A young man smokes a marijuana joint in Montevideo, Uruguay, on May 8, 2013.
(Photo: Pablo Porciuncula, AFP/Getty Images)
Two Seattle residents have found their own way to capitalize on the burgeoning marijuana industry - and it doesn't involve growing or even selling pot.
Wayne Dixon and Daniel Brooks are buying marijuana-related domain names, such as WeedMeditation.com and MadeWithMarijuana.com, in the hopes of selling them at a profit.
The longtime friends started buying pot-related URLs about a year and a half ago, as Washington state residents considered legalizing recreational marijuana. They now own more than 200 pot-related domain names.
With medical marijuana legal in 20 states, and recreational marijuana legal in Washington and Colorado, Brooks and Dixon said they see a financial opportunity in purchasing domain names that could be used by marijuana businesses.
"There are going to be websites, and this is what we call virtual real estate," said Dixon, who owns ULO Media with Brooks.
The friends, who call themselves "domainers," buy the domain names for as low as $8.99 and are aiming to sell each for a minimum of $10,000.
The domain names include Washington and Colorado names, such as WashingtonOrganicMarijuana.com and DenverMarijuanaTourism.com. Brooks and Dixon also see the potential growth of marijuana use globally. They've bought ChineseMedicalMarijuana.com, UruguayMarijuana.org and JamaicaMarijuana.com, which they hope fetches a million dollars.
Although the pair hasn't sold any domain names yet, they are in negotiations with people in New York, Texas, California and even Australia and Switzerland.
The friends acknowledge that others can do what they're doing, but the two said they spend a lot of time researching marijuana topics and word combinations.
For example, they noticed the popularity of marijuana-related fashion, which prompted them to buy MaryJaneSwimwear.com, MaryJaneLingerie and StickyIckywear.com.
They also bought PotheadDating.com and DateStoners.com, which could host dating sites for marijuana smokers.
"The sky is really the limit," Brooks said.
Here's a sampling of other domain names Brooks and Dixon have bought:
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So this is what $128 million worth of drugs looks like