Cloudname Launches Innovative Platform for Domain Tokenization and Trading
Zürich, Switzerland, 17th January, 2022, Chainwire
Cloudname, a pioneer NFT-based domain investing service, has announced the launch of its new innovative platform for the tokenization and trading of domain names to bring improved liquidity to the market and give the crypto world access to an asset class that is ripe for democratization.
Domain name investing is one of the internet’s oldest money-making machines, with web addresses being resold for thousands of dollars. Consulting firm BCG estimated that dot-com (.com) domain names, on average, sell for around $2,000 in the secondary market. That presents investors with attractive upside potential from the typical retail price of $10 to $16. Still, some high-end web addresses have been resold for millions of dollars. Electric carmaker Tesla Inc. famously bought the tesla.com domain name for roughly $11 million.
Despite the high potential returns, domain investing is popular only among a certain group of internet entrepreneurs because of challenges including liquidity, valuation and high price tags for premium domains. Low liquidity is a result of the reality that it takes domain investors months or years to find suitable buyers. Lack of liquidity generally discourages new entrants because many of them cannot afford to have their money locked in assets that cannot be readily converted to cash.
Democratizing Domain Investing With NFT
“Domains are the real estate of the virtual world and their value grows along with the wider digital economy. Current data suggests that the digital economy is growing rapidly, thanks to the acceleration of digitalization in different industries” Cloudname co-founder and CEO Davide Vicini said. “We are now using NFTs to democratize access market so that anyone can invest in both existing and new domain names, including blockchain domains like ENS and Handshake.”
The Cloudname Domain Trading Platform solves the problem of liquidity and high price tags for premium domains by allowing anybody to invest in a fraction, or the entirety, of a domain portfolio, using NFT. The platform also supports the trading of domains in real-time
Price Discovery for Domain Names
There are currently no standardized ways to determine the value of domains in real-time. The Cloudname Domain Trading Platform solves this problem by providing a suite of price discovery tools. The platform integrates with more than 20 third-party APIs to provide access to all the pricing factors of a domain name, including earlier similar transactions, third-party appraisal, social mentioning and semantic analytics & prediction tools
The Cloudname Domain Trading Platform also features revolutionary analytics and prediction tools for spotting trends that could help generate ideas for potentially high-value domains. The platform uses artificial intelligence to analyze data from different social media channels to find market trends before they become a buzz.
Domain Investing Across Multiple Blockchains
Cloudname is coming to the market with the goal of democratizing domain investing for everyone. Therefore, the Cloudname Domain Trading Platform was built to run across multiple blockchain networks including Ethereum, Binance Smart Chain (BSC), Polygon and Solana.
Cloudname is a Web 3.0 marketplace for tokenizing, fractionalizing, investing and trading both traditional and blockchain domain names as NFTs. Cloudname provides simple, yet powerful tools for discovering new domain investment opportunities as well as meaningful data to help domainers make smart decisions.
- Mattia Martone