Vietnam auctions domain name ‘.vn’ for the first time

This is the first time national domain names “.vn” with a length of 2 characters will be publicly auctioned online. The auction took place on three days March 18, 19 and 20, organized by Vietnam Auction Partnership Company.

The auction list includes many domain names that are considered to have brand significance or are associated with the industry.

The first group is associated with big brands or brand abbreviations such as mb.vn, lg.vn, hc.vn, cj.vn, jd.vn, jt.vn, which have high value in protecting and developing digital brand assets.

The second group is suggestive domain names according to industries such as ot.vn (automotive), dd.vn (mobile), fa.vn (finance), gc.vn (golf), ex.vn (import-export)…, suitable for businesses and organizations that need to build specialized brands.

Third is the group of domain names following social trends and digital culture such as 2k.vn, ok.vn, hi.vn, f0.vn, ez.vn, em.vn…, which are highly pervasive in the digital environment.

In addition, extremely short alphanumeric domain names such as p1.vn, j2.vn, t7.vn, g8.vn… are modern, suitable for the technology field and have long-term investment potential.

Auctions are organized by bidding method and conducted individually for each domain name. Each session has a minimum duration of 20 minutes. The price for each auction is 1 million VND.

The starting price is 10 million VND per domain name, excluding taxes and additional costs. Participants must purchase documents for 50,000 VND and deposit 1 million VND for each domain name registered for auction.

According to Vietnam Internet Center (VNNIC) – Ministry of Science and Technology, the auction aims to effectively exploit national Internet resources, while creating transparent opportunities for businesses, investors and individuals to access and own unique online identities in the “.vn” digital ecosystem.

Auction activities are carried out in accordance with current legal regulations, ensuring the principles of openness, transparency, equality and healthy competition. The auction winner is granted the right to use the domain name according to regulations and can transfer usage rights according to current regulations. This means that the “.vn” domain name can become a digital asset with investment and commercial value, not simply a website address.

2-letter domain names are considered a special resource due to their limited number, short structure, easy to remember and high brand recognition value. Putting this group of domain names up for public auction marks the first time this type of digital resource is allocated according to market mechanisms.

This activity also promotes Vietnamese businesses to build strong digital brands, increase competitiveness and develop the digital economy. After the first auction, the Ministry of Science and Technology plans to open a second auction of “.vn” domain names in June.