- A man has detailed how he hit the jackpot recently after selling a domain name he bought for just N6000 for over N180m
- The domain was bought in 2017, and he claims he has several others which he is holding for potential clients
- His transaction mirrors Elon Musk's buying off the Telsa brand name from a Japanese young man for $75,000
It is a sweet brave victory for a man who details how he was able to sell a domain he bought for $16(N6,000) in 2017 for $435,000(N180.60 million).
In a thread on Twitter, @cryptofelon said he was approached by GoDaddy, who said a "multibillion-dollar" exchange was interested in buying the website address for $500.
After receiving persistent messages, he told them that he was only prepared to sell the domain for 10 Bitcoin — worth $500,000 at the time.
Woman and her entire family weep as taxi driver returns N400k she forgot in his car, hugs him in cute video
Although he wasn't expecting a reply, GoDaddy eventually responded by saying they were willing to pay $200,000.
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Explaining what happened next, @cryptofelon explained:
"That's not what I asked for. I wanted 10 Bitcoin, and I was going to get 10 Bitcoin. And so, I ignored the offer. I turned down $200,000 — for a domain that only cost me $16. A 12,500x profit. I knew my worth."
He doubled down by insisting that he wanted 10 BTC — and was warned this asking price "will more than likely scare the buyer away completely."
Screenshots of the GoDaddy email suggest the company tried to weaken his resolve — and said even major US domain names often sell for far less, with video.us going under the hammer for $75,000… and jobs.us changing hands for $36,000. The representative wrote:
"It seems that you have very high expectations for this particular domain name. The reality is that the buyer's counteroffer would be a record-setting sales price … I get the sense that this .US domain name would probably be a 'nice to have' for the buyer, but I'm sure they can operate without it."
A High-Stakes Negotiation
Unfortunately, @cryptofelon's insistence on being paid 10 BTC was met with radio silence — but a dip in the value of Bitcoin last September may have worked in their favor. A couple of weeks later, the determined domain owner wrote:
"Volatility seems to be in the prospective buyer's favor. 10 BTC is currently equivalent to $435,000 today. Is $435,000 cash doable for your client?"
The negotiation continued, with GoDaddy replying that it might be able to convince the company to go up to $350,000 if @cryptofelon would shake hands on this amount.
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"Everything on the line at this point. I made it up from $500, to a guaranteed $200,000. If I was reading the situation correctly, I also practically had $350,000 in my hands. Was I reading the situation correctly? Could I see past the psyops? Would I get the 10 Bitcoin prize?"
There were a few days of silence as he waited to see whether his demand for $435,000 would be met — and as the agonizing wait continued, he had to resist the urge to email them again.
"I wasn't going to reach out more than the one time I already had."
Finally — the email came through, and the buyer agreed that they were prepared to pay the full $435,000.
Sharing the screenshot that confirmed the offer was made — as well as the funds sitting prettily in this bank account — @cryptofelon said:
"From starting at $500 to $200,000 to $350,000, I had now traded a $16 domain for $435,000. I had done it."
Reaction to the domain sale
Damilola steven wrote:
"This is beautiful! Haha, this guy is crazy…Most would have taken the offer at 200 or 350…"
"Very shrewd negotiatior. masterclass on both ends."
@n8Lee also said:
"Actually used to work at that exact location for 2 years!!! Never actually seen a domain broker deal process go down.. ever! They always told us to direct the customer to domain buy service.. That was so cool!"
Nigerian artist to sell his works to Odogwu Bitters
In a related story, Legit.ng reported that a Nigerian artist was approached by Odogwu Bitters, a herbal drink company owned by Nigerian socialite, Obi Cubana for his artworks.
The talented photographer identified as Sanjo Lawal shared his success story on Twitter.
He however did not disclose the amount he was offered for the photographs which he snapped with Odowgwu Bitters bottles.