Namecheap bought a Handshake domain for $750,000 – Domain Name Wire
The domain auction ends with a bid worth $750,000.
This afternoon I received a few emails from people participating in the Handycon 2022 live domain auction. A bidder named “whale” just won an auction for .s Handshake domain for 4.7 million of HNS tokens. At the current price of just under $0.16, that’s around $750,000.
Namecheap CEO Richard Kirkendall confirmed to me that he was the winning bidder.
This is the highest known price ever paid for a handshake domain.
The top-level domain was originally purchased for approximately 63,000 HNS at an auction in November 2020.
Handshake domains don’t work like normal domains. They are based on blockchain technology, and for anyone to visit a site built on a site, people need to use a special browser or plugin. Blockchain-based domains are becoming somewhat popular for crypto wallet addresses, but I don’t know of any websites built on it that have become mainstream. They face difficult challenges.
What’s special about Handshake is that you can buy the top-level domain – in this case .s – and then sell second-level domains below that.
A few domain registrars offer handshake second-level domains, including Namecheap. So in this case, Namecheap will act as a registry for .s and offer the domain to its customers. Other registrars may also offer the domains and pay Namecheap a registry fee.
Namecheap also has Namebase, a popular on-ramp and marketplace for handshake TLDs.
I imagine the appeal of .s is that you can take any singular word and pluralize it, like domain.s or flower.s.
This story has been updated to reflect the identity of the buyer.