Happy Labor Day. In anticipation of the Epik DevCon Live Auction on 9/16 and the Ruilverkaveling SwapFest on 9/17, EpikBucks deals are getting done at a steady pace. Here are a couple of deals from earlier today that illustrate the EpikBucks model for creating industry liquidity.
A Portfolio acquired for $10,000 EpikBucks
Konstantin Kostov completed a sweetheart deal with Epik a couple weeks back and is going big-time on Epik. Earlier today, Konstantin and Epik completed a purchase deal. For $10,000 in EpikBucks, we picked up these development-grade domains:
So now Epik owns these and someone else can build on them — taking them out of the parking lot, if you will. In the meantime, Epik will schedule to build all of them for its own account. Win-win.
SwapFest.com for $3,500 EpikBucks
A second transaction today involves the 1999 registration of SwapFest.com. Michael Todaro has renewed this name since 1999. A narrow trademark was filed in 2005 in the automotive category — 6 years after SwapFest.com was used in interstate commerce. The background here is that “Todaro” noted with interest that Epik is getting into the Domain Swap business, and scheduled a swap event around it. He has long had plans to build the domain but never got around to it. He thought Epik could use it. I agreed. We bought it for $3,500 in EpikBucks as a strategic purchase. The $3500 is enough to build at least 14 portals and replaces a name that was just costing renewal fees. Win-win.
A word on EpikBucks
We are excited to see adoption of EpikBucks as an industry currency. The upcoming launch of the Epik Admin Portal will also enable users to access updated accounting of their EpikBucks balance and transaction history. Also note that the EpikBucks are transferable, do not expire, and can be used to buy domains, buy services or bid at an Epik-branded auction. Although formal trading market for EpikBucks does not currently exist, we certainly will encourage those who have them and need cash to trade with those who want EpikBucks for an upcoming transaction. I have little doubt that an after-market will emerge soon on a domain blog near you. And, for the record, we are fine with that.