Organizations searching for the ideal domain name may need to pay a premium for rights to their Web address of choice.
Writing for Business Insider, technology commentator Martin Zwilling explained that the vast majority of attractive domain names have already been snapped up.
As a result, organizations will be lucky to get their hands on lucrative online real estate for a nominal fee, he suggested.
Mr. Zwilling commented that memorable domain names can be worth a lot of money to rights holders, particularly as the importance of e-commerce continues to increase.
“If you want to be found and remembered on the web, the perfect domain name can easily be worth several thousand dollars,” he stated.
According to the experts, the median price of a domain name is $5,000, although some bidders have paid several million for the Web addresses they want.
Back in 2009, Insure.com and its associated online assets were sold for a world record sum of $16 million.
“Whether by crafting a great new name or wresting one from a previous owner, every new business needs to master the domain game,” Mr. Zwilling stated.