iPhone.com Domain Name Sells for $1 million +
Back in 1995, Michael Kovatch bought the domain name iPhone.com. He knew that it was a good name, but he couldn't know that one of the greatest product launches, the Apple iPhone, would be coming. And now Mr. Kovatch's time has come, as he has reportedly sold the domain name for more than $1 million, according to Domain Tools Blog.
Kovatch had registered the domain name with the thought that Internet telephony would be the wave of the future. And while he lucked out that Apple's hot new product bore the iPhone name, his foresight was not entirely accidental. Today, domainers with vision can come up with good names using similar strategies—identifying future trends and scooping up the domains.
Now that all generic keyword domain names are gone, brainstorming future product ideas and trends is one of many effective strategies for acquiring potentially valuable domain names.
Another forward thinker, Kevin Ham, a retired doctor from Canada and owner of hundreds of thousands of domain names, made an early investment in .cm domains in a partnership with the government of Cameroon (owner of the .cm extension). He now takes in an estimated $70 million per year from his 300,000+ domain name portfolio.
In an industry where the market landscape is in constant flux, there are many opportunities to cash in.
Source: Domain Tools Blog
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