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(by Lucas Roze)

April 7th, 2006 was the opening day for new “.eu” domain name registrations on a first come first serve basis for the public who reside in the European Union (25 countries). That same day, I tried to logon to a “.eu” registrar website EURid.com to see what types of domain names were still available. To my surprise, I couldn’t even get close to the site, presumably because of the intense influx of European users hitting the site. 

It was reported that over 300’000 Europeans rushed to register on these registrar sites within the first hour of operation. Businesses and public offices have had the luxury to signup since the month of December. However, for those that waited too long and missed the cut, there are thousands of hungry buyers ready to capitalize off your procrastination.

To date, over 550’000 registrations have been recorded with fees as low as 12 euros ($16.66 CND) for a domain name. Savvy Internet users are profiting on this type of offer to purchase domain names for popular brands and common words in hope to have a wealthy business knock at their front door stating “Name your price!”

Everyone has a friend or an acquaintance that bought a “.com” domain or two, then turned around and made a quick profit. The reality is that the early bird gets the worm, and domain names are becoming very hot commodities. Furthermore, with the many registrars competing for your business, I imagine prices should start falling soon after the rush. This can be seen in North America by the success of GoDaddy.com (which also offers .eu names) offering domain names at low costs, $8.95 US (7.39€) per name.

With the frenzy slowly coming to an end, investors are now playing the waiting game to see if their holding the lucky number. There should be another small increase when the names become public to the rest of the connected world, but nothing like we have seen I’m sure. 

To support my title, I checked the availability on EURid.com, but it is pending approval :(

By IC-Academy | April 11, 2006 | News & Trends

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