Wu Maoqing, a 32-year-old banker in Beijing, lost so much money in China’s stock markets last summer that he describes himself as “scarred” by the experience. But in October, he discovered a new asset class he hopes will help make the money back—short domain names. Since then, Wu has invested over 200,000 yuan ($30,769) to buy domains like gcmw.cn that he’s hoping to sell for twice what he paid.
Speculative market
Most Chinese buyers, like Wu, aren’t snapping these up to start their own online companies, they’re buying them hoping to sell in a few months or years for a higher price.
A recent auction in Shenzhen showed how hot names are right now. On Dec. 19th’s “Domain Day of China,” the first-ever Chinese
Domain Festival and China Digital Asset Investment Summit, a crowd of over 200 Chinese investors spent 154.49 million yuan ($24.1 million) (link in Chinese) to snap up domain names like house.com.
Source
Speculative market
Most Chinese buyers, like Wu, aren’t snapping these up to start their own online companies, they’re buying them hoping to sell in a few months or years for a higher price.
A recent auction in Shenzhen showed how hot names are right now. On Dec. 19th’s “Domain Day of China,” the first-ever Chinese
Domain Festival and China Digital Asset Investment Summit, a crowd of over 200 Chinese investors spent 154.49 million yuan ($24.1 million) (link in Chinese) to snap up domain names like house.com.
Source
