Publicly-listed Banxa has announced the sale of AUD $3 million worth of crypto-related domain names to Independent Reserve (an Australian crypto exchange). 1 $AUD is worth approximately USD $0.67 at the time of this post.
While the total value of the deal is approximately USD $2 million, we’re not told the value of each domain name in the deal, thus it’s unlikely that sites like DNJournal can “chart” the transaction. It wasn’t an all-cash deal, either.
Banxa will receive AUD$2.25 million in cash, plus AUD $750,000 worth of equity in Independent Reserve, selling off their coinloft.com.au, buyabitcoin.com.au, and bitcoin.com.au domain names. These appear to have been developed websites, so might not be considered “pure” domain name sales (although the new owners might not have acquired all of them for their website value, particularly for the “bitcoin.com.au” domain).
The highest reported .com.au domain name transaction was the AUD $400,000 (USD $279,435 at the time) deal in 2019 for money.com.au, according to DNJournal and NameBio.
Banxa also intends to sell other Bitcoin-related domains in the future, including:
Bitcoin.co.uk (UK), Bitcoin.ca (Canada), Bitcoin.co.in (India), Bitcoin.eu (Europe), Bitcoin.ie (Ireland), Bitcoins.mx (Mexico) & Bitcoin.ke (Kenya).
Given the high demand for crypto-related domain, those sales may set new records for those TLDs.
With a market cap of approximately CAD $34 million, these transactions would likely be “material” to Banxa, and thus are likely to be reported in the future.
Disclosure: I have no position in Banxa stock, or any crypto for that matter.