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Unless you have rights to be the sole registrar for said TLD, how would there be value there? Even for a company like Playboy or Hustler.. Why would it be worth half a million dollars to get a .playboy? They already have the .com, everyone knows it, there's just no need. Plus nobody else could register .Playboy anyways, because of trademarks.. So it's "theirs" even if they don't buy it.
I just don't see the value, unless you plan on being a registrar and selling domain names under your TLD.
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