August 3rd 2016
Today I started a new business venture and will be a millionaire by the end of next week. Probably.
My business venture, is more of an investment. Whilst prepping for a blog post that I’m writing for work I came across a website. My blog post is going to be about a load of cool and quirky TLDs that are available now. A TLD (top level domains) is the string of characters after the final dot in a web address. The .com, the .co.uk, or more recently ones like .xyz, .wine, .pub, .beer, and other non-alcohol related domain extensions.
So whilst I was researching for this blog post I found a site that talked about how people buy and sell domains as a separate income. I knew that this was a thing, but this website went really in depth into it. People posted examples of their ‘flips’, wherein they’ve bought a domain name from a company (such as the one for whom I work), and they’ve sold it on for a higher price. They buy domains using a bit of foresight and social prediction. They guess as to what they think people will want, for example one guy bought “www.like.bike” for twenty bucks and sold it for two grand. Another guy bought “CHDR.com” real cheap and sold it for two and a half grand. Some people go for rhymes, some people go for initialisms, some people go for words that just make sense, eg “trustbuilder.com” was sold for $6000. Some people piggy back on a latest trend. “PokemonGo.net” apparently went for $20,000 and it would’ve cost $20 tops. (For the record, these numbers are all in dollars because the provider of the TLDs works in dollars and I can’t be fucked to translate them into real money)
So, I thought I’d get in on this action. The website I was viewing also provided a resource to check what domains have recently become available, and you can filter them based on various criteria. I went for the initialism/acronym strategy. Short domains are cooler, and thus more desirable. I scrolled through this website looking for short domains, and I found one that wasn’t a word, but it was four characters and pronounceable – which is apparently a big deal. That domain was only made available today because it had expired – it’s previous owner hadn’t renewed it.
So I bought that, and two others of the same rootname but with different TLDs. I got %%%%.org, %%%%.info and %%%%.co for like $10.
The next step is either to put them up for auction, or to contact people who you think might want the domain. A quick way to do this is to just find a possibility as to what your acronym/initialism could stand for. In my previous example, the guy who bought “CHDR.com” sold it to a company who has a product called “CHDR”, which is like a programming language or something, but they previously only had the domain “iwantchdr.com”
So if I send an email around to all of the possible %%%%’s saying “I have this domain name, do you want it for, say $5000” then I’m sorted.
Until tomorrow, simple as that.