History | Domain name Industry Today
Back in the 80’s the creators of the Internet required a way of breaking down what is called IP Addresses into a formula that made reaching websites easier for people to remember. DNS or the Domain Name System was created to resolve these IP Addresses in url’s that could be easily recalled by anyone utilizing this new technology. DNS and the Internet was then broken up into groups called tld’s such as .com, .net and .org in order to organize the content that was sure to follow.
In the 90’s, spectators and pioneers of the domain industry realized the potential in these short, authoritative and brandable domain names. Back then, registrars such as Network Solutions were charging seventy dollars a year to register these domain names and plenty of them were available. As more registrars showed up on the scene the natural law of competition drove prices of these domains down but the number of registered domains went up drastically. An organization open to the public and run by authority figures respected in technology and academics named ICANN was created to regulate and manage the registrars, allocation of IP Addresses, assignment of protocol parameters and management of the root server system.
With the domain name system in place, people such as Michael Mann originally of Name Media, Bill Mushkin of Name.com, Kevin Ham and Yun Ye who happen to be some of the largest portfolio holders in the world made their millions exchanging URL’s. As an example, the gentleman by the name of Yun Ye makes roughly $100,000 a day just from what is called direct navigation, this is proof that the domain name industry was and is not an industry to be ignored. Others such as Skip Hoagland owner of MyrtleBeach.com who had the foresight to buy in early a domain for $10,000, now makes a healthy million dollars a year off that domain and website alone. These and many others speculated on a new way of seeing the world and media as a whole and have reaped the rewards for years.
Domain Name Industry Today
Today the domain industry is alive and active as small, medium and large companies have come to recognize the importance of protecting and pushing their brands. As well, individual generic portfolio holders have also become quite active and learned to do business with interested parties and corporations looking to utilize that savvy .com domain. The sound of a seven figure domain being sold has not become unfamiliar as more and more companies come to understand the power of a short, brandable and generic domain name (just see www.dnjournal.com ).
With daily auctions being held by companies such as Moniker, Oversee.net, Bido.com and Sedo the domain name aftermarket has become more popular than ever. In fact, just about anyone with a few extra hundred dollars can jump right in and begin buying and selling, Trade shows have become common place being held around the world by organizations such as ICANN and www.targetedtraffic.com . Domain names have become a lucrative industry that anyone from your school room teacher up to the head of marketing for a Fortune 500 company can enter.
On the other hand, while disputes do occur on a daily basis, companies such as ours exist to assist in avoiding such a dilemma or facilitate in clearing them up. Legal help is readily found in order to facilitate any acquisition of domains that may have bad faith intentions.
So feel free to contact NameConnect with any questions you might have, we are happy to assist in consulting, teaching and assisting in any domain name acquisition.