Dot SHOP Sells for $41.5 Million
Japanese domain name company GMO Registry will control the .SHOP top level domain name.
An auction for the rights to the new TLD finished this week with a whopping price of $41.5 million. GMO's bid for the hotly contested top-level domain beat out several others including Amazon and Google.
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."
ICANN has reportedly collected over $100 million from new top level domain name auctions.