WordPress recently prompted me to renew my subscription and also offered to provide me with a free domain registration renewal if I renew before a certain date (smart way of keeping people hooked). I will post something separately in-case I learn anything new that I was not aware of.
Anyway this prompted me to ask them a few questions to understand what the reasoning behind this is and how it works. Apparently it depends on current market values and other factors, so it can change in unpredictable ways from year to year.
I also decided to try and find out more on my own to see what my domain name is worth, purely out of interest. And what I found is a whole industry in domain name trading. I knew it existed but the size of it still surprised me. How fascinating that you can make money on trying to predict and claim ownership of a piece of data that someone else will need to make their dreams come true.
I have attached two informational videos of this if anyone is interested in looking at it more closely.
Also during this random hunt for knowledge I found two sites that estimate the price of your domain (there are many more I’m sure). However I’m not so certain how accurate these are since the difference was very big when it came to mine. Between 500usd-50usd (I’m more inclined to believe the latter one). Anyway it was a fun experiment.
Domain value estimator
Domain trading guides