A Domain Name is a unique property. Just like real property at a physical location on the Earth, there can only ever be one of each domain name on the Earth. That’s where the natural value lies – that there is (and can only ever be) one of that Domain Name on the entire Planet Earth.
A physical property and it’s address (ie with multiple suite #s) can be built out and up and expanded almost infinitely (subject only to the natural laws of physics.)
Similarly, the domain property and it’s internet address can be built out and expanded infinitely as well (ie by adding additional extensions and multiple subdomains.)
A physical property owner has the right to sell or monetize the rights to use that property and its address, and to exclude anyone else from using it.
Similarly, the domain property owner has the right to sell or monetize the rights to use that domain name, or exclude anyone else from using it. This is built-into international laws and the global domain system. It is absolute and impenetrable.
A physical property and its address cannot be used or reproduced or counterfeited by anyone else and thus there is no inherent cost to protect it. However there are financial costs and risks associated with retaining or storage of the asset (in the form of taxes and property maintenance fees.)
Similarly, the domain property cannot be used or reproduced or counterfeited by anyone else as well. However in the case of a domain there is no inherent cost to protect it, tax, or other financial risk associated with retaining or storage or maintenance of the asset (except a yearly $10 or so registration fee.)
The Domain Name is a fundamental aspect of Branding.
Branding is about two things, primarily…
the mindset of the audience or buyers you’re trying to reach and
the context within which the brand is positioned
Understanding these two things is paramount.
Psychology is the main skill set needed for the first understanding the mindset of the audience or potential buyer.
Research is the main skill (and the main investment) with regard to understanding the social context and positioning (as its regional natural landscape.)
Think of context like the neighborhood – so for a domain name the neighborhood is the other extensions that are already in existence – who owns the other properties and what have they done with them or are they just up for sale? If they’re unregistered or up for sale then you have the opportunity to establish your brand presence first.
So in deciding how much money to spend on this research it’s important to decide on a scope of presence – how wide and how far does the research go and what does it focus on what are the factors?
It’s like looking for a house shopping for a house a real estate agent representing a property so it’s those same kind of factors that are involved.
A really good or genius real estate agent would be a really good domain agent for all the same reasons. It’s all the same psychology. It’s just different factors but it involves all of the same equations – the very same type of sales process.
A good real estate agent is guiding their client on a journey through projecting those life factors, those life situations, and the psychology of that client – how they think about their life, how they think about what’s important to them – what are their values. In any sales job, any sales person is innately an agent for the client – they’re a matchmaker.
The goal is to understand the person that you’re serving or trying to help or guide, and on the other hand you’ve researched their options so that they don’t have to, and so you can help them simplify that process and proceed more thoroughly and also more efficiently.
How do NFTs (and their inherent value) as assets compare to domains?