The domain auction ends with a bid worth $750,000.
This afternoon I received a few emails from people participating in the Handycon 2022 live domain auction. A bidder named “whale” just won an auction for .s Handshake domain for 4.7 million of HNS tokens. At the current price of just under $0.16, that’s around $750,000.
This is the highest known price ever paid for a handshake domain, assuming the deal goes through.
The top-level domain was originally purchased for around 63,000 HNS at an auction in November 2020.
Handshake domains don’t work like normal domains. They are based on blockchain technology, and for anyone to visit a site built on a site, people need to use a special browser or plugin. Blockchain-based domains are becoming somewhat popular for crypto wallet addresses, but I don’t know of any websites built on it that have become mainstream. They face difficult challenges.
What’s special about Handshake is that you can buy the top-level domain – in this case .s – and then sell second-level domains below that.
A few domain registrars offer handshake second-level domains, including Namecheap.
I am always cautious when a transaction as large as this occurs. We’ll see what happens in the weeks to come.