- Nov 4, 2020
As some of you who are following my posts have probably read umpteen times, I am not a fan of following trends in the domain industry.
VR Domains, Crypto Domains, 420, marijuana etc.
I have often discussed that group categories end up being dominated by a few players. Yes we hear of big sales but we do not hear about the thousands of domains dropped that nobody ever buys.
I always say you can jump on the trend bandwagon but be highly selective in the domains you register and keep them to the highest quality. Try to pick maybe a half dozen to a dozen and then focus on something else.
On Namepros I know members who own thousands of 420 domains and asked for my help and all I could do was shrug. I did not have the heart to tell the member his investment was a loss. Now the real sad part about that was he was not able to meet his financial obligations for renewals and eventually dropped most of them.
Same goes for VR which I warned about very early and I was the target of numerous negative posts telling me I did not know what I was talking about. Now you hardly ever hear of a VR Domain selling anymore. I see them on the drop and can only feel sad for my fellow domainers.
Now I also know a few members that literally have thousands of crypto domains and there are only a few dozen viable targeted end user companies. Given the odds of a viable business actually using the name there are much better ways to diversify your domain portfolio than to own thousands of them. Remember that the sales you see reported are a rarity and not the norm, consider this before registering hundreds in a trending category. If you remove the made up sales the real sales figures would look very different. I have seen numerous reported sales where three months later the whois was still with the owner who reported the sale.
My advice is to forget the trends, participate with high quality and then set your own niche. Use something that is a national symbol where you have years of cross marketing to unlimited businesses. Or use terms that will be relevant in the future which justify owning domains for several years.
My motto today is I have to have at least one sale a year that pays my entire renewal fee or I need to crop my inventory. You cannot stay in business if you have thousands of non paying domains and especially if you are lumped into a single category that will soon be irrelevant.
Pick and chose wisely my friends, there is a wealth of knowledge available on namepros if you learn how to properly use the search function.
That said.... there is no such thing as a stupid question, it is far more stupid to proceed with something where you have not asked the questions of your peers.
I wish all members the best of luck and hope I do not have to converse with too many of you that have hit bottom and cannot pay renewals. Please think ahead, we are all here to help you if you need us.