56.6 F
Los Angeles
Wednesday, Feb 21, 2024

Domain Registry Company XYZ Gets Permission to Sell Domains in China

Domain registry company XYZ Inc. has been granted permission by the Chinese government to sell its dot-xyz domain suffix in China, potentially opening up a huge market to the Santa Monica startup.

XYZ has sold more than 6 million dot-xyz domains globally. About 2 million of those domains were registered in China with tentative permission from the Chinese government. The firm has exclusive rights from Internet Corp. for Assigned Names and Numbers, a Marina del Rey nonprofit that administers and manages domain names, to sell the dot-xyz domain.

Now with official recognition from the Chinese government, XYZ’s Chief Executive Daniel Negari said he expects to see a huge uplift in registrants from China.

“We are one of the first foreign registries to get approval,” he said. “It’s a complete game changer. It absolutely changes the trajectory of our business.”

Some of the dot-xyz domains have sold for a premium, he added. In March, the company sold domain name “1.xyz” to Chinese domain registry West.cn for $183,000.

Technology reporter Garrett Reim can be reached at greim@labusinessjournal.com. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

Featured Articles

Related Articles