Internet Domain Investing at NAMESCON in Las Vegas | Episode 21

For today’s episode of the Future.Bible Podcast, Kenny Jahng and Dj Chuang will share the NamesCon wrap up.

Listen as Kenny and Dj shares some points from their NamesCon trip and some of the highlights of the conference.

Did you know you can catch-up on past episodes of the the Future.Bible Podcast, on Apple Podcasts, Spotify, Google Play, Stitcher Radio, TuneIn and wherever else you go to download great podcast content.

INTERVIEW TRANSCRIPT

Kenny Jahng: Hey friends, it is time for another episode of Future.Bible. Thank you so much for joining us this week and every week that you are here with us. I’m joined by my co host, Dj Chuang, the only one from the West Coast. Welcome, Dj. How are you doing today?

Dj Chuang: Stopped at raining here and I think the vortex is no longer hovering around the United States. So we are doing well.

Kenny Jahng: It certainly has been a whether conundrum. It’s been almost as we say here in Jersey, a little bit too hot the last couple of days, but I think we’re going to be punished for that. So the weather went all the way up to like 61, 62 degrees after it was, you know, freezing cold, like negative two negative three windshield last week and then we’re going back down to 40. So I don’t know what’s going on, but whether this is. I will tell you one thing, we had great weather when you and I were together in Las Vegas last week. How about that? That was a great trip.

Dj Chuang: That was a wonderful trip. We had a great time connecting with each other and many others in the so called domain name industry. I did not know there was an industry, but apparently there’s an industry and they have an annual conference called NamesCon and They actually have this conference in several locations around the world. So it is a global phenomena.

Kenny Jahng: Yes, it was my second year to this conference. It was actually very interesting that the tone or tenor of the conversations in the speakers tend to be a little bit different this year than last year. I think last year there was this, I guess this reference to the previous years where it was a feeling of a gold rush for the industry as the new GTLD is the top level domain names that were unleashed as we know and we’ve talked about on the show that there are tons of new internet domain extensions available like .shoes, .football. All these different new fangled website URLs. And we were representing the .Bible team from American Bible Society. And so it felt like that gold rush was over. There are some sobriety last year and this year I felt like it was about how do we rebuild and look at the basics of building businesses and internet domaining. I think there’s a whole, we saw some efforts to get rid of the name squatting in terms and changing it into internet domain investing, which actually we met a couple of people who are professionally doing this vocationally, right? This is their full time job managing portfolios of $100 or tens of thousands of domains. What was the most number of domains you’ve heard someone manage?

Dj Chuang: Oh, they actually did a, just a quick straw poll of, hey, how many people have over 100 domains? How many people ever? How many have over 10,000. I think there was a, maybe a handful, a dozen or so that had over 10,000 as a portfolio that they have registered and they’re invested in and trying to do in reach and outreach to sell those domains over the course of 10, 20 years.

Kenny Jahng: Yes. And so, that was, it was interesting. It was interesting to see some of the GTLDs, the generic top level domains. We met the guys that .ICU that have sold hundreds of thousands of website addresses in the last eight months alone. There was a banner there that said .online has sold over 1 million URLs domain names already and there’s .global. There are some other big names at the conference, including the behemoth of it all is Godaddy was the giant that was being represented.

Dj Chuang: Yes. So we both have the domain investors, that top level domains and the registrars which other retail. So it can get kind of confusing because all of these things are interconnected, but they have very distinct roles. And I don’t know if you want to get into defining each of those for new listeners that are new to this industry.

Kenny Jahng: Absolutely. We should do that for some of the people who don’t live in the space on a daily basis.

Dj Chuang: Yes. And I didn’t live in the space five years ago, so it was a learning curve for me too. So, talk about the many investing those are people that registered domain names that look a pretty good. So let’s say, steak.com that some investor has purchased and is waiting for the right buyer that will pay a high dollar amount and right now there’s a parking page, meaning that if you go to steak.com right now has a menu of maybe 10 links to search engine results, but there’s not a real website with content. It’s just one page parked and nothing there. So people like we were just saying, some people have thousands of those, some people have tens of thousands of those and actually steak.com is not working right now, so previously I’ve been there in past months.

Dj Chuang: It a parked page today. It’s not working and they will curate these domains. They will talk to people at an industry conference like this. They will talk to people perhaps for state.com. They will go to a meet convention and talk about that domain name in hopes of finding a buyer that’s willing to pay the price they’re asking for. Usually four or five digits and make a sale. So domain name is worth what a person is willing to pay for it. And here’s the kicker in terms of investing, there are people that will pay high dollar for certain domain names because it matches their brand or matches their category or something special about them. So for example, the one that I recently found out about his tesla.com. You know that fancy car company, Elon Musk started?

Kenny Jahng: Could all Elon Musk car company?

Dj Chuang: Well when he started that company and launched a website for the first cars that off the assembly line, the web address was teslamotors.com And it took over a year of back and forth and negotiation and so on and so on with the investor that had owned tesla.com. And, I think it was a year or so later that Elon Musk was able to purchase tesla.com from the previous owner for 11 million, $11,000,000.

Kenny Jahng: What are you talking, US dollars, Dj?

Dj Chuang: US dollars, Eleven dollars million with an M like Mary. So, in the history of time, there’s been a 20 or 30 domains that have sold for over a million. There’s hundreds and thousands of sold for thousands and one of the speakers talked about generally the so called premium domain names for those that sell or above the standard price is kind of in that 2,500 $3,500 range. Just to give you a sense of, okay, if you have a good domain name and you want to invest in this thing and you know how to find the buyer, then that’s kind of money that’s involved.

Kenny Jahng: It is amazing like real estates, how these properties can come and go. The popularity can come and go. I was just reading some news that you know, Donald Trump domains were popular at the height and 2015, 2016 during the elections, the popularity has fallen a bit. but there are two domains that were registered last year, trump.sucks and donaldtrump.sucks and both were registered anonymously.

Kenny Jahng: But they were registered for $28 a year. And then they were renewed, meaning in the way every domain, registrar, GTLD is different. The way that one is set up is it’s 28 000 the first year, but when it renews, renews at $2399. So if you’re going to hold onto this for more than one year, it’s going to cost you $2,400 for that. And so there are people just sitting on them trying to see if there’s any commercial value of those domains. Really, it’s such an interesting. And that’s what you call the aftermarket domain sales industry, right? There’s a difference between premium domains and aftermarket domains.

Kenny Jahng: So, Godaddy was there and showed a lot of data because Godaddy itself sells domain names for the first time as a registrar to the public. But they themselves have an aftermarket, is that aftermarket marketplace or aftermarket place? Aftermarket marketplace, right? Sedo is the big one but Godaddy’s another big one. And they shared a lot of the data from the industry. You were at that presentation also, I thought it was one of the, definitely one of the highlights of NamesCon. Do you remember any highlights? What’s one of the one or two highlights that you could share with our listeners today from that conference presentation?

Dj Chuang: Well, I’ll share three. So 40% of the attendees were first time newcomers and so there’s still a lot of interest in investing in domain names and this digital real estate is valuable for starting up small businesses and starting up new brands and not all of them are .com because now it’s becoming a world where you just want a domain name that makes sense and it’s memorable. So sometimes the .com is just extra letters that you don’t need. So that’s one, two, the Godaddy presentation. I agree with you. It’s very helpful because they gave us some real data because there’s a lot of stories that kind of swirl around the industry, but it was hard to nail down. But Godaddy was willing to disclose all their information. So when you mentioned the aftermarket Vegas, $700 million live searches every month in that aftermarket search engine. So they are many, many domain names that are already registered, but the owners of those domains are willing to sell at an extra price in this thing called after market.

Dj Chuang: So Godaddy is a very, it’s the largest retailer of domain names in terms of the online store where you can buy and register domain names and they have somewhere around 33% of the entire domain registration business. So they are definitely influential and definitely very valuable data. And then the third one was a presentation by the Radix CEO, R-A-D-I-X and he is a very, very data driven discipline kind of a guy. And so when they launched their top level domains, things like .press and .online, they did this very exhausted dictionary search and they did all kinds of Google volume analysis and bunches of analysis to make sure they had the best chance at developing a sustainable and profitable business model. And I think they have. So it was encouraging of him to share some of the discipline that he puts in, in running a top level domain, which we all are learning from. So those are the three that stood out to me.

Kenny Jahng: For me, one point I think came out and again we were in Vegas, so a lot of people have swagger and you don’t know if that’s swaggers real or not, especially when it’s in Las Vegas, right? So there are people who make these claims that they’re living off of internet domain investors. They’re buying domains up by the dozens every day and they’re selling them and making, you know, it’s like a gold mine, etc. But Godaddy came out with some data that showed the sweet spot if you are a domain investor is to fine domains and then be able to sell them not for millions of dollars, not for tens of thousands of dollars, but I believe it was somewhere around the 2,500 to $3,500 maybe up to a little bit above that. But that was the sweet spot for reselling of domain. So if if you’ve got or portfolio that that probably is a reasonable estimate if it is commercially viable that you might be able to get a couple thousand dollars for it. Right?

Dj Chuang: So that was very helpful data as well.

Kenny Jahng: And you can see how, if that is the case, we met a portfolio manager at one of the breakfast mixers that we were at that manages literally thousands of domain names for a private investor so they’re not even his, someone else has money and uses that money to let him go out and purchase domain names on a daily, weekly, monthly basis and then try to position them and sell them on a daily, monthly, weekly basis. So that overall that he would make a profit, right? A positive ROI on whatever monies that they’re in, domain names. So I thought that was very interesting that they are, that is a reasonable outlet to say, hey, you can make money in this industry. I also saw Godaddy outline a typical playbook for the domain portfolio business. Did you see that, Dj?

Dj Chuang: I saw it, but it didn’t make an impression on me I guess.

Kenny Jahng: There was I think it was part of the presentation and then it was part of the summary writeup that NamesCon put out. And I thought it was interesting that the skinny end of is the, the cliff note version is that your aim is to buy, I think it’s 5 to 15 character domains. So you’d want it to be relatively short, right? You don’t want this crazy long domain that you can’t remember. You want memorability recall. And ideally it’s a one to two word domain, English words. So again, you want to be able to have that recall in the consumer’s mind. And then you buy two to three a day, anywhere between 50 to $150. And so you’re buying about three a day and it’s 365 days a year.

Kenny Jahng: So you’re buying about a thousand domains a year. And they said that if that target sweet spot is 2,500 to $3,500 to flip it and then you get a one percent sale rate that within three years you should be break even or profitable, and then not soon after, very soon after that, you should be able to go full time in that business, which I thought was an interesting place. The fact that, hey, if you can find and would GTLDs I think that is the question with any of the new GTLs that are out there. There are plenty of words that typically would be premium if it was an a .com, org scenario, but may not be. And you can, you don’t need to pay thousands of dollars for it on any of these new GTLDs and yet, so you might get it for $50, $60, $70, and then you can position it to have it sold.

Kenny Jahng: Because this is like the internet gold rush, right? It is first movers advantage in a lot of these GLTDs one word, two word, keyword domains are still available. It’s not like the .com. And so, I thought that was very interesting that that possibility is there. So if you’re one of those people that are constantly checking in and dreaming about future businesses and potentials of websites and you tend to pick up a domain names, I don’t know about you, Dj. How many random funny domain names have you come across over the years that your tempted to buy.

Dj Chuang: I stay away from that kind of business.

Kenny Jahng: It’s slope, slippery slope. I know in one of the Facebook groups that, and we asked that question and some of the guys were paying a couple thousand dollars a year in renewal fees on domain names that they’ve just been accruing.

Kenny Jahng: It’s kinda like, they’re hoarding these domain names and I used to have a bunch of them, you know, wesellhats.com, wesellcaps.com. You know, fingerclickinggood.com was my funniest one that I’m using lately. Those are the types of things that you find novelty, you purchased them thinking that you’ll develop a business or you can sell it or something else, but yet you just keep them paying renewal fees year after year after year. I think there must be a lot of listeners that have a couple of domain names in that category that can empathize with that position. But anyway, my point is that new GTLds are providing a new opportunity for people would that approach or that philosophy in terms of value. My point, this all means the whole punchline, the whole bottom line means people are willing to pay for short domain names, Dj, right? They’re willing to pay for the right words. They’re willing to pay for something that’s easy to remember. Domain names are important and GLTDs are providing new opportunities, infusing that meaning or intense into the actual URL makes sense and that’s what brands should start to be thinking about it. And I think that’s from a .Bible perspective. If you are a Christian faith based ministry, it probably makes sense to think about how else we could use this, right Dj?

Dj Chuang: That’s right. And there’s no stronger word that invokes a emotional reaction like the word Bible, whether you’re Christian or not. And certainly the word bible is used in non Christian context as well as a book of authority. And so Bible can be used for barbecue or golf or knitting or,

Kenny Jahng: crocheting.that bible. I’m waiting for that.

Dj Chuang: Well, you can register that if you would like.

Kenny Jahng: Absolutely. Yes, I think that is the, that’s the question is, there’s so many different ways that GTLDs top level domain names can be used because there’s so many options. And .Bible gives you that option that says, hey, you don’t need to take it just one way. You can actually re-appropriate the use because there are many books when I go to Barnes & Noble or Amazon, there are tons of books, I think over 10,000 books out there published that have the word Bible in it, right? So it is like the coffee kinda sewer Bible type of that type of authority travel.bible, travel Bible books and stuff like that.

Dj Chuang: Oh, I was just talking with a graphic design firm about a month ago. And he was saying that in the process of branding and identity and created, one of the first steps that’s part of their process now is looking for in the available domain name. So it’s become integrated into your branding and startup and naming strategy. And there’s a media company that’s been in the news, you may have heard of them, Buzzfeed and they have a section that’s buzzfeed.news and they actually incorporate that into their logo. So it can be a very strong branding to use a top level domain that has meaning and not just tags along like a .com.

Kenny Jahng: And I actually think from that perspective, being the digital agency space, organizations, companies, individuals are not going to have to resort to making up names as much because we have so many options now for one or two were domains, if you consider these generic top level domains, right? The reason why we have the Yahoos, the Googles of the world is because there was no more real estate available on .com. Right? The words are all taken, two words are all taken. And so you have to start making up names in order to get something that’s short and memorable and so now you can get short and memorable, but with intent and meaning by using all these detail, these, and I think especially this next generation, I think the older generation has these concerns about GTLDs, but the next generation, it’s just, I don’t know, it’s just intuitive.

Kenny Jahng: If there’s a www in front of it, it’s a website address or if it’s, there’s an http in there, it’s a website address, or if you refer to it as a website, it’s a website address. There is no confusion and you’re willing to try. There’s no risk in trying to type something into your, URL bar. So anyway, I think that’s the bottom line is that this is validation. This industry they paid over, how much was the auction was 2.2 million dollars they raised. Right? So that’s one of the flashy parts of the thing. Do you remember some of the URLs that they sold at that auction?

Dj Chuang: I can’t remember this year. I know last year and they sold something like super.bible, super.com, great.com for like six digits. I forget which one. Hello headliners this year. They had several.

Kenny Jahng: They had, I mean they had over $2.2 million in auctions, for my memory. And this is why I think from an outsider’s point of view, this is again, this is just validation that short memorable domain names are important. People willing to pay for there’s a value of it. But you have, you had things such as solarbackpack.com or lasvegas.events or I remember there was or the domain, this is the easy one domainnames.com sold for over $300,000. I remember Jim telling us that domainnames.com. And there was other really funny ones like bathroomsink.com I think was one of the ones that sold in the auction. And then there’s a more common ones like, I think insurance.us was one of them. Or what’s another one that they sold that was, dieticians.com, dietsupplements.com. We know that weight loss and insurance are two of the most lucrative niches in the industry in the online industry. So it’s no surprise the dietitians or dietsupplements.com sold in a auction environments. But the whole point is there is tons of URLs that were sold and uh, over two point $2,000,000 passed hands that evening. And so it means, hey, look, if you are looking for a campaign, a microsite, your organization site, a new initiative, you really should be looking at GTLDs because you can avoid having to pay for the .com at, you know, four figures, five figures, six figures if you can find the right one with intent and meaning using the generic GTLD. So anyway, let’s talk about .Bible just to give people some creative inspiration. What are some of the fun .Bibles that you’ve seen come along so far? One of my favorites is viz.Bible, data visualization of the Bible. What about you? Can you name some better present in your mind where .Bible comes to mind?

Dj Chuang: I like what today.Bible is doing. So if you make that your home page, you get today’s daily reading on your home screen everyday. So I thought that was a very convenient one. And then we have certainly many partners, sites like free.bible is the quickest, easiest way to share the Bible app with others to install and download. We have good partners across different confessions of Christian faith, like catholic.Bible in greekorthodox.bible. And then one of my favorites is insta.bible out of a play off the Instagram phenomena that insta.bible, it has this guy named Kenny. I need to you Kenny Jahng. Yes. In process of creating a parable Bible verse image for 30,000 plus Bible verses every single one on .Bible.

Kenny Jahng: We are in a post textual culture. Visual is the language. And so we’re trying to create a social media bible basically capturing all 31,000 verses of the bible in visual form so that you could share the bible as it was originally intended. We want the bible to be shared. And so this is just one of those things. It’s a passion project. It’s not for profit. Everything is free. If you go to insta.bible, thank you for the plug, Dj. If you go to instead that bible, please tell everybody about it because you can download the images, they’re copyright free and we would love for you to use any of the images were trying to upload dozens and dozens of images every single month. We’re looking for some volunteers to create images and help administrator upload so you can reach out to me if you wanted to. And that’s a side project. That’s definitely a great use of .bible domain I guess. Bible reading plans is another great use of .Bible. Think of a church or a nonprofit organization that is doing a campaign to get your staff or team or community to read the bible together. I think a bible reading campaign website would be perfect. Do you know of any websites out there that are using a .bible for bible reading campaign yet?

Dj Chuang: Well, we don’t have visibility into the entire .bible space, but at the one that we are aware of is h2ochurch.bible, that’s a h2o as in water, the atomic symbols. H as in hydrogen, o as in oxygen. H2ochurch.bible.

Kenny Jahng: 0 is the Zero, right? It’s h20.

Dj Chuang: No. O like oxygen.

Kenny Jahng: Oh, it is?

Dj Chuang: It’s h2o like oxygen, h2ochurch.bible. And they use a new top level domain for their church as well. h2o.church. So they use that to have their entire church read the bible plan from a bible app.

Kenny Jahng: Nice. Yes. H2o, hydrogen to oxygen, h2ochurch.bible. They’re right now. It says, let’s read the bible together in January. There’s a 31 day plan and there’s some related plans for February and April. Pulling all from Youversion, but this is a great way to get your to get your church on the same page. Now that is one of the issues, right? As an internet registry, we don’t have access to all the details of all the great things people are doing after they buy a domain name. And so one of the things that we’re doing is we’re doing a contest, a giveaway, right Dj? Can you tell, I guess, tell everybody about how they might be able to win a prize?

Dj Chuang: Yes, the giveaway, it’s really simple. Go to get.bible/reading and we are collecting, inviting all churches, faith communities, even small groups that are reading the bible together and share that URL with us whether you’re using a .bible domain or not, but however it is that you’re organizing and telling people about your reading plan, share that with us and we’ll do a random drawing in the middle of March. You can see the details again at get.Bible/reading and we will give away a $100 gift certificate and the entire video archive of the faith leads tech conference.

Kenny Jahng: $100 on Amazon. Who can’t use another hundred dollars credit on Amazon and then a free digital pass to unlimited access to the archive for the faithleads.tech conference that happened. I personally have been going through some of the talks because I was in the backstage area. But, you got Justin Trapp and Wade Bearden. You got Chad Barlow, John Dyer, Nick Runyon was there. Dan Hodges, Robert Rouse, Brandon Donaldson was great to meet Brandon in person after going to lifechurch.tv back in the day for my online church service days as a congregation member from Jersey and they were broadcasting live from Life church in Oklahoma. And so Brandon Donaldson is talking about stewarding kingdom technology. I remember that talk very well. Nate Taylor was there. Kelly, Kelly from Lifeway was there. As soon as a whole bunch of talks that are people pay to go to.

Kenny Jahng: But you can get all the videos for free in this giveaway, so it’s get.Bible/reading, right? Just www.get.bible/reading, and you can just fill out your church’s name, your website, and share a little bit of what your church is doing in terms of bible reading and get into the context there. So, we’d love to hear more stories about how you are using GTLDs, how you are using .bible. Dj, why don’t you share with people as we close out this episode, how people could get in touch with you and what’s the best way for them to learn about the .bible domain?

Dj Chuang: Yes, just use the first name, my initials, Dj like disc jockey at get.bible, dj@get.bible and Kenny, we have a get.bible domain email for you as well, kenny@get.bible and get.bible is our website, www.get.bible to see if your domain name is available. Many of them are.

Kenny Jahng: If you want it to get information about our podcast to your transcriptions past episodes because it’s not just us two, we actually have the fortunate opportunity to travel across the interwebs on a journey meeting with other bible technologists and innovators. That’s future.bible www.future.bible. We encourage you to stop by and again, we want interaction. I think both Dj and I are known in the circles that we travel in that we’re authentic in our call to action that says, hey, we love meeting new people and interacting and engaging. That’s not a fake call to action. So reach out to us on social media, on Twitter, on Facebook, on the website or email, and we’d love to hear your stories about what you’re doing in the space about bible engagements and technology and innovation and the interwebs, the interwebs as we call them. So Dj, thanks for checking in today. I think one of the things that we should do that a couple people have asked is they wanted to meet up with us. They want a heads up as to know that we’re coming into town instead of just seeing us on social pop up with a conference selfies. And so I think maybe we should come back for another episode soon just to go through our events schedule for the next couple of months because we’ve got a busy schedule together, don’t we, Dj?

Dj Chuang: Yes. We travel almost once a month to eat together at the same place and host a little gathering, whether it’s breakfast or dinner or late night snacks or something where we can be in the same room and really enjoy some facetime, literally facetime together.

Kenny Jahng: Literal facetime together so that we can meet more organizations and share the resources and the possible opportunities that .bible has available for a bible inspired organizations. We have yet to have a a postman night meet meetup at a waffle house for .Bible and I would love to do that this year and maybe that’s the call to action that will bring people out of the woodwork, but yes, we’re going to a bunch of conferences. maybe we should get back on the horn here and another episode for that. But in the meantime, yes, please reach out to us. Please visit Future.Bible. Leave a comment review on iTunes or Stitcher Radio or wherever you are listening to your podcast and we’ll look forward to another episode here soon on Future.Bible. Have a good day, Dj.

Dj Chuang: You too, Kenny. Bye everybody.

Kenny Jahng: Bye bye.

HIGHLIGHTS:

06:57 Well when he started that company and launched a website for the first cars that off the assembly line, the web address was teslamotors.com And it took over a year of back and forth and negotiation and so on and so on with the investor that had owned tesla.com. And, I think it was a year or so later that Elon Musk was able to purchase tesla.com from the previous owner for 11 million, $11,000,000.

08:58 But they were registered for $28 a year. And then they were renewed, meaning in the way every domain, registrar, GTLD is different. The way that one is set up is it’s 28 000 the first year, but when it renews, renews at $2399. So if you’re going to hold onto this for more than one year, it’s going to cost you $2,400 for that. And so there are people just sitting on them trying to see if there’s any commercial value of those domains. Really, it’s such an interesting. And that’s what you call the aftermarket domain sales industry, right? There’s a difference between premium domains and aftermarket domains.

10:32 So 40% of the attendees were first time newcomers and so there’s still a lot of interest in investing in domain names and this digital real estate is valuable for starting up small businesses and starting up new brands and not all of them are .com because now it’s becoming a world where you just want a domain name that makes sense and it’s memorable. So sometimes the .com is just extra letters that you don’t need. So that’s one, two, the Godaddy presentation. I agree with you. It’s very helpful because they gave us some real data because there’s a lot of stories that kind of swirl around the industry, but it was hard to nail down. But Godaddy was willing to disclose all their information. So when you mentioned the aftermarket they get $700 million live searches every month in that aftermarket search engine. So they are many, many domain names that are already registered, but the owners of those domains are willing to sell at an extra price in this thing called after market.

11:46 So Godaddy is a very, it’s the largest retailer of domain names in terms of the online store where you can buy and register domain names and they have somewhere around 33% of the entire domain registration business. So they are definitely influential and definitely very valuable data. And then the third one was a presentation by the Radix CEO, R-A-D-I-X and he is a very, very data driven discipline kind of a guy. And so when they launched their top level domains, things like .press and .online, they did this very exhausted dictionary search and they did all kinds of Google volume analysis and bunches of analysis to make sure they had the best chance at developing a sustainable and profitable business model. And I think they have. So it was encouraging of him to share some of the discipline that he puts in, in running a top level domain, which we all are learning from. So those are the three that stood out to me.

13:07 one point I think came out and again we were in Vegas, so a lot of people have swagger and you don’t know if that’s swaggers real or not, especially when it’s in Las Vegas, right? So there are people who make these claims that they’re living off of internet domain investors. They’re buying domains up by the dozens every day and they’re selling them and making, you know, it’s like a gold mine, etc. But Godaddy came out with some data that showed the sweet spot if you are a domain investor is to fine domains and then be able to sell them not for millions of dollars, not for tens of thousands of dollars, but I believe it was somewhere around the 2,500 to $3,500 maybe up to a little bit above that. But that was the sweet spot for reselling of domain. So if if you’ve got or portfolio that that probably is a reasonable estimate if it is commercially viable that you might be able to get a couple thousand dollars for it.

16:00 So you’re buying about a thousand domains a year. And they said that if that target sweet spot is 2,500 to $3,500 to flip it and then you get a one percent sale rate that within three years you should be break even or profitable, and then not soon after, very soon after that, you should be able to go full time in that business, which I thought was an interesting place. The fact that, hey, if you can find and would GTLDs I think that is the question with any of the new GTLs that are out there. There are plenty of words that typically would be premium if it was an a .com, org scenario, but may not be. And you can, you don’t need to pay thousands of dollars for it on any of these new GTLDs and yet, so you might get it for $50, $60, $70, and then you can position it to have it sold.

20:32 I was just talking with a graphic design firm about a month ago. And he was saying that in the process of branding and identity and creatied, one of the first steps that’s part of their process now is looking for in the available domain name. So it’s become integrated into your branding and startup and naming strategy. And there’s a media company that’s been in the news, you may have heard of them, Buzzfeed and they have a section that’s buzzfeed.news and they actually incorporate that into their logo. So it can be a very strong branding to use a top level domain that has meaning and not just tags along like a .com.

25:42 I like what today.Bible is doing. So if you make that your home page, you get today’s daily reading on your home screen everyday. So I thought that was a very convenient one. And then we have certainly many partners, sites like free.bible is the quickest, easiest way to share the Bible app with others to install and download. We have good partners across different confessions of Christian faith, like catholic.Bible in greekorthodox.bible. And then one of my favorites is insta.bible out of a play off the Instagram phenomena that insta.bible, it has this guy named Kenny. I need to you Kenny Jahng. Yes. In process of creating a parable Bible verse image for 30,000 plus Bible verses every single one on .Bible.


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