VirtualWorld.ca
The price of virtual real estate keeps going up!
News came out this past week that the domain name Social.com has been sold for $2.6 million dollars.
This domain name had been put in auction recently with an asking price of $5 million and a starting price of $2.5 million. During the auction the domain received an offer for $2.5 million but no higher, and didn't meet reserve. After the auction closed without selling, the prospective buyer made a further offer of $2.6 million and the domain owner accepted.
The person who owned the domain was the original registrant since 1995. At that time it was free to register a domain name. He only had to wait 16 years and one domain name has made him a millionaire!
Still no word on what Social.com will be used for, but with the popularity of social media and social networking, it will probably be related to something like that.
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