Where is this money going? How are these prices set? I looked up a four letter .com I have and it’s $2400. Why?

Other domains aren’t available yet.

NFTs for names is a really good idea but it seems like the novelty is in getting acceptance and trust. Not sure why a random org should get really substantial fees for names. For ICANN we’re forced to. But for a good blockchain solution the prices should be equitable.

I understand that reselling goes to the owner, but this seems like a cash grab.

That and many domains like common first names aren’t available yet.