NFT 

How the $15M "NFTS.com" Domain Sale Shows How Far We've Come

Making it the second largest domain sale of all-time and a major step forward in our tech infrastructure.

NFT 

How the $15M "NFTS.com" Domain Sale Shows How Far We've Come

Making it the second largest domain sale of all-time and a major step forward in our tech infrastructure.

Earlier this week, the domain name “NFTs.com” was acquired for $15 million (USD) in what is now considered to be the second largest public domain sale of all-time.

The sale, which occurred on Wednesday, August 3, was administered by Escrow.com – the world’s largest online escrow provider, and brokered by Domainer.com and GoDaddy.

While the buyer remains anonymous, Domainer says that they have “associations with other Web3 projects, including DigitalArtists.com,” which was acquired for $300,000 (USD) last year and offers curated Web3 services to artists.

There are no currently publicized plans for how NFTs.com might be used, according to the press release.

“The recent acquisition of NFTS.com is one of the largest web3-related transactions we’ve seen on the platform,” shared Jackson Elsegood, General Manager at Escrow.com.

A Record-Breaking Sale

The sale of NFTs.com now leads the ranks for highest publicly reported domain sales to date, after the $30 million (USD) purchase of Voice.com in 2019. It was then purchased and acquired by blockchain software company Block.one, linking both phenomena in the past decade to blockchain technology and Web3.

Until Wednesday’s announcement, the NFTs.com domain remained privately held with no formal utilization since as early as March 2021.

Matt Holden, lead broker of the deal referred to the NFTs.com domain as “one of, if not the best, possible .com’s in the entire Web3 space.”

The NFT Evolution

Recent data has shown that most people living in the United States have no familiarity with NFTs, according to a Finder study.

Despite the study’s analysis, NFTs have certainly played a significant role in large industrial developments and improved the way consumers and businesses interact with digital assets – a change that hasn’t been acknowledged since 2014.

A Technavio report believes that the global NFT market size is expected to grow by $147 billion (USD) from 2021 to 2026, at a CAGR of 35.27%.

With Wednesday’s announced sale of NFTs.com, Web3-related domain sales are surely going to rise, with the possibility of some even being issued through NFTs in the near future.

In other Web3 news, Meta takes Instagram NFT integrations global.

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