Chinese Government Approves Five New gTLDs Including The Biggest, .XYZ
New gTLDs received a huge boost in China in December as the government approved five allowing them to be sold and hosted in China. The five - .club, .vip and .xyz in early December and then .shop and .site in late December – will gain extensive advantages over other non-Chinese gTLDs within China.
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The official approval brings to seven the number of non-Chinese gTLDs legally available with .com and .net having previously gained approval earlier in 2016. The approval means registrants can obtain the required licenses for hosting domain names and establishing websites in the country. .xyz is now in a great position to further capitalise on its impressive start, having previously brokered the bigged public gtld sale so far in 1.xyz.
The five registries behind the gTLDs have all worked hard to obtain their approval, with .club, .vip and .xyz establishing offices in China and working with Chinese registry operator ZDNS to gain the approval.
The reason the approvals are important for the gTLDs come down to registrations. Currently Chinese registrants account for 11.9 million out of the 27.6 million new gTLDs domain names registered around the world, or 43.3% of all registrations. There are 7.7 million domain names, or 27.8%, for which the registrant contact information is not available. Which means it’s possible Chinese registrants account for around half of all registrations in the more than 1,200 new gTLDs that ICANN has delegated. The only other country for which there are more than one million registrations is the USA with 2.8 million registrations. Germans are third with 611,000.
Among individual gTLDs, as of mid-January Chinese registrants accounted for 63.9% of all .xyz registrations, 61.7% for .club, 96% for .vip and 84.6% for .site according to statistics compiled by the Coreile Letter blog.
So Chinese registrants, and in particular Chinese domain investors, have shown a huge interest in the new gTLDs. This has been borne out by some recent .xyz premium domains auction. The biggest announced sale was 1.xyz which sold for $182,000 in March 2016. There have been two other six figure sales – 9.xyz sold for $176,000 in December 2015 and 6.xyz which sold for $125,000 in November 2015 showing there are great opportunities for investors.
According to Domain Name Journal’s chart of top reported sales, the sale of 1.xyz was the 30th biggest domain name sale in 2016 while coming in 31st was 9.xyz with both sales brokered by West.cn, a Chinese domain name marketplace. They were the two biggest sales for any of the new gTLDs last year.
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