How do you buy and resell an NFT domain and make a profit?
An NFT domain represents multiple things, including a speculative opportunity. That's right, you can make money by selling a popular domain on platforms like Opensea. First of all, however, it is necessary to purchase and own this domain, and for this I refer you to this article which explains in detail how to do it:
How to Buy an NFT Domain with $20
In summary, you need to have a profile on Unstoppable Domains, and to do that I leave you this link:
https://unstoppabledomains.com/?ref=a9140a379b2647f
Then you search for a domain using the "search" function and choose the one you want to buy. Once done, you can proceed with the payment by choosing between credit card, crypto or Paypal. I suggest choosing a domain that can be of public interest if the purpose is speculative.
For this example, I have chosen the domain "luckywallet.bitcoin", and I will try to resell it at an amount that allows me to have an excellent economic return.
It should be known that this type of internet domain is in effect a non-fungible token (NFT) and as such can be stored in a wallet such as Metamask. Furthermore, recently Unstoppable Domains has implemented the possibility of minting the domain on the Polygon Network, as well as on Ethereum. This greatly lowers the gas fees to be paid to move the token and allows many people to sell their domains without spending a fortune. The fees paid to mint it and then put it on sale amount to a few cents of a dollar.
Minting
We have seen, therefore, that when you buy a domain on Unstoppable Domains you must then "mint" it. Doing so is very simple: just go to the "Domains" section, then "My Domains" and select the domain we have purchased. Once this is done, click on "Free Mint" and connect your wallet. But be careful, for those who use Metamask it is necessary to set the Polygon Network before doing this operation. To set it up I leave you this article that explains it:
The METAMASK Tutorial
How to sell
When we are the actual owners of the domain, like any other NFT, we have the possibility to sell our token on platforms that deal with the sale of NFTs such as Opensea. To do this, you need to browse the Opensea.io site and connect the wallet that contains the token. I recommend everyone to first create a profile to associate an email and their public address. Subsequently, it is necessary to proceed with the listing of the NFT which requires the signature of a transaction (therefore a minimum non-zero $MATIC balance is required).
You must therefore choose the period for which our product will remain on sale and the price at which you want to sell it. The time period varies from 1 to 30 days and as regards the price it can be set as a minimum bid or as a fixed price. With that done, all that's left to do is wait.
My final thoughts
In this last section I would like to define what the correct selling price is for an NFT domain. First of all, it should be considered that it is a unique domain of its kind, in the sense that it differs substantially from a traditional domain. Furthermore, it does not exist and a copy cannot exist since it is a unique non-fungible token. For this reason, the scarcity component has a huge impact on the potential price and leads it upwards especially as the domain is in demand. As an example, there are domains like "tothemoon.bitcoin" sold for several thousand dollars. It seems obvious to me, however, that such a high price is perceived as "fair" only by the buyer who can afford it and who understands its value. All the others, on the other hand, will consider it a dishonest or excessive price. So I conclude by saying that there is no price range that perfectly reflects the value of an unstoppable domain, but every domain sold has been sold at the right price.
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