So-called “domainers” have gobbled up thousands of marijuana-related Web URLs recently with the hopes of turning a profit after legalization.
The New York Times surveyed both individuals and media companies that have flocked to the new space just as California’s landmark Proposition 19 hits the ballot next week.
One such domainer, Kevin Faler of California, has personally registered more than 1,000 names and says their value will “fly off the charts once Prop 19 passes.” While buying domain names has been a profitable endeavor in the past, the Times notes, whether or not these new investments will pay off remains to be seen. Still, newcomers continue to bet big that legalization is imminent.
“There is tremendous investment opportunity there,” said one investor, Shane Cultra. “Before long, you will be able to buy and sell marijuana on the Internet.” Just one example of why the marijuana industry is one of the best industries for starting a business right now.
Photo by csmonitor.