Radix has set a new benchmark in its premium domains segment for the first half of 2024, reporting a record $5.16 million in retail revenue. This figure represents the highest six-month revenue the company has ever achieved, surpassing $4.8 million in the second half of 2023 and $4.64 million in the first half of the previous year. The company’s latest semi-annual report highlights the sustained growth in premium domain sales, with a notable 12% year-over-year increase in total premium revenue compared to H1 2023.

The revenue breakdown reveals that $3.83 million came from renewals, while new registrations contributed $1.33 million. Additionally, platinum (one-off) sales generated $30,000. The .Tech domain led the pack, generating $1.58 million in total revenue, maintaining its position as the top-performing TLD. .Online and .Store followed closely, but the most significant development was the rise of .Fun, which claimed the fourth spot due to increasing interest from Web3 companies.

Web3’s Impact on .Fun Domain Sales

The .Fun domain extension experienced a remarkable surge in popularity, driven primarily by its adoption within the Web3 space. In H1 2024, .Fun premium sales were 2.5 times higher in Q2 compared to Q1, making it the best-performing period for this TLD to date. Radix attributes this growth to the rising number of blockchain projects and decentralized applications choosing .Fun domains for their operations.

Examples of innovative uses of .Fun include platforms like Pump.fun, a Solana-based marketplace for meme coins, and Mint.fun, an NFT mint aggregator. These projects, along with others, have contributed to a 169% growth in new registration revenue for .Fun compared to the same period last year.

Top Registrars and Market Dynamics

GoDaddy and Namecheap continued to dominate as the top registrars by premium revenue. However, Namecheap’s Spaceship registrar also showed significant growth, with a 10x increase in revenue and a 5x boost in registrations since H1 2023. Despite this growth, Spaceship currently contributes just 2% to Radix’s premium revenue, indicating potential for further expansion.

Radix’s success in H1 2024 underscores the growing demand for premium domains, particularly within emerging sectors like Web3, and sets the stage for continued growth in the second half of the year.