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Why isn't there any new age startup working on this almost all of the existing players are about a decade older or more so they are slow and sometimes won't even innovate.
So I'm considering building it myself, domain auctions with help of escrow in between, and I'm looking for feedback and opinions from you guys on whether I should pursue this or not.
The idea is to provide a secure and reliable way for bidders and auction listers to transfer domain ownership and payment. The escrow service would hold the payment from the bidder until the domain transfer is complete, and then release the payment to the lister.
Here are some of the key features I'm considering:
* Secure payment sending and receiving through a trusted platform like (escrowdotcom)
* Verification of both the bidder and lister to ensure a smooth and fraud-free transaction.
* A user-friendly interface for managing auctions, bids, and payments
* Limiting the listings spam and overcrowding with junk domains by ensuring listers are asked to pay per day listing fee (like few cents/day).
* Limit the bidders from spamming/creating fake accounts from listers to hike offers through asking them to pledge a minimum from their wallet before making a bid (also minimal fee) and if they don't win the bid the pledge will be sent back to their wallets.
* Offer better customer service.
Any feedback or opinions you have would be greatly appreciated. Thank you!