Has anyone else notices that when you go into your Godaddy account, your domain names now have a value attached to them? Godaddy started using algorithms to calculate a value to the domain names in your account.
This is because Godaddy hopes you will sell your domain name using their partner site called Afternic and there is a lot of money in buying and selling domain names.
But, does it make sense to use an algorithm to find a value for domain names?
An algorithm is a process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer.
So, by definition, an algorithm could be used to solve the problem of finding a value to a domain name. However, using this system of evaluation is being used to push people into a system of buying and selling their domain names by giving them a false sense of value.
Godaddy knows they are giving a false value to their domain names.
The proof is that Godaddy continues to sell “appraisals” to evaluate domain names.
If your domain names need to be “appraised” then what is the value already attached by Godaddy? Yeah, like I said, “A false value.”
Companies spend millions of dollars establishing a brand name and marketing their product’s name. Individual names not violating trademarking need to be appraised to estimate a value. Using a ‘formula’ to find a false value for a domain name does absolutely nothing but lead a customer into believing their domain name is more valuable then reasonably it can be sold.
This is an example of how large internet companies are misleading the public.