“Looking to buy a single-family home or apartment building, but not happy with any of the properties available in your local neighborhoods? Maybe it’s time to look online for a virtual mansion, penthouse, department store or amusement park.”
That’s the opening of a blog post published last week by Quicken Loans that explains the investment value of digital real estate, a category that includes domain names.
“You can buy a domain name, hold onto it and hope someone wants it badly enough to pay more for that name,” the blog says. “For instance, you might buy a domain name such as chicagorestaurantcritic.com in the hopes that someone starting his or her own restaurant blog will be willing to pay big bucks for the domain name.”
Quicken suggests other digital assets too like entire websites, mobile apps, and even land in the metaverse, but it mentions domain names 16 times.
“The first step is to identify the types of digital real estate that might interest you. Maybe you don’t want to put a lot of effort into your investment,” it says. “Purchasing domain names and then selling them might be your best investment strategy.”