TheInternetCompany Inc. of Princeton, N.J., which has held the domain name as an unused “asset” since 1996, hopes to tap the financial services industry for a quick cash infusion.

The company is mum about what it originally paid for the domain name and isn’t offering indications as to what the name might fetch at auction, but it eagerly reminds potential bidders that the term “wealth” is Googled more than 1.5 million times a month.

“Right now is a good time to focus on investments, and there is definitely value in this type of name,” said Don Cook, a vice president at TheInternetCompany.

He added that while he realizes that the economic downturn could result in a lower sale price, he hopes that the financial services industry recognizes the value of generic domain names.

The strategy has been used, for example, by Charlotte, N.C.-based Bank of America Corp. (Loans.com) and Boston-based Fidelity Investments (Funds.com).

Other recent domain name sales by other companies include the $1.7 million paid by New York-based Travelzoo Inc. for Fly.com, and the $5.1 million paid by Wayne, N.J.-based Toys “R’ Us Inc. for Toys.com.

According to Mr. Cook, the Wealth.com domain name, which was originally registered in 1994, has never been attached to a specific company.“A couple of business plans that were created around the name have come and gone, and there have been some interested parties, but the site has never been officially launched,” he said.

The auction will be conducted online by Sedo.com LLC, a Cambridge, Mass., firm that specializes in such sales.

“These [generic] domain names have the power to dramatically improve company web traffic and search results, while creating instant brand credibility that will last well beyond the economic downturn,” said Jeremiah Johnston, Sedo.com’s chief operating officer.

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This is impacting many blogs hosted on blogger.com, including popular blogs like Americablog.com and eschatonblog.com

Blogger.com offers a feature to redirect users from a blogspot URL to a custom domain name. As an example, atrios.blogspot.com is supposed to be automatically redirected to eschatonblog.com. However, starting last Tuesday, the Google product started inserting an interstitial page before redirecting.

For Firefox uses this appears as a redirect warning notifying users that they were leaving Blogger. For Internet Explorer and Safari users (and iPhone users), they are notified that the page could not be displayed or that the blogs no longer exist.

Users are still able to access the blogs via the custom domain name, however any bookmarks, or links from other sites, using the blogspot address are affected.

This has led to a significant decline in traffic for many Blogspot.com hosted blogs, with some sites reporting a 50 percent decline in traffic.

Blogger engineers acknowledged the problem on Wednesday morning, June 17th: Custom domain redirects incorrectly displaying warning page

“Custom domain users are reporting that traffic to their blog’s Blogspot URL is inserting a redirect warning notifying users that they are leaving Blogger. Previously, no warning was issued and visits to the Blogspot URL were automatically re-routed to the user’s Custom Domain.

Blogger engineers are aware of the issue and are working on a fix. We apologize for the issue, and will update this post when it is fixed.”

As of Saturday the service disruption is still unresolved.

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If Sweden had not claimed the top spot, Great Britain’s .co.uk would have and that extension would have done it in duplicate. OnlineCasino.co.uk and HorseRacing.co.uk attracted £100,000 ($165,000) each (again via Sedo) to tie for the #2 spot on the Big Board.  In another banner week, the ccTLDs took 8 of the 20 chart entries. Sedo accounted for six of those country code sales and wound up charting 13 domains overall to easily win the high end race among venues. The two charted ccTLDs Sedo did not sell were #12 SexToys.com.au (Australian ccTLD sold for $20,655 by Netfleet.com.au) and #15 Dongles.co.uk (sold by Registrars.co.uk for $18,150).

.Com made its first appearance at #4 thanks to RickLatona.com’s $150,000 sale of French.com. Latona also claimed the #5 spot, ringing up $35,000 with PinballMachines.com. RickLatona.com was the only venue besides Sedo to score multiple chart entries (Latona had three overall).

One of Sedo’s sales, #14 RailEasy.com at $20,000, gave its seller a tremendous return on investment. The name has originally been purchased for just $1,688 in October 2006 at BuyDomains.com.

Only one non .com gTLD made the elite list this week - #8 (tie) Snowboards.net, a name that Sedo sold for $30,000.

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ICANN is using Adobe’s Connect software, which allows people to see everything in a particular session on one screen: live video, live audio, a live transcript, a chatroom, and presentation slides updated as they are in the room.

This should provide everyone with the best remote participation we have ever been able to provide — and we will archive the entire session for later viewing. See mex.icann.org/ccnso-sessions for examples of the ccNSO sessions from Mexico City.

In order to get some idea of who is using this new service, you will need to fill in a quick two-minute registration form and then you are free to log in and view all the main sessions.

If you indicate on the registration form, that you are interested in learning more about ICANN’s remote participation efforts, we will get back to you, ask for feedback, and supply updates on future events and plans. Thank you and all the best with ICANN 35.

Related links:

Registration Form: icann.na3.acrobat.com/e25733704/event/registration.html

Event Login: icann.na3.acrobat.com/e25733704/event/login.html

This ICANN announcement was sourced from:
icann.org/en/announcements/announcement-20jun09-en.htm

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