HeartBeat: THE BASICS: 12 TRUTHS ABOUT DOMAINS, DOMAINERS AND DOMAINING

Ok, alot of people have been using this thing called the internet (or web) for what seems like ages. Whether the journey began in the AOL disc and dial-up days of the 1990s, or the more recent smartphone, tablet and Wi-Fi era, domain names, domainers and domaining have all been part of the equation. Despite this, many everyday internet users draw a blank when asked about how either works. If you’re one of these people, don’t feel ashamed. Now represents a learning opportunity. Let’s get you up to speed with 12 TRUTHS ABOUT DOMAINS, DOMAINERS AND DOMAINING.

1. 'Domains' is another word for 'web addresses' or 'website title'.

When you visit a website, there’s typically an address bar at the top (sometimes bottom) portion of your screen. In this bar, you’ll see a set of words that might even include numbers, dashes and forward-slashes. That's a domain. Similar to how the address on a home or building acknowledges where it's located on a street, domains tell you exactly where you are on the web. FUN FACT: There are International Domain Names (IDNs) that can be registered in other languages.

2. 'Domainers' are people who buy, sell and/or trade domain names.

Car salesmen sell cars. Art dealers sale art. For domainers, the assets for sale are domain names. Many domainers stake their conviction in a domain for the sake of building it out and/or selling it for a profit. As with any field, some domainers operate ethically; while others make a name for themselves as bad actors. Another thing worth noting is there are companies of various sizes that sell domains. They too can fall into the category of ethical or bad actors.

3. 'Domaining' can be extremely.......profitable.

So, one thing that shocks many people who are unfamiliar with domaining is the sticker-price some domain names sell for. For context, it’s worth noting domains can be acquired for as little as $1 USD. This puts generating a profit well within reach. Especially if the name is quality and the seller invests the effort to let the world, and potential buyers, know that it’s available. FUN FACT: There are quite a few domains that have sold for millions of dollars.

4. There’s domain RENTAL; and there’s domain OWNERSHIP.

For quite some time, every single domain used on the conventional internet has been rented. Regardless of whether it’s the website of a major retailer or brand, it uses a rented domain. Domain rental terms typically start at (1) year and max out at (10) years. In the case of blockchain/Web3 domains, many can be owned forever following the payment of a single registration fee. As for whether rental or ownership of a domain is better, it all depends on the needs, preferences and intent of the end-user.

5. Domainers are real people. (At least most of them.)

You might be thinking “Who’s actually a domainer?”. Well, the answer is “real people”. Domainers vary in age, cultural background and social-economic status. They exist around the world; but most don’t wear “I’m a domainer.” plastered on their shirts. Some do have domainer brands/businesses they’ve built and promote though. However, others are stealth-domainers that enjoy their privacy and making sales anonymously.

6. Domaining is open to everyone. (Sort of.)

Domaining is unique in the sense it can be treated as a career, part-time job or hobby. The beautiful part is the domainer decides which applies to them. The barrier to entry, at this point, is relatively low; and one simply needs an internet connection, a little money and a desire to learn to get started. Granted, things like domain quality, domainer effort and market conditions have a degree of influence on how much of a resale profit can/will be generated.

7. Domain names come in different flavors and have different meanings.

As an internet user, you’re probably familiar with domains ending with the .com extension. What you probably didn’t know is .com means “commercial”. Despite its popularity, there are actually thousands of other extension options that suit a variety of digital endeavors. In the blockchain/Web3 sector, there are millions of extensions. This means there are some great options outside of .com to choose from when curating the perfect domain/web address.

8. Domainers are narrative sculptors.

With many aspects of domaining being profit-driven, some domainers weave bias into the narrative they leverage to pitch/offer domains. Especially as it relates to what they believe constitutes a great domain name. For example, domainers who favor extensions like .com have sculpted the narrative it’s the king; while a new breed of domainers are staking their conviction in extensions like .ai, .bot and others. In domaining, preference and profit shape narrative.

9. Domaining is an art.

One of the biggest misconceptions about domaining is that it merely requires money to succeed. This is far from accurate. Domaining requires continuous learning, patience and lots of creativity. Sure, some domainers get lucky with sales; but the majority have to curate their approach to acquiring, managing, building out and hopefully selling each and every domain. Sure, a lot of this is by industry design; but there’s definitely an art to profitable domaining.

10. All domains are NOT created equal.

The key element of a domain name, aside from its readability, is function. This is commonly referred to as utility. The utility of conventional domains peaks at website and email addresses. For blockchain/Web3 domains, utility extends into cryptocurrency wallet addresses, NFTs (Non-Fungible Tokens) app-login IDs, digital identity data-hubs and more. FUN FACT: Thanks to blockchain technology bridging, conventional domains are being afforded utility-upgrades.

11. Domainers are visionaries. (At least those with broad foresight.)

At one point or another in our lives, we’ve heard someone reference “the big picture”. More often than not, domainers are tasked with focusing on the big picture when deciding which domains to acquire. There are domainers who acquire domains today based on the tremendous value they believe they’ll have in the future. Needless to say, this can easily translate into holding domains for years before being afforded the chance to make a sale.

12. Domaining is evolving.

As the world plays host to more technological advancement, we’re inching closer to a noticeable evolution in how the internet works. Since domains are a key pillar for the internet's infrastructure, it’s not shocking advancements like Ai and increased interconnectivity are reshaping the manner in which domains are viewed, utilized and thus sold. This has placed domaining on a path to becoming more inclusive, less exclusive and more beneficial for all.

With everything covered, hopefully these 12 TRUTHS ABOUT DOMAINS, DOMAINERS AND DOMAINING have brought you up to speed on the basics. Until the next one, take care.

NamerTips is an education and advocacy brand that promotes healthy community, culture, creativity and commerce. Our goal is to help bridge wholesome experiences with equitable opportunities in the blockchain and internet technology sectors.

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