Hours after Jack Dorsey resigned as Twitter CEO, his other company announced a name change.
Digital payments platform Square, adopted a new corporate name, Block. The new Block name encompasses other Square-owned companies such as Spiral, Cash App, and Tidal, the music streaming service.
For domain enthusiasts (yes, there is such a thing), one of the most notable aspects of the upgrade was Dorsey’s choice of domain.
Block operates on Block.xyz.
The domain was acquired earlier in 2021 in advance of this project. How much was Block.xyz sold for?
The domain was sold by Cao Xiaoxia in May 2021 for $4,999, in a deal closed on the Afternic marketplace, according to data I received from the seller.
While in hindsight the investor could have sold the name for more, I’m told that they received a good return on investment, and with a portfolio of over 8,000 domain names to maintain, booking a profit was important for the investor.