A while ago when EOS was first launched we learned that they wanted to avoid cyber squatting – which is fine. So they decided that all accounts had to have 12 letters in them. Of course, everyone started creating creative 12 letter accounts. I personally created eosmastering which I thought sounded cool, as well as a couple more.

We also learned that they would run auctions on suffixes like .eos or .com and that the highest bidder – often the BP’s themselves or some other massive investors in EOS – would be the only ones able to create accounts on that suffix. So if you you own .eos you can create eos.eos or project.eos. These suffixes of course sold for a lot, and not something any average investor could afford. But we got our chance with the 12 letter accounts.

I asked around on Telegram and Reddit if someone was interested in a market like this, and in creating one. I came across a developer called Nico Wehmöller https://github.com/wehmoen who said he was working on something called eosconnect. If you click his profile I think you can see the source code for this. He also then created https://eos-account-market.com/# where you can log in with eosconnect and put your account(s) on the market.

I have personally done that with a few accounts, but PLEASE be careful. I have checked him out and asked around if he is legit and he is. He was working as a dev for Utopian.io and is now currently doing some account creation service on Telegram. But I would not put out an account with any amount of EOS in it for sale. So make sure the account you put out there is “worthless” in terms of EOS in it, as possible.

Hopefully more markets will emerge for buying and selling accounts using scatter.

What are your thoughts about this? Is there a market for “premium” EOS accounts?

Check out my other articles

https://trybe.one/eos-wizards/

https://trybe.one/me-myself-and-eos/

 

 

Disclaimer: eosmastering is not associated or affiliated with EOS or Block.one in any way. It is a private informational blog run by an EOS investor and is NOT financial advice. 

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Responses

  1. Rich Reeve

    Absolutely, there will definitely be a market for account names in the very near future. EOS is promoted as online real estate so as the eco-system gets larger and more people adopt, account names will become a valuable asset in their own right.

    Thanks for your article. Not enough people are talking about account names and I honestly think it’s going to be a huge marketplace in the future, as well as an aftermarket.

    When I first heard about the Premium name auction I was really annoyed by the way these premium names were being offered. The auction set up where only one premium name per day is sold that has the highest bid out of all the auctions meant that only whales and the rich had the opportunity to own a premium name. The reason why I was annoyed was because, if the auction was scrapped and these premium names were offered on a first-come-first-served basis, it would mean that ALL EOS holders would have had an opportunity to own their very own EOS product which they could sell to the public. Like you mentioned above, if someone bought the premium name ‘eos’ it would mean they could sell 1000’s of EOS accounts with .eos at the end. It would become a unique product and I believe it would have encouraged the wider community to be pro-active at promoting EOS.

    However, I have since changed my mind on this because I see the benefit of having a proper service provider of account names, rather than an entire community trying to sell names.

    ‘starteosiobp’ has spent s fortune buying these premium names so I imagine they will provide a proper service to buy these shorter account names in the future. I just hope they don’t create the accounts and then sell them. It would be a great opportunity for all of us if they allow us to create our own accounts on a first-come-first-serve basis. I doubt they will do this but you never know.

    About a month ago, during a Monday morning live stream, Dan Larimer did mention premium account names. He said he is working on offering shorter account names that are only 7 characters long which will be sold in a marketplace. I’m not sure if these will be pre-selected account names or if people will be able to register their own. We will have to wait and see.

    In regards to CyberSquatting names, I don’t see anything wrong with someone buying/registering an account name to hold or sell as this is what creates value when good names become scarce. Obviously, it’s wrong to register a copyright or a brand name that doesn’t belong to you in the hope of exploiting the copyright/brand owner. This definitely shouldn’t be allowed but if it happens, it should be pretty easy to resolve if we warn users they could lose the account name if they steal someone’s intellectual property.

    I think this will become an issue because when the current premium name auction went live, a lot of people were placing bids for account names like: ‘Apple’, ‘Microsoft’, ‘Google’ etc. It baffles me why people do things like that because they wouldn’t stand a chance of keeping the account name if any of them brands took legal action against you. Some people just like bringing trouble into their world. HaHa.

    Personally, I think the most valuable account names will be someone’s name followed by .eos. for example: sally.eos or billy.eos These names will get taken very quickly. I’d love to own the account name richard.eos or even rich.eos but I doubt I will be able to afford them when they go on sale. Thankfully, my full name is 12 characters long so I did manage to register richardreeve. lol

    I also think that 12 character dictionary words could become valuable just like the current internets domain name system. Dictionary word .com’s of any size are very valuable. If you have a six-letter dictionary word .com, you will have no problem selling it for a couple thousand dollars. I know the EOS blockchain can’t really be compared to the internet but I think what becomes valuable in terms of premium account names will be similar.

    As we’re on the topic of EOS account names, I do have 4 accounts that I am accepting offers for. I honestly believe that each of these account names will go up in value over time. I’m accepting reasonable offers for them individually or all 4 of them as a job lot.

    My account names for sale:
    >> fudfudfudfud
    >> demographics
    >> photographed
    >> dropshipping

    WOW, didn’t realise I had written so much. I’ll leave it there. HaHa

    (3)
    1. EOSmastering Post author

      Hi! Congratulations, I don’t think they pay a lot yet..Because there isn’t quite a good enough marketplace. But once there is a good quality exchange/marketplace for it using Scatter I think it will be quite interesting.

      (0)
    2. Littleboy

      No, it doesn’t. I wouldn’t use namevault.co for security reasons. I would rather make my own accounts via the account creator smart contract or using my own account. You can get lower price than namevault.co using that method.

      (0)
  2. Cryptomagnet

    I am trying to research about the concept of the domain name business with the blockchain technology, I can see that everything is set for the whole thing to start working in EOS blockchain because I know it has started working for Ethereum blockchain.

    (0)
  3. Jojo888

    I think, there will be a huge market for accountnames. I already registered some…but i will hodl them like my token, cause i believe that the value will increase in the next years. So now you can´t earn much for them i think.

    (0)