✖️ 9 Figure Domain

This week I discuss a 9 figure media acquisition, how much Elon’s X.com domain is worth, and a lazy web3 loyalty program

Richard Patey
July 26, 2023 • Estimated Reading Time: 8 minutes

Together with

Hey there 👋,

In this week’s newsletter, I discuss:

Insights from a 9 figure media acquisition
How much Elon’s X.com domain is worth
A lazy web3 loyalty program

Cheers!

Richard Patey - @richardpatey

MEDIA

Over the last week my former Acquire The Web newsletter, which I sold to The Wisdom Group, is now attached to the newsletter marketplace Duuce (now at acquire.duuce.com), demonstrating the continuing convergence between websites, newsletters and other media assets:

🆕 Deal Flow (July 24): 9 Media Listings

9 media listings across the major marketplaces to start your week

acquire.duuce.com/p/dealflow-7-24-23

This can also be seen on another marketplace for media assets MediaAcquire which currently has a 100K+ sub crypto newsletter for sale for 7 figures.

You don’t see too many 9 figure media deals in this space for single media properties, but that is supposedly happening right now with leading crypto website Coindesk being sold for $125M to an investor group. (For context, Future PLC acquired a portfolio of brands with Dennis Publishing for $400M back in 2021).

Coindesk gets 7.4M visits a month according to SimilarWeb, only just behind CoinTelegraph:

Coindesk also comes with 9 newsletters:

Jacob Donnelly from A Media Operator writes that the valuation is very high, at least at this point in the crypto cycle, where it only did $50M in revenue last year and may be unprofitable:

❝

…This is also the unfortunate reality of CoinDesk being for sale at the absolute bottom of the crypto markets. Crypto media is a monster to operate in. You go through such intense cycles that track the price of bitcoin. As the price rises, marketing budgets come rushing back. If the company could hold out for another year or two, $125 million would likely be reasonable.

Jacob Donnelly

I’m personally looking forward to crypto marketing budgets coming back!

DOMAINS

The Escrow.com Master of Domains 2023 winner Andrew Rosener posted that he was the broker who got the X.com domain for Elon Musk, back from Paypal in 2017:

I'm the guy that acquired X.com for @elonmusk.
The single most valuable & most important domain name that exists. The single most valuable plot of internet real estate to ever exist.
In making this deal, I learned a few things. Time for a thread...
— Andrew Rosener (@andrewrosener)
3:28 PM • Jul 24, 2023

And in a comment, he stated how he thought the domain is worth at least $100M today:

@JeremyCom@loganflatt@elonmusk In my opinion yes. I actually think it's worth MUCH more than that. But I think the market would likely bare around $100 Million if I had to guess. (DOMAIN ONLY IN A VACUUM).
— Andrew Rosener (@andrewrosener)
5:20 PM • Jul 24, 2023

And now the X games have begun with the recent sale of squarex.com at GoDaddy:

SquareX .com SOLD for $12,000 at GoDaddy - Let the X sales begin.
— Latest DN Sales (@LatestDNSales)
11:52 PM • Jul 25, 2023

NFTS

Volume in the NFT market is so low right now, and floor prices are continuing to drop (BAYC almost sub 30ETH, mutants potentially round tripping to 4.2ETH where I first bought back in August 2021, now at 5.6ETH):

But one OG NFT project has had its floor double over the last week:

The Lazy Lions rolled out an awesome new community rewards platform, powered by Kazm, that made me feel the need to acquire an asset from their sub-collection to max out my points:

The most impressive NFT community reward system I've seen, congrats @LazyLionsNFT
— patey.eth (@RichardPatey)
5:42 PM • Jul 23, 2023

Due to my previous interactions with the community, I have earned enough points to get the first tier as a ‘Cub Cadet’ and received a soulbound token as a badge:

My Lazy Lion assets are accruing new points daily, and the loyalty program is designed to drive engagement through quests you can complete for additional points:

Other crypto brands are using this Kazm platform, one being Web3 Academy who has an NFT as part of its premium newsletter subscription which unlocks exclusive web3 perks and benefits.

CLASSIFIEDS

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beehiiv was founded by some of the earliest employees of the Morning Brew. You get built-in referral functionality, customization, and analytics where you can see the results of paid acquisition. Check them out*

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only.

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