[prepend]

Where is this money going? How are these prices set? I looked up a four letter .com I have and it’s $2400. Why?

Other domains aren’t available yet.

NFTs for names is a really good idea but it seems like the novelty is in getting acceptance and trust. Not sure why a random org should get really substantial fees for names. For ICANN we’re forced to. But for a good blockchain solution the prices should be equitable.

I understand that reselling goes to the owner, but this seems like a cash grab.

That and many domains like common first names aren’t available yet.

[imiric]

I agree that the prices seem arbitrary and high, but since there's no central authority competition could drive the prices down. Eventually I think we'll get to a Let's Encrypt level of service and all of this will be free, as I don't see a technical reason anyone should pay more than the transaction costs.

The high cost does prevent abuse though, as squatting would be a bigger nuisance than it is with traditional DNS if registration were cheap/free.

[mrnobody_67]

There are only so many viable combinations of 4-letter domain names... $2400 seems pretty fair compared to what .com's of the same length are going for (50K-$1m+ for random 4 letter combinations)

[prepend]

Fair compared to what? Why should the price for one be greater than another? The price of generating an NFT is the same no matter how many combinations.

As a user, I would not want willingly join in a new name system that benefits an arbitrary company so much. ICANN forces use of domain registrars so I have no choice. A future system should be better, I think.