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New gTLD ‘.shop’ Sells for 41.5 Million at Auction, Highest Sale to Date

GMO Registry, Inc, a Japanese domain name registry business, has won the rights to a single new top-level domain, .shop, for $41.5 million. Google and Amazon where among contenders bidding for the TLD however only two bidders, GMO and an unidentified rival, were prepared to pay over $15 million, reports Kevin Murphy in Domain Incite. GMO says .shop will be an open, unrestricted namespace however the company is forbidding speculation and trading of domains under the TLD. “Registration of a .SHOP domain name solely for the purpose of selling, exchanging, trading, leasing the domain name shall be deemed as inappropriate use or intent.”

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

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