Investors, banks, and their customers have gone digital. 90% of loan and mortgage consumers begin their journey online. 81% of them have no specific brand in mind, but once converted, each consumer spends over $28,000. On Dec. 22, Valencia’s, a fully digital auction house, will auction off .finance and .financial domains. Each domain is combined with the most recognizable and influential financial cities and terms in the world, creating a tremendous digital opportunity for the finance industry.
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“What if you could control the narrative, branding, and personalized financial products and experiences of some of the most financially influential cities and sectors? The value of these domains are so remarkable it’s almost immeasurable,” said Ryan Etheridge, Director of Auctions at Valencia’s. That’s a strong but fair point. NFT’s are shattering sales records, crypto has reached new heights, meme stocks can swing markets, and the takeaway is simple: digital is hot and only getting hotter. Only 25% of investors refuse to close a deal online, however, over 50% of these offline investors start their journey digitally. Additionally, 86% of all investors spend over an hour conducting vigorous online research. This shift in consumer behavior has caused traditional banks to lose their footing. But these changes represent some of the most valuable opportunities.
Ryan continued, “Finances are a fact of every human being’s life. That’s what the .finance and .financial domains are for, and it’s the most overlooked treasure in digital financial marketing. Suppose I’m looking for l**** or investments specific to Los Angeles. In that case, I’d prefer to gather information from losangeles.finance versus a general bank website. 81% of other financial product shoppers agree and that percentage is rapidly growing.”
It’s not just the finance world demanding authenticity, specificity, and digitalization; it has also taken over the art market. You could copy, paste, or screenshot Beeple’s artwork to your computer. However, the reason his works sold for almost $100 million through Christie’s is not just his immense talent, but a philosophical shift by consumers into the digital world.
As for the finance market auction, Ryan said he chooses quality over quantity, “Something like l****.finance is particular yet broad enough to reach the global lending market, which is over ten trillion in value. We believe it’s the most valuable non-branded consumer-based domain in the world. Of course, it benefits us to go to auction but we will consider pre-auction offers that are aggressive and swift. We care about quality individuals and companies acquiring these sensitive and competitive domains. ”
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