Live With Page Howe: Present and Future of Crypto Domains
Web3 domains are here and set to change our entire web browsing and internet experience. Investing in web3 domains has many benefits, such as decentralization and complete ownership of domains, better security with the underlying blockchain technology, and the ability to use domains not just for websites but also to send emails, make crypto payments, and more.
For these reasons, many investors are paying more attention to web3 domains as a profitable investment. So, if you’re an individual or even a business wondering if you should purchase a web3 domain, you could probably use expert advice from a professional.
Page Howe, a well-known domain name investor, or ‘domainer,’ who made more than $2 million from selling just two domains over a decade ago, now speaks about his experience with web3 domains. In a live stream session with Freename, Howe shared valuable insights on how investors can make the best decisions when buying web3 domains.
While the entire session is over an hour long, we’ve highlighted some main points and summarized them in this post.
Tips for Investing in Web3 Domains for Individual Investors or Domainers
For investors and domainers, the main goal of purchasing domains is to resell them for profit. And according to Howe, here are some things to keep in mind when investing in web3 domains to flip them for more money.
1. Invest in web3 domains with desirability
Howe says that one of the key factors determining a domain name’s value is its desirability. For example, domains that represent a particular niche or can serve as a brand identity have huge applications and will most likely be desired by one or more businesses. This is important because Howe emphasizes that the value of a domain is the highest price a buyer is willing to pay for it, and that comes down to how badly they desire the domain.
2. Benefit from zero renewal fees
Buying a domain is quick and easy, but selling it for a high price takes time and patience. You might end up waiting for years until you finally find well-paying buyers for your domain. With web2 domains, you’d have to pay renewal fees yearly to keep the domain in your possession.
But web3 domains are purchased for a one-time payment, so you can invest in as many domains as you want without the hassle of yearly renewals. So, even if it takes many years to sell the domain, you don’t have to deal with additional costs.
3. Financial Management is Key
In the live stream, Howe also mentions that financial management is one of the most challenging aspects of investing in domains. He says that one can never know when they might come across high-value domain names for low prices. For example, maybe some other domainer urgently needs quick cash and is willing to sell many of their domains for cheaper rates.
If any situation like that presents itself where you have a valuable domain being sold for a bargain, you must be ready to take it. Which means you must have the money to buy it right away. And that’s why financial management matters. Imagine missing out on an obviously profitable domain because you don’t have immediate cash. It’s crucial always to have extra money on the side to jump into a lucrative offer the moment it shows up.
4. Be Patient when Researching Domain Names
One of the most common complaints from domainers is that ‘all good domains are taken.’ This is where Howe advises investors to be patient. If you’re searching and trying out different names for a few hours and find that everything you’ve wanted is taken, that’s not enough. You have to be patient and walk the extra mile. After all, with web3 domains, you have more options since you can choose the second-level domain and explore different TLDs.
If there’s a specific word or phrase you’re aiming for, put in some extra effort to find synonyms, alternate words, and variations that will still have a similar meaning. Pull out the dictionary or thesaurus if you have to. Howe advises investors not just to pick the best they can find after searching for 2 or 3 hours but to let their best ideas come slowly, even if it takes five or ten days.
The entire live stream with Page Howe includes many more insights and detailed explanations on various aspects of investing in web3 domains and the future of web3 domains. But the key points explained above provide a short and summarized guideline for investors with their eyes on web3 domains. Follow these expert tips from Page Howe while doing your research so that you can find and purchase the best web3 TLDs and domain names on Freename.