Hey there 👋,
In this week’s Alts by Flippa newsletter I discuss:
- The clash of alternative web3 TLDs
- Don’t fall for SaaS IndieScammers
- Shopify invests in Klaviyo and the platform problem
- NFT volume stalling, blue chip floors down
Every heading is a discussion channel in the Alts by Flippa discord community – come join over 1600 of us.
Flippa Featured Domains
It’s been a big week in the world of web3 domains.
Last week (post on Substack) I discussed how Impervious had launched it’s Decentralized Registry where you can stake your Handshake TLDs (locking them up forever) so you can sell decentralized SLDs.
They’ve just deployed a new version:
I was considering doing this, but the forever part (which needs to be in place otherwise you can rug your SLD owners) was a bit too much for me, seeing as I spent 50K $HNS ($8K at the time) buying a premium one word .lazy/ TLD (Lazy Domains). I really want to not only recoup this investment, but create a cashflowing asset which is currently only possible by renting SLDs at the Namebase Registry, that can be sold on Namecheap.
I had decided that this was the path for me, but then though Aaron Oxborrow just released a proposal for Handshake Decentralized SLDs:
This has me thinking should I wait for this to become a reality, as it offers awesome benefits to Handshake TLD owners:
- TLD owners get full control of pricing and distribution methods
- TLD owners can benefit from sales by traditional registrars
- TLD owners get recurring SLD fees streamed directly to their wallet
- TLD owners can configure SLD aftermarket royalties using EIP-2981
- TLD owners do not have to lock their TLDs forever, preventing upgrades
However, I feel I need to start selling / marketing my .lazy domain sooner than later, to claim exclusive rights to the name, in case there’s ever a dispute…
Unstoppable Domains (UD) just announced it has reached unicorn status ($1B valuation) due to a $65M series A round.
I’m a fan of UD and own a couple of their .crypto NFT domains. It’s clear they are leading in app integrations / use cases.
So it was a shock to see Andrew Allemann at Domain Name Wire report that a Handshake registrar appears to have shut down in face of a lawsuit from UD.
In the article it states that Gateway.io (where I purchased my patey.c domain – Clay Collins owns the c/ TLD) appears to have shut down as it is unable to pay the legal fees necessary to fight the lawsuit:
Unstoppable Domains sued Gateway.io and its owner, James Stevens, for offering second level .wallet domains under a Handshake top level domain name. Unstoppable offers a competing .wallet address on its own blockchain-based naming system. The company claims that the first company to begin offering second level domains on a blockchain top level domain should have exclusive rights to the name.
As such, I’m likely now going to be spinning up a new company to sign the staking agreement with Namebase, unless a billionaire shark is interested:
The seller has apparently tried this several times, ripping code from existing SaaS tools:
The thread then goes deep on trying to find the identity of the seller.
I first used Klaviyo, the ecommerce marketing automation platform, back in 2016 when I had a Shopify store and did a bit of sales funnel consulting on other people’s stores (including Andrew Youderian‘s back in the day).
But no-one I know has been as early to this space as Kurt Elster, host of the Unofficial Shopify Podcast (which I was on talking about funnels also back in the day) who reports that Shopify has made an investment in Klaviyo:
In doing so, Klaviyo has just become the recommended solution for Shopify’s bigger ‘Plus’ customers. I’d hate to have been a competitor in the ecommerce marketing automation space on hearing this announcement.
If you’re an app dependent on a platform, such as Shopify, you really dread either a competitor being bought and integrated, or Shopify launching core functionality (or withdrawing it) themselves.
Bluechip NFT floors have been dropping significantly since I exited my Moonbird two weeks ago at a 23 ETH floor. And the Opensea site is currently timing out which is never a good sign in bear markets.
Apes are now at 82ETH, Mutants at 16TH and Moonbirds at 18ETH.
And I still feel like ETH hasn’t seen the final bottom – if it drops by 50-80% again, then you may be able to buy a Moonbird at less than mint (here’s hoping).