Earlier in the week, I reached out to the leading domain name auction platforms and sales marketplaces to see if they have plans to accept cryptocurrency. From my perspective, it would make sense for people who are active in the cryptocurrency community to be able to spend their cryptocurrency to buy domain names.
According to Tobias Flaitz, CEO of Sedo, the company is “planning to accept cryptocurrency some time in the future.” Tobias added, “We identified at an early stage that there are several touch points between domain investors and crypto currency investors. Therefore our focus is to offer attractive opportunities for domain sellers and parkers, such as allowing payouts in crypto currencies and many other options.” The timing and particulars about which currency will be accepted are both up in the air at this point, but I think this is a very good step for those who own or actively trade cryptocurrencies.
Tobias also announced that Sedo just began allowing customers to transact using cryptocurrency on deals that were brokered by Sedo domain name brokers. This is a new service for brokerage deals, but if there is enough demand, the company may expand it to offer-counteroffer deals, buy now sales, and domain auctions. Here’s what Tobias told me about this:
“What we already support is closing a deal where the Seller agrees being paid by the Buyer in Cryptocurrency, no matter which one. We facilitate the entire process and support the domain escrow with Customer Support and Account Management to ensure a professionally supported and reliable as well as trusted change of ownership. This will already give us some more concrete insight into the usage and acceptance of payment via crypto currencies in the domain industry.”
In addition, Sedo will begin allowing .eth domain names to be listed for sale on its platform. The company expects this to go live within the 1st quarter in 2018.
2017 seems to be the year that cryptocurrency had its break out, and 2018 may be the year it is more widely integrated within domain name platforms and marketplaces. There are quite a few domain investors that are also very active in that business, so I would expect to see some cross-over in the near term.
If you have any questions about transacting with cryptocurrency via Sedo, be in touch with their customer support team.