NEW YORK, NY – It’s been a very interesting few years recently hasn’t it? As if there weren’t enough reasons for your typical domain name investor to diversify his online bets, here comes another big one.
Financial powerhouse JP Morgan Chase has announced it will be launching its own cryptocurrency called “JPM Coin” with a fixed rate value of $1. The move solidifies a [sort of] ‘questionable’ industry with instant validity in my opinion as JP Morgan acts as the first major U.S. financial institution taking serious notice.
One might reasonably assume that JP Morgan jumping into the business and launching a bitcoin-like currency and technology all its own will further push investment into this area.
Domain names sales have been effected greatly in the last few years with not only the growth and interest in Bitcoin and/or other Blockchain based technologies but also from the launch of new gTLDs which are grabbing a lot of the money that ordinarily would have been spent on traditional domain name extensions including the king of all dots, the .com. All of this change is moving lots of money around to other areas of investment.
Additional factors hurting values are no-doubt the weakening of exact-match domains – there not equaling instant success that is, like they used to. The market today holds many more questions about value, development, monetization, use and benefit than ever before – not to mention the many growing ridiculous privacy and legal challenges such as GDPR and the increase in erroneously used RDNH and UDRP processes.
Will JP Morgan’s new launch into the Cryptocurrency business compare to a Bitcoin salesman dressed in a hooded sweatshirt with a knife selling against a JPM Coin rep dressed in a suit and tie – backed by one of the most reputable companies in the business? Do you think this new development will lead a further squeeze in domain name sales prices? Let me know in the comments below.
Referenced SR stories:
- Greatest Benefits of New gTLDs is PR, Temporary “Buzz Factor” “Link Equity”
- EDITED: Why Great .com Domain Names Are Paying Less Dividends for Investors
- How to Become a ‘Rockstar Domainer’ by Developing Your Own Domain Assets
- More Bad News for Monetization with AdSense; Introducing Lazy-Loaded Ads
- Internet Isn’t for Sharing: More Disastrous EU Legislation Coming Down the Pike
- ICANN Should Create Penalty for Reverse Domain Name Hijacking (RDNH) Rulings
- ADO Decision Is Embarrassment to ICANN; Serves as “Gift” to UDRP Reform Argument
- Who Needs Domains and Websites Anyway? Google Say’s “You’re A Loser”
About The Author: John Colascione is Chief Executive Officer of Internet Marketing Services Inc. He specializes in Website Monetization, is a Google AdWords Certified Professional, authored a ‘how to’ book called ”Mastering Your Website‘, and is a key player in several Internet related businesses through his search engine strategy brand Searchen Networks®