Proposal: Adjust price of rare domains to demand

Hello, this may be a controvertial idea but i think it make sense, i’ve been looking closely at auctions for 3 letter domains and i’ve noticed that there is few bidding on them so i think that the price for short domains (1-4 chars) is not ajusted to the real demand, i have made a calculation of the average price paid of the top auctions of three letter domains and found out that the average price is $86 and the median is $63 this contrast to the current fixed price for 3 chars domains: $640 (10x the median) and this is counting only the 15 top sales meaning that the actual average could be even lower.
I assume the demand for new registration of 3 chars domains is low or non existent so i would like to propose to ajust this price every week to match the demand.
This is the data i used to calculate the average:
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Source: https://solanafloor.com/domains/top-sales-30d

So if I understand correctly you are implying that demand is low for 3-character domains because the price is too high?

I think the markets are a little slow right now. I would wait to see what happens over a bit more time. I’m not a fan of changing 1-2 character name new registration prices though.

For 3 letter domains (abc.sol Latin alphabet) the price is low on the resale market and the sales are still slow. I had many 3 letter names listed for $50-$80 over the last couple months and there is very low interest even at this price. Based on this I would wait a bit more time to see how things go.

3 number domains (like 667 which I think was mine) are more valuable since there are only 1000 of them. There are 17,576 3 letter domains but that doesn’t include nearly infinite combinations using emojis and other characters instead of just Latin letters. There are billions of 3 “character” domains.

Yes, i think that $640 is too expensive right now for 3 char domains based on the auctions of the last month. I assume there is little demand in direct registration 3 letter domains, may be you can provide some insights on this.

Last week average 3 letter domains (accounting just the top 100 sales) was: $22.56
Sales (last 7 days):

domain price
ntc 28.35
kas 33.74
aib 19.5
kob 17.72
3o1 13.5

Source: https://solanafloor.com/domains/top-sales-7d

As a personal statistic, i have bought 18 three letter domain for an average of $25.5 each.

I just realized the price scheme for two and three chars domains are similar to .ETH domains, i do think .SOL domains has the potential to grow and even outpace .ETH but right now all metrics(nft volume, active wallets) value solana assets at 10-20x less than their counterparty in ETH. Would you please reconsider the price scheme of short .SOL domains?

I am still confused by your reasoning.

If I understand correctly you are implying that demand is low for 3-character domains because the price is too high. I think the demand for 3 character domains is low because the most valuable ones have been bought and people want to hold them. Therefore, the ones being auctioned are not the ones that have the most value and this is why they trade at a relatively low price.

Lowering the price will not create more demand on the primary market because the valuable domains have already been registered. People are free to price 3 character domains as they want on the secondary market.

My opinion is that I would leave the price alone for now.

  • The secondary market benefits from the price of new registrations on 1-4 characters being where they are.

  • If someone like me lists an secondary name with 3 characters for $50 or $100 it’s because the demand for that name is lower. New reg price being $640 makes my resell more likely to have value even though it’s less of a premium name.

  • Most, or even almost all, of the top 1-3 letter names are already owned and if one came up for sale like IBM, AAA, WOW, HI or something - it would sell for way more than $50. Same with emojis. Even most of the 1-3 character emojis are taken. Believe me I have been through them…

  • And, people do pay the new registration prices for 1-4 characters that are left. They are also the same as ENS which is fair.

My perspective is from an investor, i would like to acquire more short domains but i think that they are not priced correctly, i think that a fair price would be around 1/20 to 1/10 the price of a new .ETH domain. Its true that the most valuable short domains are taken but that doesn’t mean that there are not domains that could have a decent value and investors like me could benefit from betting on it early and be rewarded for believing in the potential of that assets. I do think that lowering the price will create more demand and i’m sure that demand colapsed after the new price scheme was implemented but that information is not disclosed by bonfida, it would be interesting to see that statistics if you are willing to make it public, i appreciate your dedication to engage in the community concerns.

I have an idea, you could lower the price temporarily to see if there is more demand, it can be an event/special promotion like black friday/cybermonday/whatever. I think that would confirm my theory.

There is little demand because all the good domain names have already been bought, that’s all.

Saying that ALL the good domains are taken is like saying that everything has been invented. Not so long ago NFT was just a random three letter acronym, last year “nft.com” was sold for 2 Million dollars, the average 3 letter dot com domain is being sold in the range of 10k-100k USD, there are still good oportunities for sol domains.

Last week there were only two sales of 3 letter domains:

domain price
ctx 21.50
mt9 6.17

Average sale: $13.83

Four letter domains last week:

domain price
muff 37.08
krux 35.12
damu 15.61
ojas 10.34
losa 6.83
vite 5.85
xapp 5.27

Average sale: $16.58

Source: https://solanafloor.com/domains/top-sales-7d

Bringing this thread to live again, yesterday were auctioned a lot of 3 char domains and it seems the interest is at all time lows, i was tracking 37 domains and it ended selling for an average of $5.65, the cheapest was nkl.sol sold for $1.58, it’s incredible that domains that FIDA sells for $600+ has that little demand, so would you consider to ajust the price of that domains? if not would you like the idea to airdrop 3 char domains to current holders (if you are convinced that the market value these domains at that price it could be an interesting way to satisfy the desire of holders to be airdropped).
Thanks

This are the domains that i was tracking:
Domain Winning bid
0xe $2.184
0xg $4.48
596 $4.648
812 $2.744
vop $3.6456
xpt $3.64
usp $7.84
imy $22.4
icq $2.7608
zyz $8.3048
ddb $2.6488
faz $3.5336
sma $3.808
vhc $2.6824
ajh $3.136
awx $3.9928
bkh $2.856
cnp $5.04
ctb $3.528
erp $5.04
gtt $6.72
ieg $4.48
jbx $3.36
jta $16.4976
jtm $1.9376
kjh $2.7104
kkv $6.16
kmp $4.9
nbn $6.16
nkl $1.5792
ojs $6.72
ruh $4.76
sgg $24.08
uct $6.16
wkr $3.136
xx1 $2.912
ob1 $8.064

Total $209.25

Someone auctioned a lot of 3 char domains this week, most of them ending around $32. Would you please consider at least return the auction system for domains of 4 or less chars? let the market decide the fair price.

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