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Donuts Announces 63 Strings for Applicant Auction

gTLD registry giant Donuts, Inc. has announced its commitment of 63 strings in the first online applicant auction, to be held on on June 3. Among these are big name strings, including .art, .blog and .online.

The auction is the first in a series designed by auction expert Peter Cramton. Its purpose is to allow for voluntary resolution of contention sets. The winner of each auction will become the sole applicant for the gTLD. However, proceeds of the winning bid will be distributed evenly to the non-winning bidder(s) in hopes of recovering some of the applicants’ fees and costs.

If these private auctions fail to resolve contention for a particular string, ICANN will step in with its “auction of last resort.” With this method, ICANN will keep the proceeds of the winning bid.

 

Source: Tom Brackey