What is an NFT?
Put simply, an NFT, or Non-Fungible Token, is a unique digital asset. They represent real life objects like art, music, videos and in-game objects. However, they are bought and sold online, and many times purchased using cryptocurrency. Many NFT’s are part of the Ethereum blockchain, an open sourced blockchain. However, a large majority are also created and sold using marketplaces that accept other coins.
- Each non-fungible token has a unique identifier
- Each token has a creator and an owner. It is easy to verify yourself as either the creator or owner.
- NFT’s are not interchangeable with other tokens. Each is completely unique.
- NFT’s are based on Ethereum.
- They can be sold through an NFT market like Ethereum or sold from consumer to consumer.
Examples of NFT’s
Charlie Bit My Finger, Nyan Cat GIF, CryptoKitties and NBA shots are just a few examples of recently sold NFT’s. Although most often associated with digital art, NFT’s can apply to any product online. And they are truly taking the digital world by storm. One NFT, Beeples “Everydays: The First 5000 Days”, sold for a whopping $69 million dollars this year.
NFT's and Domain Names
As the interest in NFT investments rise, there will be more and more websites handling the transaction of NFT’s. Thus causing an increased need for NFT related domain names. Domain company, Donuts, monthly market report of trending keywords reported a huge spike of domains containing NFT’s in March and April in 2021.
Some of these domain names were registered by investors, but some buyers were companies who sell NFT’s. Common keywords for NFT related domain names include NFT, NFT’s, NonfungibleTokens, NonfungibleToken, as well as the hyphenated versions, non-fungibleToken and non-fungibleTokens.
For example, by our estimation it looks like NFT.com, and NFT’s has changed hands. Saw.com would presume that if they did trade, they sold for millions of dollars, if not above 10,000,000 each. In order to break into the NFT space, one does not have to have a domain that has the letters N F and T in it. Amanda Waltz recently co-brokered the sale of Candy.com. Candy is currently being used as a NFT site.
Additionally, a close friend of Saw.com is launching an NFT site on NFT.net. We wish the site good luck and look forward to see it’s success!
The Importance of Domain Names in the NFT Industry
Domain names are the digital real estate upon which we build our businesses. They provide a portal for customers to reach us. Domains have never been more valuable or important as they are in 2021. The rise of the United States E-commerce goes hand in hand with the increased sales of NFT’s. There are 4.27 billion Internet users in the world, and a website provides access to each and every one of them.
This is true for domain names in the NFT industry. With a memorable NFT domain name, this digital real estate will become a destination for both NFT buyers and sellers. Additionally, a domain name shares many characteristics with NFT’s. They are each unique, non-fungible, with proven ownership.
Purchase an NFT Domain Name
As the number of NFT investments rise, it will be crucial to have marketplaces and places of transactions online. Owning an NFT related keyword that is one word and memorable will be the key to success in the new world of digital currency.
Interested in buying a domain name? The domain brokers at Saw.com are happy to work with businesses to assist with online branding and marketing needs. Our domain brokers are also experts in domain acquisition, appraisal, branding, brand protection, portfolio management services and more.
Saw.com is a domain brokerage service that is determined to help you reach your business goals. If you are interested in speaking with an expert from our domain brokerage service, please contact us for a free consultation.