Imagine every membership or luxury product in China. Then imagine all their most premium brands with the English acronym VIP added on and you will understand what happened last week in China’s Internet market.
From cars to condos, alcohol to private jets, exclusive clubs to premium membership programs, all luxury products and services in China have some element of VIP involved in the naming.
So when the London-traded domain registry MMX, clients of Allegravita, launched their domain extension .VIP to the world last Wednesday, China bought 83% of the 167,231 domains that were registered in the first 24 hours, making it the most successful launch of a new domain extension to date.
Six premium names were additionally auctioned two days later on May 20th on Alibaba’s Xianyu Auction platform, reaching a total sale of CNY958,500 or USD146,000. Within five days, MMX had accumulated $3.2 million USD in billings, according to Kevin Murphy’s post on DomainIncite.
— Minds + Machines (@nTLDs) May 20, 2016
Allegravita is very pleased to have been a part of this launch. As of this morning, .VIP has registered 209,725 domains according to nTLDstats.
An independent third-party infographic was also released yesterday, indicating that 1,665 registrants intend to keep their domains for more than a year and more than 100 countries participated in the launch. VIP is now in the top 20 worldwide new domain extensions (new gTLDs).
For reference, the following infographic, posted on OnlineDomains by Konstantinos Zournas, breaks down the first 24 hours of the launch.