OnlineDomain.com Domain Name News & Opinions
ICANN New gTLD auction proceeds are at about $26 million so far. Almost all money comes from the 2 most recent auctions that included New gTLDs such as .tech and .realty.
.Auctions are the mechanism of last resort to resolve string contention within the New gTLD Program. ICANN expects that most string contention will be resolved through other means before reaching an Auction conducted by ICANN’s authorized Auction service provider, Power Auctions LLC.
However, there is a possibility that significant funding will accrue as a result of several Auctions. Auction proceeds will be reserved and earmarked until the Board determines a plan for the appropriate use of the funds through consultation with the community. Auction proceeds are net of any Auction costs. Auction costs may include initial set-up costs, auction management fees, and escrow fees.
Below is a breakdown of Auction proceeds as of 22 October 2014.
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ICANN invented the goose that lays the golden eggs, no doubt. Just wondering how much of it will benefit the ‘global Internet community’ that it professes to support. I’d like to see a change in how domain name ownership is handled, with the issuing of title certificates. Just as you can’t buy a car or a house from someone else without one, electronic, secure titles should be issued when a domain is registered.
It seems that we are in the stone age as regards to domain name ownership.
Great idea Theo ! would love to see title certificates