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OpenFact.com sold for $5000 and perpetual license; 1100%+ ROI & future market insight for decision making

amplify

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Nicolas Bustamante of Fintool, soon to be rebranded as OpenFact, has purchased the domain name openfact.com from my portfolio. I've held this domain since winning it at an expiration auction in April 2021.

With the rapid growth of AI, it's clear that OpenFact, with its tool designed to help everyone from retail investors to fund managers navigate real-time SEC EDGAR filings, could rapidly be valued at seven figures or more.

During negotiations, a lease offer based on its future perceived valuation was declined.

I also didn't want to complicate the deal by requesting equity in addition to the lease.

Bustamante initially offered $4,000, but after friendly negotiations of an $8000 counter-offer, we settled on $5,000. The deal also includes a perpetual license for me to use OpenFact's tool at its highest privately offered Executive tier. The publicly offered pricing costs $2,000 per year.

I plan to use the tool to offset the difference from the sale by leveraging it to identify and confirm patterns in value plays for swing trades in the stock market, combining it with technical analysis, as I continue to divest from domaining. That isn't to say that I won't be buying names in the future, but rather being more selective when I do strike.

I originally bought the domain for $410 in April 2021 and sold it for $5,000 in June 2024, achieving an 1112% return, or an 87% annualized return.

Nicolas Bustamante has this to say about the sale and transformation of Fintool to OpenFact:
Nicolas Bustamante said:
I am thrilled to have worked with David, who was super professional throughout the process. OpenFact is a great domain with extensive possibilities regarding its usage. This acquisition is a significant step towards my vision of providing an accurate, precise, and factual tool. I particularly like the term 'open,' reminiscent of open-source principles, which aligns perfectly with our goal of transparency and accessibility in financial data. OpenFact is poised to make a significant impact, and I am excited about the future possibilities this tool brings to the market.
When it comes to personal investments in other securities, I'm excited about the hours I'll save by using OpenFact to navigate those tedious SEC filings. Additionally, I hope that the future of OpenFact can make breakthroughs that help identify securities similar to my current holdings and provide valuable suggestions.

I earnestly wish Nicolas everything that will come his way when it's seen just how powerful this tool can be to get precision answers for investing decision-making.
 
Domain Summit 2024

amplify

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Interesting read. Congratulations to both parties!
It shows you how valuable it is to ask what intentions the buyer has for the domain.

It would've been nice to have the extra money, but after using the tool with the free questions you receive on signing up, I knew I could save me time and potentially allow me to take better trades, gaining the difference, by leveraging AI with my trading decisions.
 

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