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Domains and Non-Fungible Asset Reference Center

DFIN Finance

Non-Fungible Domain Assets, NFTs, Blockchain
and Crypto Currency

DFIN Prefers Domain Names as Our Favorite Non Fungible Asset
Like Famous Works of Art, Great Domain Names are Rare

A Good 4 Minute Video Describing Hockey Stick
Sales Boost From a New Domain

First Time Sold In 25 Years  

Non-Fungible Digital Assets For Sale
Premium Domains and Two Pre-packaged
Marketplaces For Sale or
Bill Gates

As an early technology adopter, I have been active participant in Web 1.0, Web 2.0 and Now Web 3.0.  I pioneered Internet banking in 1994 and was an early developer of Internet commerce in 1997. This gives me a unique perspective on the new technology like Blockchain and products like Crypto Currency and NFTs.

My analysis to date is clear. I like the new technology and I like the potential but I am disappointed in most of products offered. Their is some very creative design and technology that needs a better focus. The products will get better and the Metaverse will change the world.

The one non-fungible asset that I believe has been a missed opportunity for many is domain names.  Everyone  in business knows the value of a brand, the importance of a store location, and the need for an online presence. Businesses will learn to take advantage of and use many domain names to find and enter a web site. 

In the 1970s no one would have imagined owning the global rights to an exact match name or phrase that provides direct access to their products and defines their business. This is a close reletive to a Monopoly. An example is or 

The most over hyped new investment or speculation, depending on your view are Bitcoin, followed by crypto currency in general and now the speculative componants of NFTs for art. Bitcoin is a good speculation that has great value for people in other countries looking to move money out and is a great ransom tool for hackers. NFTs have a great future but are experiencing speculation and the pain of a new product. I like digital currency but stable value currency is a requirement of mine to replace existing currency.

In 2021, strategists began to understand the benefit of many focused domain access points for online sales. This exact match domain strategy works particularly well for a start-up, or existing business in support of the brand.  In some cases the names might be purchased to defend against competitors buying the names.

As an Internet Banking Pioneer in 1994, I have focused on the global digital economy since the early 90s. In addition to banking and Fintech, I have focused on online Pet and Car sales. The auto industry is ranked in the top 5 at more than $2 Trillion and pet sales are expected to be $110 billion in 2021.   Online sales are exploding and auto manufacturers are moving to an agency business model and online sales.

I have focused on the acquisition of generic domain names since the mid 90s. People will  eventually join me in seeing the exceptional value of generic and exact match domain names as non-fungible digital real estate and a powerful digital additional location for their business.

Domain names are the new digital real estate. In the digital economy, real estate is not just physical and geographic. real estate has evolved into three classes so far.

1- Traditional physical real estate – Long history and mechanics are known and in place

2- Digital real estate in the form of domain names, especially .com for now. Domain names create the path to the real and Metaverse. – At least 25 years of history. Mechanics are sound. Now maximizing use and value

3- Virtual real estate powers the Metaverse. – This is the wild west and ground floor opportunity with many open issues. As Facebook Meta builds out, adoption and participation will expand. Real estate professionals would add value to Metaverse communities.

I have accumulated many premium exact match domain names for pets and autos. Many of the names are commonly used, easy to remember and hard to forget.  Many people sell domain names, I may be the only seller of a generic multi domain marketplace.  I have defined this as a "Domain Farm". A digital marketplace like I have built can't be done from scratch or at a low price any longer. The prime .com domains that a marketplace must be built around are gone. IE:

Please email The Digital Financier
GLE@DFIN.COM with questions

Non-Fungible Domains and NFTs Overview
Following is a status report on crypto, non-fungible assets, (domains and NFTs)  with
comments on the need, plus a few documented transactions.

Now that Blockchain scalability has been achieved, everything needed is in place to to take banking and digital finance to the future. Blockchain and cryptography will be combined to create the foundation technology that is needed. I believe that this technology will lead to a US Treasury sponsored stable value digital currency sooner than most people expect.

Blockchain as used to date has not impressed me with the business models. Bitcoin may be the oldest modern example of Blockchain.This great technology has been used to create a speculative bubble. I call Bitcoin "unstable value currency,"  Bitcoin and similar experimental activity is to be expected when a life changing new direction in business is being launched and tested.  Similar excesses, misdirection and eventual failures happened with other revolutionary innovations like  trains, autos and the Internet before they stabilized. 

The digital economy is dependent on Internet technology and modern delivery services. For the first time in history, individuals can buy and sell globally and directly with manufacturers and individuals. Low cost digital payments will be developed to facilitate the sales. Only government regulation will stop this global commerce momentum. The global market gives companies a comparative advantage to sell goods and services at a lower price than local competitors. The global reach requires a stable value currency, trust and convertibility. Trust is built on security and security will sometimes include communications useing non-fungible domain names.

Blockchain History

Unmatched FinTech and Digital Experience

As an Internet Banking Pioneer ( Gary Lewis Evans ), I formed the original Bank of Internet in 1994 when I was President of La Jolla Bank 1994 BofI. I own and my focus since the 90s has been digital, global, and non-fungible. I started acquiring non-fungible assets in the form of domains in the mid 90s. was purchased and operating since 1996.

Why Do I Prefer Non-Fungible Domain Names Over NFTs and Un-Stable Crypto Currency Like Bitcoin at This Time?

After holding my domains for as long as a quarter of a century, the boost from the COVID pandemic brought my domains to the forefront of the digital economy.  Even Microsoft purchased in early 2021. 

Premium domain names bring authority, credibility, legitimacy, and in many cases are easy to remember and hard to forget. They will generate leads, enhance the brand and like real estate and classic art, appreciate in value as they protect against inflation. 

The name Titan .com sold in Mid 2021 as an upgrade from Titanvest .com.  It was purchased from an insurance company so they probably got a very good price.

As described  "As a consumer-facing company in the financial industry, switching from Titan vest. com to Titan. com makes a lot of sense for Titan. Trust is a crucial part of finance, and as a service that is only accessible online, Titan’s domain name represents the first interaction that many customers have with the company. Owning allows Titan to immediately present a sense of trust and longevity to its potential clients."

The right domain (s) will lead to increased sales, reduce the cost of customer acquisition and increase profitability. Domain names are digital real estate that have a global footprint. Generic domain names are the greatest way to accelerate traffic and sales for a web site. 

Notice that the graphic below doesn't include domains. Why? Domains are the most significant non-fungible digital asset because they can generate income.  The market will recognize the value soon.

Non Fungible Chart

Domain names are the first step needed when establishing an online business or for targeting online sales.  Owning the global generic name for a product or service is a rare benefit. The non-fungibility of a domain name is a great starting point for meeting trust and security needs. Many generic names are common names that are used routinely in daily language.

I do not own crypto currency but if I lived in a country other than the USA I would. As a long-time collector that still owns my 1950s baseball cards, a collection of toy cars, a 57 Chevy and five John Lennon serigraphs, I have not seen an NFT that piqued my interest. I am not a good speculator or trader and that kept me out of Bitcoin.  Once the federal reserve issues digital currency and regulations are put in place, the market will correct.

Having held some domain names for over 25 years the time is right for me to sell a few. I will sell or lease the domain or just the email rights. 

Any domain name can be branded but a unique generic domain name, or marketplace platform like we are selling is very powerful. What auto dealer wouldn't want to own the global brand

The final and very significant benefit for domain name investing before use is the extremely low carry cost. Unlike raw land that has insurance, security costs and taxes, the only required annual cost for a domain is the registration fee of less than $25 for a .com at this time. A person can hold millions in domains and their is no personal or real estate Taxes.

Domain Leasing

The Need For Blockchain Fungibility, Non-Fungibility Plus DeFi


We agree with PA consulting and their assessment of non-fungibility and Blockchain.  

the characteristic of non-fungibility that’s key to enabling some of the most revolutionary and disruptive applications of Blockchain. Non-fungible tokens could be used in voting and elections to eliminate fraud and transform democracy. They can help organizations better know their customers through improved loyalty programs.” “For many businesses, it will be blockchain’s ability to process non-fungible tokens that will spur innovation rather than its use as a cryptocurrency.”

From the perspective of merchant payments and consumer banking, banks have not kept up with market needs. In 1994 when I pioneered Internet banking as President of La Jolla Bank, Amazon launched as an online bookstore.  At that time no one would have predicted that retail would outperform banking in the digital economy. Everyone was wrong.

Bankers are smart enough to have advanced aggressively into the digital economy, but they have not. The only logical reason for banking’s failure is regulation. Protecting high fees and using regulators to block competition is a close second.

Are banks ready to compete and move out of regulatory protection?

“Steve Cocheo, Executive Editor at The Financial Brand states that in the words of JPMorgan Chase Chairman and CEO Jamie Dimon the traditional banking industry faces a continuing significant challenge as a combination of fintech, big tech and shadow banking players continue to build market share under favorable regulatory conditions Dimon says FinTechs, big techs and shadow banks aren't just nibbling at the fringes of the financial industry. The head of the largest U.S. bank says some are now gobbling up significant chunks of market share, threatening to render traditional institutions irrelevant.”

The FinTech and banking opportunity could not be greater, and banks will benefit by working with FinTechs because they think outside of the regulatory constraints. Technology and cryptography are easy, the hard part is designing how to use the technology for business (The Model). The FinTech risk is that the new FinTech competitors get sloppy or embarrass the bank regulators, politicians or the CFPB. Banks can help reduce partner FinTechs risk.

Distributed finance  (DeFi) is current state of art in banking and finance.  Crypto currency and in particular Ethereum is generally the focus for DeFi. Developers are true believers, focused on crypto currency and are experiencing the typical theft and losses of a new industry. I see the opportunity in stable value currency, Blockchain and centralized finance (CeFi).

The newest digital focus in digital assets is Non-Fungible Tokens (NFT).  NFTs are built on Blockchain and includes cryptography features as well. The excitement in NFTs will lead to a greater appreciation for all non-fungible digital assets.

Non-Fungible Assets

Non-Fungible assets are not new, there is only one Mona Lisa and one North East corner of 57th and 5th avenue in NY.  The value of the Mona Lisa is collector based; the value of commercial real estate is a function of the earning that can be generated from the location. There are fungible assets that have value as well. Gold in the physical world and Bitcoin in the digital world are two examples. Both Gold and Bitcoins have limited supply and are priced based upon supply and demand plus speculation. The speculation can become dramatic.

Non-Art Assets with limited or no income generation potential often relies on a “Bigger Fool” that will pay more to purchase the asset in the future. A unique non-fungible income producing asset will in most cases have the greatest value. What would the domain be worth? sold for $11,000,000, sold for $30,000,000 and in March 2021, sold for $2,000,000.

What if you were given the choice to magically own the Mona Lisa or the Domain name (Not the business)?  You would magically own one or the other effective tomorrow.  You could hang the Mona Lisa on the wall or sell it.  The Amazon domain could be sold or you could create a lease (Digitlord) with Amazon. I would take over the Mona Lisa because it is a Non-Fungible branded domain that is income producing.


Crypto currency and NFTs are real. Current speculation will impact credibility and adoption but in the long run the value will be assured. Historically we have had fungible assets that were thought to be unique or assets that had easy access to a greater supply that were mis-priced. One example would be the Dutch Tulipmania.

“In 1636, according to an 1841 account by Scottish author Charles MacKay, the entirety of Dutch society went crazy over exotic tulips. As Mackay wrote in his wildly popular, Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, as prices rose, people got swept up in a speculative fever, spending a year’s salary on rare bulbs in hopes of reselling them for a profit.”

The following graph illustrates a rapid rise in the value of tulips of nearly 200x in 3 months and then the collapse over the following 3 months. Tulip

Two Examples of Non-fungible Digital Assets

The Beeple $69,000,000 Sale of an NFT

Non Fungible Token ( Digital Art )

Beeple NFTI admit that I do not understand the economics of  this transaction. "Until October 2020, the most Mike Winkelmann — the digital artist known as Beeple — had ever sold a print for $100.""The record-smashing NFT sale comes after months of increasingly valuable auctions. In October, Winkelmann sold his first series of NFTs, with a pair going for $66,666.66 each. In December, he sold a series of works for $3.5 million total. And last month, one of the NFTs that originally sold for $66,666.66 was resold for $6.6 million."
"A Beeple NFT of his work sold for $69 million at Christie’s. The sale positions him “among the top three most valuable living artists,” according to the auction house." Start-Up Domain Purchase For


Will be Used to Support NFTs

As a start-up that paid $30,000,000 for the domain name ( I expect the company to be the leader in NFTs and social networking by focusing on voice. Unlike my valuation concern with the NFT above, I understand the purchase and valuation. Voice wants to be the go to social network app by focusing on Voice. is a one of a kind generic domain name,  Easy to remember and hard to forget. I read that the seller didn't want to sell and bidding started at $150,000.As reported by Voice "One year ago, Voice embarked on an ambitious mission: to build social as it should be.""This summer, Voice will upgrade, becoming a social platform where users can create digital arts across all formats — visual, written, audio and video — enabling them to be easily bought and sold as unique digital artifacts (NFTs).""At the heart of this move is our core strength: tokenization. Instead of putting tokens next to creative content, the content itself will be the token. We are working hard to enable everyone who engages (likes, comments, etc.) to receive a royalty from its sale, as well. This is social as it should be, where the value of creative content is shared with those who support it.""Starting in the summer 2021, Voice will deliver this social network NFT vision and combine it with the unique qualities of the EOSIO Blockchain.""Voice NFTs will be:Free to mint (no gas fees)Clean (low emissions)Authentic (identity verified) "

How Non-Fungibility Impact the NFT Digital
Collector Market

As an example Let us assume that the Pieta by Michelangelo is valued at $500,000,000. If I took a selfie with the Pieta and it was turned into an NFT, it may sell for $5 if it is a real nice photo.  It is non-fungible, but it is not unique or of value to a collector. However, if the Pope had a photo taken by a famous photographer who then turned the photo into an NFT, the uniqueness might result in a sale for $1,000,000+.  Then in another 10 years after many sales it may re-sell for $750,000,000. The documented, one of a kind NFT photo is a unique collector item.

BANKRATE  11-23-2021 NFTs, Explained: What are these hot digital collectibles bringing in millions? An NFT is a kind of digital asset that is unique – that is, non-fungible. An NFT can represent a number of digital properties, including artwork, collectibles, video snippets, an item from a video game or even a music album, among others. Music group Kings of Leon issued its recent album via an NFT that entitles users to download the album and related artwork.


05-26-2021 Domain Broker is reselling that last sold in 2006 for $7,500,000      

DFIN Sponsored: Domain Sales, NFT and Metaverse News

A Digitlord is like a landlord: but for Digital Assets not Real Estate, see sample 2007 agreement : SEE  SEC Recording      

A very good explanation of a Crypto NFT crypto currency-explained-what-is-an-NFT/         

An NFT is a non-fungible Token as described by Wikipedia : A non-fungible token is a unit of data stored on a digital ledger, called a Blockchain, that certifies a digital asset to be unique and therefore not interchangeable. NFTs can be used to represent items such as photos, videos, audio and other types of digital files. Wikipedia       

The Global Law Firm Gibson Dunn define an NFT for clients        

Creating and selling an NFT       

NFTs - non-fungible tokens - are fueling a frenzy amoung artests and investors looking to cash in on the market that has ballooned by as much as $1.5 Billion so far this year. how-valuable-digital-collectibles        

IBM is turning patents into NFTs beeple-but-ibm-is-making-patent-nfts.html        

Fractionalized Non-Fungible Tokens (F-NFTs): fractionalized-non-fungible-tokens-f-nfts-may-present-even-more  

Rally sells fractional interest in assets: Sell With Rally | Rally | Alternative Asset Investment (


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