On February 5th 11:15 AM Gary Epperson was excited he had just registered his first new gTLD, X.Ventures. He had just received a confirmation email saying he was now the owner of X.ventures for $47. Garry was now a new gTLD investor.
But the next morning he received an email from Godaddy stating they were going to have to refund his money. No explanation, just that he was going to get his money back and that would not be the owner of the domain. Garry immediately called Godaddy to find out what had happened. Customer service said only that they believed there was a trademark registration on the name so he wouldn’t be awarded it. But they weren’t exactly sure what happened. Satisfied with the answer until later in the day when he saw a comment on DomainInvesting that is was now available for sale for $1000 by Aaron Strong. The registration date? February 6th, the day after Garry originally had registered the name. Like any of us he was sick to his stomach for having at least $1000 taken away from him.
What happened? Nobody really knows. After consulting a lawyer, Garry was told that it was too easy for Godaddy to claim a glitch in the system and that the legal battle would cost more than the value of the name. A value that has been established because x.ventures was claimed to have been sold for $1000 already, but still sits in the Aaron Strong’s name. It also proves that in this industry sometimes luck plays the biggest part in making money.