The Booth brothers, Andy Booth and James Booth, have done incredibly well selling domain names. They are among the most successful domain investors I have met and know. They are high risk and high reward investors, and this extends beyond the domain name investing business.
Andy and James somewhat famously acquired a Bored Ape Yacht Club (BAYC) NFT for $1.3 million worth of ETH cryptocurrency. There was a great deal of discussion when I wrote about their purchase.
Earlier today, Andy and James sold their ape NFT for 740 ETH. The sale was reported by a Twitter account that tracks the sale of BAYC ape NFTs:
Bored Ape #3749 was purchased for 740.0 ETH
— boredapebot (@boredapebot) September 6, 2021
At today’s exchange rate, that is more than $2.9 million USD worth of ETH. That’s $1.6 million in profit before considering the OpenSea commission fees and ETH “gas” costs. I was told the profit is approximately $1.5 million USD.
Beyond following domain industry colleagues on Twitter and seeing their NFT sales activity, I’m on the outside of the NFT space. The risk reward dynamics are up my alley but cryptocurrency remains something I observe rather than something in which I participate. There’s definitely some FOMO but I also don’t want to change my focus from domain names.
Regardless of what you think about the NFT space right now, this is an incredible flip in less than a month.