Record-Breaking Domain Purchase
Crypto.com founder Kris Marszalek has bought the domain AI.com for $70 million, setting a new record for the most expensive domain purchase, according to the Financial Times. The deal was paid entirely in cryptocurrency to an unknown seller and was brokered by Larry Fischer. The price exceeds previous high-profile domain sales, including CarInsurance.com at $49.7 million in 2010, VacationRentals.com at $35 million in 2007, and Voice.com at $30 million in 2019. Other notable transactions cited include PrivateJet.com at $30 million, 360.com at $17 million, and Sex.com, which sold twice for more than $13 million each time, with its second owner later going bankrupt while trying to monetize it.
Fischer told the Financial Times that assets such as AI.com have no substitutes and that when one becomes available, the opportunity may not appear again.
Planned Product And Super Bowl Timing
Marszalek plans to introduce the site during Sunday’s Super Bowl broadcast. He told the Financial Times that the service will offer consumers a personal AI agent for messaging, app usage, and stock trading. He said that over a 10- to 20-year horizon, artificial intelligence would be one of the largest technological shifts of the period.
The launch timing links the purchase to a high-profile advertising moment, placing the new product in front of a large audience during the game.
Context Of Spending And Open Questions
The purchase adds to Marszalek’s previous spending, which includes ownership of Crypto.com and a $700 million deal for stadium naming rights. The article notes that whether high-priced domain names generate returns remains uncertain, even as this transaction resets benchmarks for digital real estate.
Featured image credits: Wikimedia Commons
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