.SHOP Launch Shows GMO’s $41.5m Investment Should Pay Off Handsomely

dotSHOP gTLD logoThe General Availability for the .shop new generic Top Level Domain commenced on 26 September, and already the new gTLD is looking like being a great investment for the Japanese GMO Registry after it paid $41.5 million at auction for the rights to operate it, as well as no doubt a few million more to get it to market. At the time it was the most paid for any new gTLD, however this has been eclipsed by the $135 million paid by Verisign-backed Nu Dot Co for the rights to operate .web.

In the first 30 minutes 39,801 .shop domain names were registered and by the two-hour mark GA registrations grew to 45,427. There are now over 54,000 .shop domain names according to nTLDstats.com after more than 1,000 names were registered by trademark holders during Sunrise and around 5,000 during the Early Access Period. Many of those first in the door at .shop chose to pick up premium names and a total of 616 premium names have been registered to date.

.shop is aimed at online and offline shops. Short, intuitive, memorable and broadly understood, internet users instantly identifies a .shop website as a place to shop. Registration of .shop is open to all and there are many potential uses of the domain as .shop can be for anyone, anywhere with something to sell online or offline. It is a great choice for any kind of online businesses including digital content and ecommerce solutions providers as well as the growing B2B ecommerce market. A .shop domain name can also help offline retailers and service providers to be discoverable online. For corporations, short, memorable .shop domain names are a powerful marketing tool and can be used to distinguish their corporate website from their online shop and provide an enhanced user experience for their customers.

“This is a historical day for .shop and we are thrilled with the results but it is just the very beginning” says GMO Registry CEO, Hiro Tsukahara. “Going forward we aim to contribute to the success of both online and offline businesses and to support and encourage innovation and development in ecommerce.”