Launched in 2014, Undeveloped is reinventing domain trading from start to end by making domain trading open, transparent and accessible to all. Open to buyers and sellers alike, Undeveloped supplies simple, quick and secure transactions through their available market.
Today Undeveloped supplies access to over 50 million registered but fresh domains to its market so that anybody can locate and secure the ideal address to get their next project or company.
With over 288 million registered domains everyone has access to these “hidden” domain names. Undeveloped is altering the domain industry by making the buying and selling of domains transparent, simple to use and secure.
Before today, unused domain names were scattered throughout the web, making locating the ideal name both annoying and time-consuming. With Undeveloped's new service, over 50 million unused domains are now searchable and available to buyers.
For domain sellers, Undeveloped provides an easier way to place domains facing a potential audience. Apart from that it just takes a few clicks to begin selling your domain names on Undeveloped as they supply easy-to-use portfolio management and negotiation platform boosting domain name sales.
Co-founder Reza Sardeha explained that he was unhappy with existing marketplaces and wanted to come at domain selling by a fresh perspective.
“From a vendor perspective, we wanted to make domain trading simpler,” he explained. “We wanted a platform which was solely predicated on selling, instead of monetizing. We really didn't see anything out there that would allow you to be a great seller.”
Undeveloped’s Domain Name Registrar Blockchain Technology
Undeveloped announced that they're adopting blockchain technologies and will soon release Undeveloped tokens. 50% of the tokens can only be chosen by user activity like parking your domains with Undeveloped.
Undeveloped aims to take out the middleman (the escrow supplier in this case) so that they automate all domain, manufacturer & IP transfer trades from 1 party to another.
By adopting the blockchain to automate all processes required to facilitate trades (escrow), Undeveloped would like to make (close to) instantaneous transactions the new norm in the marketplace. They also want to present flexible domain usage, an all-in-one marketplace, making the primary market less fragmented.
All Undeveloped users who park their domain names with the company (counted from the end date of this token sale for at least 6 months) will get free Web tokens. These tokens can then be used to buy other domains or purchase additional services via Undeveloped.
The Key Idea Behind Undeveloped
Once Undeveloped started in 2014, the business realized it needed to put much more attention on domain buyers. Thus Undeveloped functioned to make a more transparent market that could make buyers comfortable obtaining domains on the secondary market.
Also, since 70%-80 percent of discussions don't result in an agreement on cost, the company is creating content to educate buyers about the value of domains. Reza said the company also examined why people neglected to submit offers on domains in the first location. Its original landers asked for an offer upfront. This was a major deterrent to buyers.
To get buyers to show up to the marketplace, Undeveloped researched where businesses go when they need a business or product name.
Since a number of these users look for the title they're considering, Undeveloped concentrated on SEO for its available landers. As a result, a quarter of all leads clients get are the result of somebody discovering their “for sale” page through a search engine. The landers also have a title tag noting that the domain name is for sale, instead of parked pages which foster the subject instead.
Undeveloped is also innovating on the escrow side. For some ccTLDs like . Nl, it can instantly transfer domains to its own registrar upon receipt of payment. This enables it to pay out vendors quickly.
While Undeveloped is still considerably smaller than established marketplaces such as Sedo and Afternic, it continues to find ways to differentiate itself. It boasts 21 million names available, but most them aren't directly recorded with the service. The company crawled for unused domain names and then included them in its database.
When a customer asks about one of these domain names, the business reaches out to the owner to engage them. 80 percent of the moment, they can bring the domain owner to the table. Like most of its competitors, Undeveloped charges a 15 percent commission on earnings, such as escrow fees.