In a bold move, Crypto.com, the cryptocurrency exchange platform, has acquired the domain name AI.com for a staggering $70 million, marking the largest amount ever paid for a domain name. This deal, which was fully completed using cryptocurrency, surpasses the previous record held by CarInsurance.com (sold for $49.7 million) in 2010. In 2018, Crypto.com also paid $12 million for the domain name Crypto.com.
Launching a Personal AI Agent
However, purchasing AI.com isn't just a marketing move for Crypto.com. The company plans to launch a personal AI agent capable of managing emails, messages, apps, and even stock trading. Kris Marszalek, founder of Crypto.com, justifies the large investment by highlighting the long-term potential of AI: "Artificial intelligence will be one of the most impactful technological waves of our lives over the next 10 to 20 years."
Major Investment in Digital Marketing
The timing of this announcement was also part of Crypto.com's strategy. The deal was revealed during Super Bowl Sunday, the most-watched TV event in the United States, providing the company with a massive marketing opportunity. It’s important to note that a 30-second commercial during the Super Bowl costs around $7 million.
From OpenAI to Crypto.com
Interestingly, AI.com was previously owned by OpenAI, which simply used it as a redirect to its main site. While the exact reasons for the sale remain unclear, Crypto.com’s $70 million offer seems to have persuaded OpenAI to part ways with the domain.
Crypto.com’s Bold Marketing Strategies
Crypto.com is no stranger to bold marketing tactics. In 2021, the company paid $700 million to rename the Staples Center in Los Angeles to Crypto.com Arena, a deal that will last until 2041.
New Opportunities for Users
As part of this acquisition, users can now visit AI.com and create a username under the URL ai.com/[username], though they must enter their credit card details to do so.