Home > Domain Name News > .Shop Sells For $41,501,000 To GMO Registry, Inc.

.Shop Sells For $41,501,000 To GMO Registry, Inc.

icann

On 27 January 2016, Power Auctions LLC, ICANN‘s authorized auction service provider, conducted a New gTLD Program Auction to resolve string contention for one new generic top-level domain (gTLD) contention set: .SHOP.

This set was previously identified as an indirect contention set consisting of both the .SHOP and .SHOPPING strings. The applicants for .SHOPPING have resolved their contention amongst themselves, eliminating the linkage between .SHOP and .SHOPPING. The remaining contention set is a direct contention set for the string .SHOP. The applicants were unable to resolve contention among themselves; thus their contention set proceeded to auction, which is the method of last resort to resolve string contention as prescribed in Module 4 of the New gTLD Program Applicant Guidebook. Subject to payment of the winning price and meeting all other criteria for eligibility, the winner will enter ICANN‘s contracting process to sign a Registry Agreement to operate the gTLD.

Seven applicants completed all necessary prerequisites and participated in the auction for .SHOP. GMO Registry, Inc., applicant for .SHOP, prevailed with a winning price of $41,501,000.

All proceeds from the Auction are being segregated and withheld from use until ICANN‘s Board of Directors define a plan for an appropriate use of the funds through consultation with the community.

Sold.Domains

About Konstantinos Zournas

Konstantinos studied Computer Engineering and Computer Science in London, UK and lives in Athens, Greece. He works on domain names and website and software development. He has been online since 1995 and a domain investor since 2002.

Check Also

gay-logo

DotGay LLC Creates Video Going Against ICANN Over .Gay

DotGay LLC is the originator of a proposal to create a .gay domain space on …

new-gtld

New Domain Names Launching In 2016: .Games, .Shop, .Blog, .Web

These are the new domain name extensions (New gTLDs) that are launching until the end of 2016. …

7 comments

  1. That is a terrific name ending but it’s going to be a very long road to economic payback. The name of the game in domain names is the same whether you participate as a gritty domainer or the biggest registry. Buy low sell high.

  2. I thought if an extension comes down to bidding that the losers get to split the winner’s bid. Don’t the 6 losers in the auction get the $41 million?

  3. Yahh! no more 18 cent icann fee i guess, now that they just got a $41M payday for flipping the switch on

Leave a Reply

Your email address will not be published. Required fields are marked *