Transcript

(00:00) [Music] hi my name is sydney williams i am so happy to be here i’m a mba student in my last semester at harvard business school and most recently i interned at injuries in horowitz which invested in handshake and so i’ve been surveying the portfolio companies for some time and this project is so interesting i’ve been involved in the auction process by way of name base for about three weeks now uh and to be honest that first week i lost every single bit i made and so i went into analysis mode and today
(00:41) i’ll be sharing my top five takeaways from my first two weeks using name big i’m hopeful that these tips will help grow the community um and so let’s get started and so tip number one is you know to understand the auction process i’m a millennial and so reading direction goes again reading directions goes against a lot of what i believe in however um reading this particular section was super helpful for me and understanding the auction process and really getting into what that means as i go through the process i’d be
(01:18) honest my first week i did not read this i highly recommend going through it the team has done an amazing job at making this just as helpful and and straightforward as possible so i think reading this first things first from the faqs will make a huge difference and really lay the foundation for exactly what to expect when getting into uh name base and investing in tlds tip number two is to make sure that you have enough h in your account to cover your bid amount and your added blind amount because those amounts in total will be
(01:51) locked up and so what i didn’t realize is that that lock up period could be five days or so and so i was super bullish i maybe you know bid on three or four different tlds and i quickly learned that i didn’t have enough left to bid on that last cld because the majority of my funds were locked up and so i think understanding the lock-up period and having enough hms in the account and budgeting for yourself and what’s most important and what you’re willing to bid the most on is super helpful because things
(02:22) can get competitive uh when others notice that you might have an interesting um tld that you’re bidding on and that leads me to the third tip which is to stay on top of your tlds uh snipe bidding is real and it’s a challenge for example there’s the ending soon section which um anyone could really just hop into ending soon see that something ends in 20 minutes or so they can come in here and they can pretty much outbid you on uh something that you may have truly wanted or a bid process you might have even
(02:57) initiated and so it’s it’s really important to understand that you may need to put in a buffer amount of h and s so you can continue to compete through the entire period uh that the bidding process will take place which could be five again to seven and tip number four is related to this and it’s it’s a bit of a a tricky one uh but i’d say that knowing the difference between what scent means and what mind means and so when you put in your bit there is a mining period that you have to be conscious of and it’s very likely
(03:32) that you could put in a bid and it might not get mined which means that it won’t be considered in the overall process and the bid history so for example if there is a 20-minute mining period and an auction closes in 10 minutes your bid will likely not be considered it’ll be sent but it won’t be mined and so here you can see that these were remind and are considered in the process and this one is not especially if the auction is going to end soon there might not be enough time for it to be mined and therefore considered
(04:09) and so i thought i was cool bidding at the last minute but i didn’t realize that that mining period might not have been long enough tip number five is to just get started get yourself involved put yourself out there and get involved with the community and um start bidding to see you know what your personal strategy is and if there is an opportunity to own your name in your own space in in the digital world and online i i definitely want to continue to immerse myself in the community so anyone can always reach out to me
(04:42) and i’m more than happy to chat and support thanks so much to stephen and mike for providing this opportunity and johnny for facilitating thanks [Music] you