New TLD sells for $100,000 plus premium renewal rates.
Consulting firm BearingPoint has paid $100,000 to Minds + Machines for the domain name Net.work, and that’s just for the first year. It will pay an undisclosed premium renewal to continue using it after the first year.
Minds + Machines took a different tack with .work, offering registrations for a just a couple bucks at retail. It also offered up to ten free .work domain names per customer at its own registrar, helping to boost overall registrations to 55,000.
A Minds + Machines spokesperson says the $100,000 sale validates its strategy of offering the domain name for a low price to raise overall awareness of .work and then capitalizing through premium domain name sales.
Net.work does not yet resolve.
Domainer Extraordinaire says
How could someone be so stupid? They will have to spend a fortune trying to brand this and end up just creating more traffic for network.com. This type of stupidity strengthens the hell out of .coms.
Acro says
Executive summary: The buyer is a multinational company, so check out their Annual Report.
John says
Dumb multnational, then.
I hope they enjoy sending all their hard work to .com from traffic leakage.
Pete says
When did you last do a “search”?