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MMX sells 7,000 domains for $3.4 million

Kevin Murphy, September 12, 2017, 16:17:35 (UTC), Domain Registries

New gTLD registry MMX said it has sold $3.4 million in “premium” .vip domains names to Chinese domainers in the last few months.

In what is believed to be a small number of deals to a limited number of investors, “over 7,000” domains changed hands since they became available in late June.

MMX said that $2.8 million of the deals closed in the last 10 days.

While we don’t have the exact number of domains, it looks to work out in the ball-park of $485 per domain.

As $3.4 million is a materially significant number — the company’s entire revenue for 2016 was $15.6 million — it was disclosed to the financial markets this morning.

.vip has been MMX’s cash cow, so far amassing a zone file with more than 600,000 domains names in it.

For some reason it has been hugely popular in China — the vast majority of its registrations have been through Chinese registrars and 59% of its overall revenue was from China in 2016.

In April, the company sold 200,000 .vip names to a single Chinese investor for $1.3 million.

MMX has also said that renewal rates for .vip, which only launched last year, have been over 75%.

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Comments (1)

  1. Max says:

    “For some reason it has been hugely popular in China” – the reason is that VIP has been in use for decades in China as meaning something special or luxury – it was in use long before domain names came along and so the Chinese are familiar with the English letters VIP meaning something special.

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