, um, when you’re trying to differentiate yourself online, when you’re trying to make a first impression on a [00:06:00] customer or a vendor or a partner, when you say your internet address, when you say your online address, when you say your email.
You’ve got a chance to start contributing to the value of your brand and the value of your relationship with somebody based upon the domain name you use. So for instance, from million dollar domains, I bought million dollar domains.com. And by doing that, I. Can have the same name for the show million dollar domains as my online address million dollar domains.com.
Now there’s no doubt that instead of paying, you know, a couple thousand dollars for that name, I could have bought a million dollar domains, one.com. I could have bought a million dollar domains, my million dollar domains.com and still a chain achieved the same purpose. So when you think about. Single words where you could be the one and only owner of [00:07:00] shares.com or poker.com or voice.com or seniors.com, which I sold for $1.7 million.
The the, the, the value comes in the exclusive disc, where if I had a company called seniors.com, I used to tell people that if I did a survey at the time of the top five websites for seniors, and I did a random poll, I think I probably could have rang. As in the top five sites for all seniors, even though I had never put any content on the website, such would be the expectation that seniors.com would be a company in this space.
It would be a leader in the space. So I think when it comes to million dollar domain names, it’s a different subset than just functionally getting a domain. And, you know, there’s a lot of argument over, you know, what makes a domain, a million-dollar domain name. And I think right now in the [00:08:00] marketplace, uh, the million dollar domain name space from say half million to say 20 million is mostly one word English, language.com.
And. They can be singular or plural. Sometimes the singular gets the most premium because it can be a verb. It can be a, it could be an action, um, inspired adjective, but sometimes you can have, uh, nouns have just, just, you know, the same value. For instance, shares.com would be great for an east side about money or stock or securitization.
Whereas shared.com would be more of the act of sharing maybe, uh, or, or talking about something, but you could make, share.com be the fact that somebody would own one share of something. So the singular probably right now in the marketplace, seems to carry more value than the plural. The other place that we’ve seen names approach a million [00:09:00] dollars in value.
And the number one thing that I think contributes with domains value is shortness. And in the area of sharpness, one of the areas that. The highly liquid and domain names are names that are three letters or four letters or two letters. Now there’s a big difference between two, three and four letters to let her names can go from say 400,000 all the way up to maybe 5 million or 10 million.
Um, we’ve seen very few, one letter domain sales in.com. Um, I can, is trying to be able to auction them off. Um, there are some one letter.org sales out there that have been popular and you can buy one letter and the new TLDs, but I think, um, domain investing, which is, uh, uh, A blog that Elliott, uh, writes they highlighted a three-letter dot com sale.
We don’t know the price this week, but it was w B d.com [00:10:00] and Warner brothers merged with, with discovery communications, uh, to create a huge media company. It looks like they bought the domain name, WB d.com. And you say, well, did they pay a million dollars for that? Maybe they didn’t. The wholesale value of that name is probably.
Um, you know, 20 to $60,000 and it looks like they acquired it from another company and other corporation. And so. I think it’s an example of the fact that that even though domain names have a wholesale value, they can trade that if you were the owner of WB d.com and someone called you up wanted to buy it, you would probably quote them 150,000 or 300,000, or you may think, Hey, you know, I only have to sell it to one person.
I’m going to quote 600,000 or a million. And that’s the thing about domain names is if somebody really wants. And you ask a million and they pay it. You don’t have to [00:11:00] wonder whether it’s really worth the million. Someone just actually paid that for a domain name. And, and I think that that gives you what we call a comp or a comparative sales.
So we have comps this year alone in 2022, you know, we may have, you know, 10 to 20 publicly reported sales above a million dollars. And it’s probably the highest number that we’ve ever had. Um, in terms of million dollar sales. So it’s not only, uh, one of the places where you can make the biggest difference for your company.
Um, is buying a million dollar domain name. There really, isn’t an organized market for you to go and shop for a million dollar domain. So that’s one of the things we look to do with million dollar domains is centered the discussion about million dollar domains first here on clubhouse, and then on our podcast, and then work to create a marketplace where people can talk about [00:12:00] buying and selling million dollar domain names before they’re actually going to buy and sell a million dollar domain name.
And what I mean by that. As most of the time, the information that people get about. High value. Domain names comes from the broker, selling the name and they may not trust it. They may feel like they have to, to, you know, confirm that information. Or they think that the person may not be giving them fair information because that’s the person who wants to sell them a name.
And I think what we’ve tried to do on million dollar domains, if you listened to our past podcast and everything is. Let people talk about why you’d buy a million dollar domain names, why your company would pay one to 20 million for a domain name before you’re asked to make a decision because for your ultimate domain name, if you’re a company or a startup and you know, your, your company or startup is the name of a color or an animal or a, uh, a single [00:13:00] word, and you want to get the.com.
It only exists once. You know, if you want to be black.com or raven.com or suitcase.com or, or a barbecue.com. If someone else gets barbecue.com, you can go buy it from them anymore. They’ve got it. They’re going to brand it. They’re going to use it. So a lot of times, When you’re presented with the name for sale, there might be other people interested in it.
You have to make a quick decision and you don’t have time to do the homework of why should we pay a million dollars? And it doesn’t make any difference of two weeks after you’re presented with an opportunity to buy a million dollar domain name that then everyone in the company says, you know what? We really should go ahead and buy that name.
And the problem is someone else bought it a week ago. And now when it’s taken away from you. Everyone it reaffirms the fact that yes, it was rare. Yes, it was scarce. And we really did want that domain name. [00:14:00] Um, and so that’s what we try to do on million dollar domains is start the discussion now. Uh, frame what you might be willing to pay for your ultimate name, um, and, and think about it.
And then we can sometimes help you acquire it. And if you’re a seller and you say, I want to get the most amount of money for my name, one way to do it is just to kind of stand firm, wait for people to contact you. And when they contact you tell them you want 2 million. And the only people that will come back are the people that want to pay at least $2 million.
And if they say, well, if you, we, you know, where you take a million, will you take a hundred thousand? When you take a hundred dollars, you know, you just don’t respond. But what we’ve tried to do for sellers on million dollar domain names is we try to talk about. Creating, um, some more discussion about the word that you’re selling.
What does the word mean? What does it conjure up? How can it more effectively help [00:15:00] a brand? And if a brand is doing five or 10 or 20 or 200 million of sales, can you show that having the single one word.com could make a 1% difference in the valuation of it? Can it make a 10% difference in the effectiveness of the advertising for a company?
Can it make a difference in that it can allow a company to enter into new markets or disrupt an existing market where no amount of money could potentially by getting into a tightly controlled. Market with existing players say, how are we going to break into this market? Well, Google wants to tell you that if you spend five to 20 million on marketing with them, that you can break into the market and then you have to keep advertising over and over and over again.
So sometimes the reason domain names, single word.com, domain names sell for [00:16:00] millions of dollars is that they can help you do something that money alone can’t do. You know, I’m looking at some of the domain names that are for sale in the marketplace right now. And I’m firstname.lastname@example.org is for sale for $750,000 right now.
And you think about break. And the one thing that one word domain names have that contributes to their value is that. And I think other domain investors, most notably brightened Pollock has popularized this term and is an open vessel. It can be used for a number of things. So someone says, well, I saw break.com was for sale for 750,000.
Now it’s only worth a hundred, but as much as it’s just a five letter name, if you own that name, I think you want to go through the process of. What does that represent? What does break.com represent? [00:17:00] And the more you look at it and the more you study it, you realize it could be a travel website. Someone wants to take a break.
And so you say, well, there’s a lot of travel websites out there, but, but what you get when you have a one-word domain name and I’m just going to use break.com. And I literally just picked this from a list of names that are for sale for between 500,000 and a million right now is. You get to capture with that one word, everything that’s entailed.
When people think about taking a break, taking a break from life, taking a break from stress, taking a break from the daily routine. And now all of a sudden you’re starting to conjure up something in each person. Where they want to take a break or you could use there for someone who says, give me a break.
You know, I want a break in life. You can use it for someone who says kind of break into your routine. You know, I need to stop and do something different. Um, [00:18:00] And I think when you start thinking about what is the value of people taking a break and you apply that to a half million or a million or 10 or 20 million people, and you save it page, I could do that with any name.
I could buy, take a break.com or my break, but the idea that you have the one simple word in.com. One it’s a source of publicity. If you enter the travel business with break.com, I think it says we’re here to stay. We’ve paid a lot of money for this domain name we expect to be in the business. If you advertise and you tell somebody, yeah, our company’s called break.
Go to break. You’re less likely to have somebody say, what was that word again? What was that address again, then if you were my break or break 360 or a break dot, uh, expert or break dot web three domain. Or, or something like that, your break.com. Um, and you can talk about your [00:19:00] company as break. That’s the word?
You know, if you take a vacation with break, this is going to happen. This is going to happen. This is going to happen. And then when you talk about your address, of course, it’s break.com cause you have the best name and the best domain extension because you’re serious. And I think that. All this sounds like it’s, it’s unquantifiable as to the value, but when I do staging and help people sell million dollar domain names, you have to develop a relationship with the buyer to be able to walk them through the fact that when you own a domain name, you own it forever.
Um, owning a domain name is really. The annual right to keep renewing that domain name and using it. And if you think about the fact that you’re going to be getting customers from that domain name, you’re going to be getting business for that domain name for at least say 10 years, then you take a million dollar price tag and you divide it by [00:20:00] 10.
So now you’re talking about something that you hope to give you a hundred thousand dollars. A year, a benefit. And if you break that down to months, that’s about $8,000 a month. So think about if you’re a travel web. You want to break into the crowded market for travel websites and you do it with break.com for each 10,000 or 50,000 or a hundred thousand of marketing that you spend each month.
I think that that marketing is going to be 10% more efficient in terms of, of people say that you have to spend, you have to contact your customers. 10 times before they’ll buy something and they’ll remember your brand name. Well, what if, because you have a simple one word that people are really attracted to because they want to take a break.
They need a break, um, that all of a sudden, you only have to contact them eight times. So think about your metrics on the cost of acquisition for a company. If you’re going to get the same bang [00:21:00] for your buck in terms of connecting with customers. Only having to mention it eight times instead of 10 that’s 20% better.
So if you’re spending a hundred thousand a month on advertising and having the, your company called break.com versus any other, you know, name that you’re going to use say would make your advertising 20% better. That’s 20,000 a month, a benefit that’s 240,000 a year of benefit. And over two years, that’s 2.5.
And then if you say that when you go into enter into partner relationships, you’ve got a 10% chance of doing better joint ventures with the name. And each of those joint ventures could be worth 10 to a hundred million dollars over the course of your company, or if you’re raising money and you’re valuing your company at $40 million.
And by having a one-word dot com, you could increase your valuation. Um, You know, by a [00:22:00] million dollars or by 2 million or by 5 million, then you get to this simple equation. And the simple equation that you need to look at when you’re buying million dollar domain names, is, is the value that you’re going to receive from the domain name after you purchase it worth more than the value of the money that you’re using to.
And I think, especially in today’s inflationary environment, you could picture that, that the money that you have in your bank account right now for your company is going to be worth 7% less every year, potentially because of inflation. But if you put that money to work in an asset and it used to mean that you’d buy gold or real estate or something else, but think about it.
What is the value of an asset?
Like the domain name, that if it contributes to your profits and your earnings and your sales, and we have [00:23:00] inflation in the future, your sales are going to be more each year, just because of inflation because of your price increase. And so if it, if it gives you a a hundred thousand dollar benefit this year, The next year, your prices are going to go up 7%.
It’s going to give you $107,000 benefit. And then the next year, $114,000 of benefit if you’re raising your prices to match inflation. So think about it. When you’re buying a million dollar domain name you’re, you’re buying something. Who’s benefits are going to increase every year in exchange for the cash that you have now, which is going to decrease in value.
So it’s kind of a big picture of you, but as opposed to hard assets, which used to be the backbone of many companies, your real estate, your land, your equipment, um, uh, even trying to put a value on. Customer list or your brand. I think now if you think about where you’re going to invest by digital assets, that can do the same thing that can, their [00:24:00] value increases with the cost of living over time.
Um, and I think that’s the equation that you want to think about when you buy a domain name. So we’ve had a couple, a domain name, a million dollar domain sales, uh, happened recently. Let me say here. Um, I talked about, we don’t know if the WB DC. Uh, was a million dollars or not, but, uh, we have modular.com, uh, modular.
Uh, it was tweeted out last week. They have been sold by reflex publishing and they’re an owner of some incredible one word domain names. It’s now pointing to modular dot. And so, uh, Jamie Zack, I think he reported this, he called it an upgrade. So right now, one of the things that we’re seeing more than anything in the million dollar space is yes, there are startup companies that sometime will take part of their capital to buy a million dollar domain name.
[00:25:00] But what we’re seeing more and more is companies that started. With the two word, domain name. So let’s, let’s use this company modular, or maybe they used a different extension. Like this company used modular dot. And that hinted to everybody that they were in the artificial intelligence space, it was kind of a bootstrap or a gorilla or a Bohemian, or kind of a cool thing to do.
And I think that matches the philosophy of your company when you’re a. You know, you’re scraping to get by. You’re using your wit your ingenuity, your creativity, but what we’re seeing more and more is when those companies go back for a series B round or when those companies really look to a Savage, their brand in the marketplace, they’ll move from having an additional word before or after the word modular in this case, or in this case, they had.
Excuse me, modular.ai. And now they’ll move to modular.com. And what’s [00:26:00] interesting about this is it seems like the one. You know, people talk about, well, what do you think about a domain name, uh, where modular.ai and you could even have people in that company really defending, oh, the.ai was great. It’s just like the.com and the people who are selling these alternate extensions will always say, oh, it’s just as good.
And I think what they’re really saying. It just is, is just as good for the price. You know what I mean? If you could get a dot I AI domain, I think there are about $125 a year. Think you have to pay for two years. And even if you had to pay a premium price of say 7,000 for this one, that’s pretty good because if modular.com cost a million dollars, then you know, paying 7,000 and having almost the credibility from having that short one word, domain name.
Um, but then I think. Excuse me. I think no one, except the [00:27:00] company itself has experienced what it’s like to maybe have people type in the wrong address and emails, um, to have people say now what’s that website again? It’s kind of like you get this little reminder where, you know, people say the name of your company, people say your email address and you know, you’re trying to negotiate a big deal, a million dollar deal.
And right at the beginning of the. Is that the calmer or no, it’s not. And it’s kind of like this little irritating thing that you have to go with. We’re like, no, we’re the.ai. And it’s just as good. It’s almost like when you start a zoom meeting and you’re on mute and you start delivering a great pitch about your company and no one hears it.
And all of a sudden, everybody in. Conference says you’re on mute. You’re on new you’re on mute. I think you can almost have that happen when you’re in a second place, TLD to.com and [00:28:00] you can easily work around it, just like you can easily turn your, your mute button off. And, and everything’s great, but I feel like it’s the owners themselves that seem to be upgrading to something like modular.com.
So. So they know that they’re losing traffic and, and Rick Schwartz has been big on this, that you lose traffic if you don’t have the.com. But I think people are confused as to where you lose the traffic. If you’re a modular.ai and you tell someone that the name of your company is modular.ai, a couple of things happen.
One is. If you’re doing a voice to text or something like that, that system, or that search engine may not know the d.ai as a TV, they may think you’re just meant to say D O t.ai so that the dot becomes part of your brand. Um, if you’re not using a.com and then that’s okay. Sometimes, you know, you could be.co and.tv [00:29:00] and.ai.
And I do a lot with.la and I think it matches it. You know what I mean? But I think where you lose the traffic is people would type in modular in this case.ai.com. They’re just so used to putting dot com on the end. So I don’t think you’ll lose the traffic. If you have a one word name and another extension to modular.com, I think that they would lose the traffic to someone saying modular.ai and then just be so used to typing in doctor.
Now there’s no doubt that all their promoters of the other TLDs will tell you it’s just the same and no one does this and the new generation, and you’re an O G person. And Bitcoin was just like this, but I really do think it’s kind of ingrained for a lot of people to like calm at the end. So it seems like more and more companies right now.
When the valuations of names are still right around a million dollars for single words, that could mean 500,000. That could mean 5 million. [00:30:00] The reason is, is we haven’t yet. Um, It’s almost like to use an NFT term million dollar domains haven’t yet minted out, meaning there’s still a, not a lot of names owned by third-party holders.
Be they companies or investors. Um, who’ve had them for sale for 10 or 15 years. They want a big price. Um, And at some point in time, you’re going to have all the million dollar domain names owned by companies where they’re not available at any price, but we don’t have that situation. Now I’m doing a project to determine just how many million dollar domain names are owned right now.
And they’re operated by companies who probably wouldn’t sell them for a million dollars. So if you happen to start a company, You know, bolt.com and you started at 20 years ago and you’re a hardware store in, uh, in Nashville, Tennessee. [00:31:00] Then you may love the branding, your bolt.com, but at some point in time, some company’s going to say, wow, I really liked that name to be a social media network or a electric vehicle company or something like that and pay you three or $5 million for it.
So if you think. All the million dollar domain names haven’t been bought by an end-user yet, but at some point in time, and Andrew Roser is really good about talking this. He talks about names being off the market forever. So say there’s 20,000 million dollar domains out there. And then this year 160 of them when.
You say, well, gee page, if that’s the case, if there’s 20,000 great million dollar domain names and say 40% of them are already owned by million dollar companies, you know, that’s 8,000, so there’s 12,000 hours. There’s only reported sales of 120, you know, it’s going to take forever for that $4 million domain names to an essence mint out or, or, [00:32:00] or be in a position where people have to pay five and 10 and 20 million to get them.
But I think if you add in off-market transactions and if you add in the fact that the rate of increase. Of the sales of million dollar domain names is increasing. So not just million dollar domain name transactions are increasing, but I believe the rate at which they’re increasing is growing. So I think you can make a case that if a hundred names, a quarter are being sold now that that could be 110 next quarter, 130, the next quarter.
You say, well, there could be a recession. Well, that’s fine. But a lot of these companies already have the money in the bank. A lot of these companies might use a recession to try to buy the name off a weak holder. So as we talk about the million-dollar domain market this year, it’ll be interesting to see.
If, if there is a recession and we have some moderation of [00:33:00] global demand moderation of speculative demand that may actually work to the benefit of companies looking to buy their dream or their ultimate domain name, because the seller may not be thinking with, with stars in their eyes, it could be five, it could be 10, it could be.
You may get more realistic sellers. We may actually have more volume in a down economy than in an up economy. So those are the types of things we’re going to track on million dollar domain. So I wanted to kind of put that out there in the podcast today. If you’re listening to this offline, um, we’re doing this show live in front of a studio audience, so to speak on clubhouse.
As part of domain club, a domain club and startup club are owned by the same company. Startup club is the largest club on clubhouse, and it was started by people in domain business, and they really wanted to start domain clubs to have a place for people to talk about domain names. [00:34:00] And my name is page how I host the show million dollar domains, and I wanted to have a place where we talked about high value domain names, not the average name that you can buy and maybe.
You know, you’re a domain name investor, and you’re flipping or you’re selling, but a place to really talk about these high value domain names. We’ve had some wonderful guests on this year and we hope to have more. So I want to thank everybody for listening today. I always give time at the end to see if there’s any questions.
If you’ve got a million dollar domain names that you’re, you’re trying to get a valuation on. Um, if you’ve got a name that you’re representing or. Go ahead and raise your hand. If you’re a company looking to buy a domain name and you even have a basic question, like, you know, how do you even transact changing the ownership of a million dollar domain name?
Um, I want to be able to provide, um, some feedback. You have a lot of other people probably have the same question. And so what I found is [00:35:00] over time, um, a lot of people. We’d like to have the answer to the question and we hope this will be a pretty safe environment for you to ask it in. So in the limited time we have left, we’ll probably finish up in about five or 10 minutes, but hi, Sherry, how are you?
Welcome to million dollar domains. Hi Paige. Thank you so much for having this room and for all that you do. Well, you’re welcome. It’s been fun to meet new people and we’ve been doing it for about a year now. I think we come up on our year anniversary around the end of April. And, um, did you have a question about a domain or what’s going on with million dollar domains?
Um, I have a perspective and that’s, and it involves the metaverse of course, you know, that’s, uh, Part of my, uh, my, uh, portfolio is the meta domains I got in early. So I have the cream of the crop [00:36:00] and the amount of money that is being poured in by fortune 500 companies in the metaverse space and the software, you know, all the technology that.
AR, which is, um, augmented reality, the virtual reality, the extended reality mixed reality AI. The amount of money that they’re pouring into, this is just unbelievably nuts and how they’re tying into the 5g network for speed, so that, um, you know, signals aren’t buffered. So I’m looking at it from that perspective and knowing that, um, we were discussing with somebody who works for Google just last week and they’re put, it looks like.
Putting a lot into it as well. So I guess we’re expect to see something in, uh, from them within the year. So I’m looking at it from that perspective. So [00:37:00] the domains that I have that I think at some point, if I hold on to them, um, you know, whatever the time period is, and I don’t think it’s, as you know, I don’t think it’s even five years, um, Probably more like two possibly.
And that’s just a guess. I have Metta, I have one word Meadows or, um, for the most part. And so I have metal hollywood.com Mehta, Beverly hills.com Mehta silicone valley.com amongst my portfolio. And do I think that there can be a million dollars? I think they can be two or. Or more because if you, if they understood the metaverse and say teaming up with IMAX and Dolby, Atmos, I mean the, in looking at the Travis Scott concert that was done on the matter of.
Back in April, 2020, they can make that money [00:38:00] back. Once the software is developed, they can make that money back in one day. Sales of tickets. When I calculated with Travis, Scott could have made at $50 a ticket. He could have done it in a day. So yeah, that’s my perspective. Gotcha. So you think, I think for that to happen, we’d have to be in a world.
Say the top 30 or 40 cities with Metta plus the city, we’re all worth a million dollars. And do you think there’s that much? You know, I know you mentioned that there’s a huge amount of capital going into this space, but I wonder sometimes if, even though it could happen, I’m not sure I can wait long enough for it to happen.
It just seems like, um, I, you know, there’s no doubt as the holder of the name, you’re in a great spot. You know what I mean? It doesn’t cost you hardly anything to renew the name and you could make a million dollars, but I just wonder, [00:39:00] especially as we talk more about, you know, million dollar domain names, I feel like most million dollar domain names, at least in terms of their valuation.
Now other people have already decided what’s worth one or two or $3 million. I think any domain name can grow into it in the future. But, um, but I’m not sure they carry that type of valuation now, but you’re going to find out that’s the great thing is someone’s going to say, I want to be met in Hollywood.
They’re going to say, I want to buy the name from you for 20,000. And you’re going to say no, but usually I’m not, I’m going to talk to you. You know what I mean? And so I wish you luck. I do hope that you get one of those sold, uh, you know, for a million dollars. We haven’t seen that happen yet. I know we’ve seen some Metta plus words sell for, I think over a hundred thousand.
Um, but I think maybe that’s the price point for them right now, but Hey. I’m not trying to sell it right now, per se, [00:40:00] but what I’m, what I’m looking at is I understand the business model. And when I, like I mentioned, selling tickets is going to be it’s already huge. Okay. So they can justify the ROI and look.
Looking at the various designs that you can have for that they can make that money back. You know, it’s all about ROI most of the time. Right. But, but say, but say someone could buy Metta Metta, BH instead of Metta Beverly Hills. Right. If they could buy Metta bh.com for 6,000, do you think they’ll spend the million to buy Metta Beverly Hills?
The metal B H look at the marketing side of metal, B eight. What is matter be age? No, I’m not saying I’m not, but I’m just saying, I’m saying that they’re going to look at that as an alternative. They can have it and then they’re going to be somebody else. Who’s dead. I’m not doing metal BH. I [00:41:00] want metal. I want people to brand Beverly Hills is already branded.
Yeah. I don’t want to be H because to me that’s a step down. Beverly Hills is already branded. Everybody knows from babies on up. They know what Beverly Hills is. So that’s what I’m talking about. Yeah. Well, I hope it works out for you. It’s amazing because a digital asset, um, it, it’s not hard to keep it for, you know, a long time waiting for that payday, you know, you don’t have to, uh, I guess the best thing about it, Sherry right now is you don’t have to put gas in it each week, right?
Yeah. And it’s only nine. That was a year, you know, I’ve always said, I’ve always said to people about domain names. You’ll get a lot of blowback in your organization. When you ask somebody inside your company, whether you should spend a million dollars on a domain name, because everybody inside of a company is going to see that million dollar.
In terms of wouldn’t, they love [00:42:00] that money to go to their department, you know? Um, and so you’re going to have competition because a million dollars means the CTO can, uh, you know, can solve a problem that he hasn’t solved himself. Right. But boy, if he had a million dollars, he can solve a problem. The marketing department, once that million dollars, the legal department, you know, would love something to spend that on.
They could bill out, you know, a million dollars worth of fees on. Um, and I think that it’s only the owner of a company that can appreciate, like what you’re sharing. I want to make sure I said that, um, is, is the, the, the contribution it makes to the overall value of the company, of the organization for spending that money allocating the million dollars of resources to something like that, because everyone else is going to say, no, you should spend that in.
And I think that that’s one of the things that makes the domain name, [00:43:00] decision. Um, very much a CEO decision, unless it’s literally, um, you know, a marketing decision just for one campaign, like you say, it could be a metaverse company that was buying. That name are going to spend 10 million a year on advertising.
They say let’s get the best name, but I would say that it’s really a CEO decision because everyone else is going to see that million dollars and what it could go for if it went to their department. So let’s see, we had one other person. I’m not sure they’re raising their hand. Hey Courtney, were you raising your hand there?
Just perpetually a speaker. There he is. What’s going on paint. Is it a time for a quick. It sure is. Awesome. I do have a name for you, um, of the realm. I love all the content, uh, that just spoke one today. Yeah. Uh, Sherry mentioned tickets and I was like, oh, well, I just picked up a name and I’d like to get your feedback on it.
Your honest feedback. You’ve always been very honest, NFT [00:44:00] stubs.com. I think, uh, you know, taking will be big for events, concerts, and individual artists, uh, you know, selling merchandise, uh, So I think, uh, you know, NFC stamps is a pretty good name. When you think about that name as it relates to ticketing.
Yeah. I think that StubHub, you know, certainly brought that synonym for tickets, um, into the world. And, and it was funny because the ticket stub also, the, the thing I like about it is that the stuff. You know, uh, graded tickets. Now there’s a couple of them on rally road where you can buy shares of a ticket, you know, in a Michael Jordan’s first game or something like that, you know, for a million dollars or something like that.
So the idea of a stub is, is beyond just that thing that you kind of throw away or, but now it becomes, wait, that’s the stub that shows I was there, you know, so I think that’s what. [00:45:00] You know, um, right now I don’t think it’s a million dollar name, but I think it’s an extremely attractive name. And in, in a future where that idea of proving that you were there, you know, and memorializing that maybe into an NFT.
You know, it could make a name like that really attractive. And you just have to look out for the substitutes, you know, can you find someone who wants that name so much, that it has to be that name and you’ll never do better on your sale than when the buyer’s already decided that that has to be the name.
You know what I mean? You’ll never be able to convince someone to pay the same price as someone who is already seeing the vision of. NFT stubs. That that’s exactly what I need. And if I don’t have it, I don’t even want to build my company. You know what I mean? And I think this is like what Rick Schwartz talks about when he says, can someone complete their vision or their dream on your name.
Now the problem with being a domain [00:46:00] investor, you know, and I’m sure you paid a little bit for that day, but I don’t think you paid 10,000 for it, but it is. We can’t necessarily force other people to want our name, but boy, when they do, you can extract a high price for it. And I think that, you know, I think that name has a lot of, of credibility.
Um, so I liked it. I’m a fan. Yeah. A hundred percent. I appreciate it, Paige. Thank you so much. Gotcha.
Let’s see. I’m going to talk, uh, we’re finished up today. Next week. I’ll be back to talking about fractionalization. And tokenization, which, um, I think is going to increase the value of some names and it may decrease the value of other domain names. And so that is my little tease for next week’s billion dollar domain show.
But Sherry, thanks for sharing. I wish you tremendous luck in your efforts. I have enjoyed talking with you on this and other shows this week [00:47:00] and, uh, everybody else. Thanks for coming into to million dollar domains and we’ll see you next week. Thank you page. Bye bye. Bye bye.