PROPOSAL: allow .sol domains to be listed on secondary marketplaces

PROPOSAL: allow .sol domains to be listed on secondary marketplaces, such as Open Sea and Magic Eden.

This would increase the value of existing domains, improve secondary market sales and ease of execution, and also help to spread awareness of the Solana Name Service more broadly.

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This is something that is already possible. Secondary market places also have a financial incentive has they can receive 20% of the fees for secondary auctions.

Digital Eyes is in the process of integrating and should be finished pretty soon, I would love to see more market places doing the same!

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Digital Eyes secondary market place just went live DigitalEyes Market :rocket:

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@bonfida: Digital Eyes secondary market place just went live DigitalEyes Market :rocket:

Good news!

@bonfida: This is something that is already possible. Secondary market places also have a financial incentive has they can receive 20% of the fees for secondary auctions.

The functionality I (and I believe others) want as sellers is the ability to list domains for secondary sale, and receive offers, without launching auctions. Similar to selling NFTs on Magic Eden, or .eth domains on OpenSea. Running auctions is relatively time consuming, and less effective.

Question: does Bonfida allow 3rd party marketplaces to implement this method of sale now? Or will Bonfida implement this method of sale itself anytime soon?

It looks to me like Digital Eyes is a mirror of Bonfida auctions, rather than an OpenSea style market. Good for getting more attention on auctions, but it does not reduce the difficulty of managing auctions.

Your feedback is well received. WIll dicuss with NFT marketplaces further to see how they could potentially support this.

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Your feedback is well received. WIll dicuss with NFT marketplaces further to see how they could potentially support this.

Thanks @cynthiaqqq. That would be great.

So Bonfida would support this, it would just require 3rd party implementation? That’s what I would like to know.

Still in discussion. Will keep everyone updated

@bonfida If a 3rd party website (like OpenSea or Magic Eden) wants to list domains for secondary sale, not auction, would Bonfida allow this? YES/NO?

Perhaps I, or others in the community, can make this happen. But I would like clarity on whether Bonfida imposes restrictions on sale. As .sol domains are decentralized, I assume market participants have the right to buy and sell freely, wherever they choose, but it would be appreciated if you would confirm this.

Thanks!

I agree, i would like domains to me on ME, etc and have a different auction format. That or update your site please.

@solszn It’s decentralized and permissionless, anyone can list and build what they want. We are certainly not opposed to anyone creating their own secondary market place.

Just clarify, what you are asking for is a way for buyers to express interest in a domain name that is not for sale and place an offer on it?

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@bonfida, thanks for your reply.

Just clarify, what you are asking for is a way for buyers to express interest in a domain name that is not for sale and place an offer on it?

No.

The key thing is secondary sales should not be on an auction timer.

Similar to primary domain sales on Bonfida (now), or domain listings on Open Sea.

  1. Seller lists domain for sale (no auction timer) with a price
  2. Buyers can obtain it immediately by paying that price
  3. Ideally, buyers could also submit bids that are lower than the listed price, which a seller could choose to accept, or not

I totally disagree. Auctions are a critical part of selling domain names (and many other things). This allows valuable assets to reach maximum potential sales prices. If multiple people want to buy an item at the same time this greatly rewards the seller. If one wants to have a static price they can simply use the “Buy Now” feature. If you want to sell something for a static price simply list it for 20 FIDA bid and 20 FIDA buy now - for example.

Also, some people have a name that isn’t selling so they can list it for a very low minimum bid and it then has a chance of getting bid up higher than if they sold it for a static price. I have seen this multiple times. It gets the domain sold and has that potential upside if you get lucky with bidders.

Nothing wrong with having a way to contact people to bid on domains that are no longer listed for sale or if someone wants to lowball a sub minimum bid offer. But, having auction options for a domain name is a key part of selling.

But, having auction options for a domain name is a key part of selling.

You could have both: (a) auctions (b) the system I am proposing, with the seller choosing which.

Running auctions for a large number of domains is not viable.