return icon Vietnamnet.vn

Domain name king hawks domain names around

 VietNamNet Bridge – The domain name market is taking shape in Vietnam. However, there are more sellers than buyers.

VietNamNet Bridge – The domain name market is taking shape in Vietnam. However, there are more sellers than buyers.

Multi-billion dong goods available on pavements



{keywords}

A group of people has been seen recently on the streets in HCM City with the plates on their hands which say they offer to sell domain names.





A group of people has been seen recently on the streets in HCM City with the plates in their hands which say they offer to sell domain names.

The group is led by Nguyen Trong Khoa, 38, a well-known name, called as “the domain name king” in Vietnam. The products on sale – the domain names similar to the names of the famous individuals and brands - are worth up to one million dollar.

“We are offering to sell domain names,” Khoa confirmed promptly when asked about the young men with the plates in hands. “It is not a surprise at all,” he added.

The plates really caught the attention of the passers-by. “I need money to pay debts. 1) VietnamPublicBank.com 2)NganHangDaiChungVietNam.com VND10,000,000,000”, a plate reads.

Especially, another plate informed that those who accept to buy two domain names would be given a free house. Khoa confirmed the “price”, saying that he would give the buyers a house in Phu Nhuan district, where he lives in.

The goods offered by Khoa are plentiful - VietnamPublicbank.com, Nganhangdaichungvietnam.com, Vietnamconstructionbank, nganhangxaydungvietnam.com, while the average price is VND10-20 billion. Especially, V.Retail.com is offered at $1 million.

Tran Ngoc Long, a local resident in district 7, said he thought the young men had “mental problems” when trying to hawk domain names around. However, Khoa affirmed that vending domain names is just a way of advertisement.

Instead of posting the news on domain name sale on mass media, Khoa decided to hawk domain names around to save money.

“I was trained as a marketing major, therefore, I like to follow new and strange business plans. The ultimate goal of a seller is to sell products,” Khoa said.

When asked about the pricing of the goods, Khoa said the value of the domain names depends on the value of the brands. V.Retail.com, for example, should be priced at $1 million, which is equal to 0.1 percent of the total asset value of the brand.

The violations of the laws?

Lawyers and analysts still argue about if the domain name sale is legal.

A lawyer said that Khoa’s domain names are similar to the names of the currently well-known brands; therefore, they may lead to misunderstanding and cause losses to the brands’ owners.

He believes that the behavior of Khoa serves his dark intention, for which he should be considered an imposter.

Meanwhile, Lawyer Nguyen Tri Duc from LAW 360, a law firm belonging to the HCM City Bar Association, affirmed all the institutions and individuals have the right to register the domain names “.vn” and international domain names, except the prohibited ones.

He also said that with the current “open” legal framework, individuals and institutions have been speculating domain names to transfer to those who have the demands.

Khoa has affirmed that he does not violate the laws. “A domain name trader will only be accused of violating the laws only in case they use the domain names coinciding with the well known brand names in their unhealthy competitions,” he said.

Meanwhile, Khoa said, he only registered the domain name and does not use the domain names for bad purposes.

Tien Phong

MORE NEWS

Vietnamese films earn big profits during Tet

Nha Ba Nu (The House of No Man) has been the highest-grossing Vietnamese film during the Tet (Lunar New Year) holiday.

PM to hold dialogue with young people in March

Prime Minister Pham Minh Chinh will hold a dialogue with young people in Hanoi on March 26, the Government Office has announced.

Internet slows as four out of five submarine cables suffer disruptions

Vietnamese internet service providers have confirmed that four out of five submarine internet cables that connect the country to the world are experiencing issues, seriously affecting performance and reliability.

Politburo Resolution 31 gives momentum to HCM City to 'take off'

Experts say that policies from the Politburo’s Resolution 31 will give momentum to HCM City to grow strongly, but also pose big challenges for the city.

Billionaire's companies make big profits during difficult period

The businesses owned by the dollar billionaire Pham Nhat Vuong have all reported record-high revenue at a time when the real estate market has been bogged down in difficulty.

Outstanding policies take effect in Vietnam from February 2023

A string of policies on transferring money from Viet Nam to other countries, a 50-percent fee reduction when registering for permanent residence

Spiritual milestones affirm Vietnam’s sovereignty in the sea

Nine pagodas formed from shrines or small Buddha statues erected a long time ago in the Truong Sa archipelago by Vietnamese fishermen are not only places of religious and belief activities but also the country’s sovereignty milestones on the sea.

Vietnam to attend ASEAN Tourism Forum 2023 in Indonesia

Vietnam will participate in ASEAN Tourism Forum (ATF) 2023 themed “ASEAN: A Journey to Wonderful Destinations”, and the Travel Exchange (TRAVEX) trade fair in Yogyakarta, Indonesia from February 2 – 5.

Hanoi and Ho Chi Minh City among safest cities in Southeast Asia

Hanoi and Ho Chi Minh City have both been included in a list of the safest cities in Southeast Asia, as compiled by statistics site Numbeo.

Action plan issued to accelerate national anti-corruption strategy building

Deputy Prime Minister Le Minh Khai, head of the steering committee on building the national anti-corruption strategy by 2030, has signed a decision on the issuance of the committee’s action plan.

VIETNAM BUSINESS NEWS JANUARY 31/2023

Latest guidance on one-way money transfers from Viet Nam

HCM City proposes removing hindrances to develop real estate market

Ho Chi Minh City authorities made a proposal to clear bottlenecks for healthy and sustainable development of the real estate market.

More high-value foreign investment projects needed as tax policies change

Vietnam needs to improve FDI quality, attracting high-tech projects that promise to bring higher added value.

Khmer's ginger cake of love and faithfulness

The ginger cake of the Khmer ethnic group in Soc Trang Province is a beloved traditional treat that is often offered to ancestors on important anniversaries such as the Tet (Lunar New Year) festival.

HCM City promotes digital transformation in education

Digital transformation is considered key to improving education and training quality, as proven by the effect of HCM City actively applying digital transformation over the past five years.
back_to_top