|An increasing number of Chinese people are realizing the value of Internet domain names. Those who manage to buy good names can make a lot of money. By the end of 2012, China had 13.4 million domain names registered in the country, a 73.1 percent year-on-year increase, according to China Internet Network Information Center. [Photo/China Daily]|
Shen Jingtao, a 19-year-old college student in Shanghai, bought an Internet domain name for 50 yuan ($8) because he believes it may eventually be worth a fortune.
Experts say he may be on to a winner. Investment in Internet domain names could become a lucrative business. With a small sum of money it is possible, by choosing the right address, to earn a six-digit dollar return overnight.
This year is especially important for young investors in China who aspire to spot domain names with a commercial value because their number will significantly expand when China starts testing Internet Protocol version 6 (IPv6), an upgrade from the current IPv4, in order to increase overall Internet use across the country.
"Domain names are important resources, just like addresses in realty development. Those who spot a potentially prestigious title can make a fortune from investing in domain names. Those who get good names can make great money," said Shen.
For Shen and many of his peers, who are young and lack capital, investing in Internet domain names is a low-cost and low-risk business.
"If you look at the growth of Internet domain names in China, you will see a huge market and great potential in the sector," said Shen.
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