- A man has detailed how he recently hit the jackpot after selling a domain name he bought for just 6,000 Naira for over 180 million Naira
- The domain was purchased in 2017, and he claims to have several others he owns for potential customers
- Its transaction reflects Elon Musk’s takeover of the Telsa brand from a young Japanese man for $75,000
It’s a sweet, brave victory for a man who details how he was able to sell a domain he bought for $16 (N6,000) in 2017 for $435,000 (N180.60 million).
In a thread on Twitter, @cryptofelon said he was approached by Come on daddy who said a “multi-billion dollar” exchange was interested in buying the website address for $500.
After receiving persistent messages, he told them that he was only willing to sell the domain for 10 Bitcoin, which was worth $500,000 at the time.
Elon Musk hints at possible plans to charge fees to Twitter users after $44 billion deal, tweeps not happy
Although he didn’t expect a response, GoDaddy eventually responded saying he was willing to pay $200,000.
Explaining what happened next, @cryptofelon explained:
“That’s not what I asked for. I wanted 10 bitcoins, and I was going to get 10 bitcoins. And so, I ignored the offer. I declined $200,000 – for a domain that doesn’t only cost me $16. 12,500x profit. knew my worth.”
He doubled down by insisting he wanted 10 BTC – and was warned that this asking price “will more than likely scare the buyer completely.”
Screenshots of GoDaddy’s email suggest the company tried to lower its resolution – and even declared it major. American domain names often sell for much less, with video.us under the hammer for $75,000…and jobs.us changing hands for $36,000. The representative wrote:
Twitter founder Jack Dorsey pockets over N400bn from Elon Musk acquisition but says he has regrets
“It sounds like you have very high expectations for this particular domain name. The reality is that the buyer’s counter-offer would be a record sale price…I have a feeling this domain name . US would probably be a “nice to have” for the buyer, but I’m sure they can get by without it.”
A high-stakes negotiation
Unfortunately, @cryptofelon’s insistence on being paid 10 BTC was met with radio silence – but a drop in Bitcoin’s value last September may have worked in their favor. A few weeks later, the determined owner of the domain wrote:
“Volatility seems to be in favor of the potential buyer. 10 BTC currently equals $435,000 today. Is $435,000 in cash feasible for your client?”
The negotiation continued, with GoDaddy responding that he might be able to convince the company to go all the way to $350,000 if @cryptofelon shakes hands on that amount.
Former Twitter CEO Jack Dorsey breaks silence after Elon Musk buyout: ‘Take your billions and go’
“All on the line at this point. I took it from $500 to $200,000 guaranteed. If I read the situation correctly, I also had practically $350,000 in my hands as well. Was I reading the situation correctly? Could I see past the psyops? Would I have the price of 10 bitcoins?”
There were a few days of silence as he waited to see if his request for $435,000 would be met – and as the agonizing wait continued, he had to resist the urge to email them again. -mail.
“I wasn’t going to reach out more than the one time I’ve ever had.”
Finally, the email arrived and the buyer agreed that he was ready to pay the full $435,000.
Sharing the screenshot that confirmed the offer was made – along with the funds that sit nicely in that bank account – @cryptofelon said:
Young Nigerian Who Sold NFTs For 5 Months Builds A Beautiful House And Shows It On Video
“From $500 to $200,000 to $350,000, I had now traded a $16 domain for $435,000. I had done it.”
Reaction to domain sale
Damilola Steven wrote:
It’s nice! Haha, this guy is crazy… Most would have accepted the offer at 200 or 350…
Very shrewd negotiator. masterclass at both ends.
@n8Lee also said:
“In fact, I used to work at this exact location for 2 years!!! I have never seen a domain broker transaction process go down…ever! They always told us to directing the customer to the domain buying service… That was so cool!
Nigerian artist to sell his works to Odogwu Bitters
In a related story, Legit.ng reported that a Nigerian artist was approached by Odogwu Bitters, a herbal drinks company owned by Nigerian socialite Obi Cubana for his artwork.
The talented photographer identified as Sanjo Lawal shared his success story on Twitter.
He did not, however, reveal the amount he was offered for the photographs he took with bottles of Odowgwu Bitters.