Thursday, March 14, 2013

The next 100 million dollar Bitcoin business idea!

Last year I decided to start aggressively acquire Bitcoin related domain names. All of them are listed on the this website.
Presently, I now own over 300 domain names. Several of them I consider to be quite premium (ie. generating a lot of type-in traffic). And the interest in them by potential buyers has been tremendous.
Here's my dilemma (and where I believe to be a potentially HUGE business opportunity). Right now there are a few ways to monetize a domain:
  • Affiliate Websites – Think of a good domain name, register it, and then build a website filled with various advertisements for other sites that bear a similarity to your domain name, making money off anyone who clicks on the ads and purchases the advertised products.
  • PPC Websites (Pay-Per-Click) – These are very much like affiliate sites, except the revenue generated comes from PPC advertising systems like Google AdSense and Yahoo Publisher Network.
  • Domain Parking – There are several services, like, where you can “park” your domain. The domain will have a variety of keyword targeted ads, similar to the ppc and affiliate sites mentioned above. You make money off the ads that your parking company puts up. Additionally, you can also list your site for sale at the same time.
  • Domain Purchase and Resale – Register a domain or buy an existing domain with hopes of reselling it to other domainers.
  • Domain Leasing – Rent the domain name out to advertisers or other interested parties.
  • Domain Development – Register a domain name and develop a website for it, with unique content and some sort of business model.
All these monetization strategies are interesting. However, I would love to see someone create a hybrid system that combines BOTH domain leasing and domain development. Domain holders like myself would post domains and potential business ideas. Savvy entrepreneurs/programmers would then browse through the list and decide to make a partnership pitch with the domain holder. There could be several ways to compensate the domain owner, however I think a royalty arrangement (ie. small % of sales) would make the service very appealing. Especially if the business idea only accepted Bitcoin and used an approved bitcoin gateway so that sales were easily verifiable.
Now I'm sure there are a million details to iron out, but I think there is enough here to at least start thinking how this can go from an innovative concept to an extremely profitable business.
If/when someone decided to build this service, I would pledge all my domains right away. Let's start making money together!
I would love to hear your comments and ideas (good or bad).

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