Today I’d like to share with you some tidbits that I’ve found in two articles published by West.cn recently about Frank Schilling when he was attending the World Domain Conference in Wuzhen July 6 to 9. Schilling has visited China many times. What he sees right now happening in China is like the 30s in the US: people are full of passion, optimism, and hope. There is so much entrepreneurial spirit floating around. It’s truly an exciting time in China.
He thinks a lot of important events will occur in Wuzhen and I agree on this point. Did I tell you to remember the name Zhejiang in my July 19 letter? Wuzhen is located in Zhejian province, and Zhejian has more than half of the 40% global domain sales that China captures. That’s why World Domain Conference has significance due to its location.
A new idea suggested during the conference was to add domain name to QR code because the latter cannot be read by human eyes. Schilling went one step further and speculated that one day domain names may even replace QR code completely and many devices will be able to scan domain names to acquire information. He hopes someone will create a mobile app to serve this purpose.
The domain industry leader also said we may see many changes occurring overnight in China if we look at the rapid rise of its domain industry in recent years. Changes will continue, and the pace may even pick up.
Schilling explained that he spent $30m to assemble .car, .cars, and .auto in order to fend off competition in this vertical area. To recoup the cost, he sets all of them to the same high price (Godaddy is selling them all at $3,000 per name.) He mentioned one advantage of this strategy: it slows down the pace so that good domain names are still available for people who come late. His reason is that if domain names are too cheap, they’ll be gone in a day, because unlike the time when Schilling started domain investing, today news travels very quickly so a large number of domain names can be gone within a day. He has a long term plan for this group of extensions, and may consider lowering their prices to encourage more people to come and register domain names on them.
Finally, he mentioned his plan to release all .link, .click, .help, .mom, and .lol domain names in September, which will usher in new opportunities. His speech and interview published in Chinese can be found at http://news.west.cn/7745.html and http://www.west.cn/zx/7732.html respectively.