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We just made some major moves, folks...
Every one of us has gone out on a limb to some extent during our crypto careers, but I just made my biggest bet yet: .Crypto Domains.
My .Crypto Domain thought process & strategy
When I first heard about .Crypto domains, I was skeptical of the appeal from a purely website standpoint.
Would Bob Businessman rather name his website BobsBirdhouses.com, or BobsBirdhouses.crypto? At our current and foreseeable-future level of adoption, it's pretty obvious that the former has broader appeal. The fact that you can make your website uncensorable is cool I guess, but right now, so few people care about this that it's a non-factor in my value analysis.
HOWEVER, once I learned that they also act as a "handle" for sending and receiving crypto (a la Cashapp, Venmo, etc.) I was sold.
We can all agree that humans pay a massive premium for convenience, status, and recognizability... but how can we use this knowledge to our advantage?
If my name were James Smith, (the most common name on earth) and I wanted to request a Bitcoin payment from my friend, would I rather tell them
The choice is obvious: JamesSmith.Crypto
So I bought it.
PHOTO OF MY PURCHASED DOMAINS, WITH ARROW POINTING AT JAMESSMITH.CRYPTO
And thus begins phase 1 of my .Crypto domain master plan...
Master Plan Phase 1: Ultra-Common Names
First, I did a quick Presearch on the most common last name in the developed world.
The winner? Smith, by a landslide in USA, Canada, UK, and Australia.
Next, I researched the consensus most most common boys first-names.
Why specifically boys?
- More interested in crypto
- More interested in money in general
- More likely to shell out cash for the ego protection of name ownership
I scanned through half a dozen websites' rankings, and noted the consensus top choices.
Then, I went through this aggregate list one-by-one, plugging each name into Unstoppable Domains, slapping "Smith" onto the end of it, choosing the ".Crypto" option, and tossing it into the cart (all the way up to #50 or so on the consensus rankings).
Is this a dick move?
Part of me feels like an asshole for buying someone's name with the sole intention of profiting off of it later, but let's think about this.
If you can look me in the eyes and tell me you wouldn't go back to the 90s and buy "bob.com", "joe.com", "john.com" etc. to flip for hundreds of thousands to millions of dollars today, congratulations! Here's a gold star for your outstanding consideration for letting someone else get rich instead of you.
Me? Hell yeah I'd take that shit.
It's a dog-eat-dog world out there, folks. I'd rather be an opportune mild-asshole than a broke saint. But the choice is entirely yours.
Master Plan Phase 2: Community Identities
Ever heard of PewDiePie?
Love him or hate him, he has over 100 Million subscribers on YouTube, and this audience is young, inherently tech-savvy, and often enormous fans.
I've probably watched about 15 of his videos in total, but that's all it took to catch onto one of the channel's inside jokes:
Picks like this are complete darts, but I took the leap on FloorGang.Crypto. The value proposition of a one-time $40 payment was just TOO good to pass up.
This is just one example of piggybacking on social media influencers with rabid fanbases. Leveraging these communities carries a ton of potential!
Master Plan Phase 3: Random Catchy Phrases
Like I covered earlier, EVERYONE wants their primary method of payment to be easy, and recognizeable. That said, the catchier the domain name is, the more people will be willing to make it their exclusive payment gateway.
So, I Presearched the following: "Different ways to say 'hell yeah'"
Similarly to Master Plan Part 1, I just skimmed through this list and picked out the ones that are the shortest, simplest, and most timeless.
A couple of my favorite adds were "CoolBeans.Crypto", "VeryCool.Crypto"
As of June 2020, the long-term value of this new ".Crypto domain" is largely uncertain.
It could be remembered as a weird website extension that never caught on, or it could become the domain that the majority of the world buys to transact their crypto easily and conveniently.
But by using these long-proven marketing strategies, I feel good about taking the leap.
Let's face it...at the end of the day, I'd rather risk looking back someday and laughing about wasting $1,400, than be the guy that passed on buying "Amazon.com" back in 1985 due to fear of uncertainty.
I've made my bet.
*I use and love all of these, so feel free to ask questions about them in the comments!*
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