Thehindubusinessline.com, just published a story entitled “How To Make Millions Trading Domains.
The story features Domain Investor Prakhar Bindal which must have come out of the recent domain conferences held in India.
“”It is not just bullion and shares that can be traded to make millions. Now, trading Internet domain names is becoming big business.
“Take the example of Prakhar Bindal, who founded a company called Axsiom to act as an exchange for trading domain names. \\
“Bindal bought a domain name called legalapp.com for $69 and then sold it for $100,000.
He bought obituaries.in for only $2 and sold it for $1,200.
Similarly, hashish.com fetched $65,000 after he bought it for just $8,000.
“Trading domain names is already big in the US and Europe. In India not many people are aware of the potential. We are organising seminars and awareness campaigns to encourage youngsters to invest,” said Bindal, who is now looking to start a new service where even retail users can start buying and selling domain names.
“Bindal is also in discussions with the Bombay Stock Exchange to create a proper exchange for such domain names.
“It might take up to two years, but we are optimistic (that) it will happen. It is not only a question of the BSE, but rounds of clearances by the Government, like SEBI approval and many other regulatory reasons,” he said.
Bindal expects his revenue to jump to $10 million and $15 million in next two years. The optimism rises from the recent decision by the Internet Corporation for Assigned Names and Numbers (ICANN) to open up domain name registration beyond the .org and .com. to allow generic names like .hotel and .shiksha.”
Adam Strong says
850 names and expects 10-15 mil revenue?
LegalApp.com is in the process of being transferred too I guess?
EntourageTheMovie.com ?
AbdulBasit.com says
When did LegalApp.com got sold because I still see it’s under the ownership of Axsiom (operated by Prakhar Bindal). Might be in the process of transferring to the new owner?
Richard S says
OK, these guys have been spamming me for years, worst kind of domainer there is, they are going to convince 10000 other indian domainers to start spamming crap domains as well.
legalapp $100K maybe rupees such BS
Fake WHOIS, godaddy needs to shut them down, if they do not restrain from harvesting whois for spamming purposes.
cmac says
yes folks, step right up, its just that easy! but first let me sell you the info you need to get rich.