The open auction of previously reserved domain names has already generated over 50 million yuan, or more than 8 million dollars.
The auction of domain GAME.CN produced the highest offer of nearly 3 million yuan after 700 bids.
In second place was domain name GW.CN which is the Chinese abbreviation for “gou wu” or “guo wang“, meaning “shopping” or “national network”. Bids climbed to over 2 million yuan.
The domain LB.CN came next with over 1 million yuan. This can stand for “lao ban“, “libao” or “lian bang” which mean respectively “boss”, “gift” and “federal”.
The fourth best auction result was for the domain name CM.CN, much sought-after by investors and Chinese “domainers” and which brought in over 1 million yuan.
Thanks to these auctions the funds accumulated – after tax deductions – will be given to charity.