Vietnam has successfully conducted its first auction of premium national domain names, with two-letter “.vn” domains attracting strong interest and commanding prices of up to VND1.584 billion (US$65,000).

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A VNNIC representative said that auctioning domain names not only ensures efficient allocation of internet resources but also plays a crucial role in leveraging scarce, high-identity digital assets as strategic resources for organizations and businesses in the context of digital transformation.

According to the Vietnam Internet Network Information Center, the auction, held from March 18 to 20, marked a significant milestone in applying a market-based mechanism to allocate high-value internet resources.

In total, 50 second-level domains consisting of two characters under “.vn” were offered. Of these, 37 domains were successfully auctioned, achieving a success rate of 74%.

The highest winning bid reached VND1.584 billion (US$65,000), reflecting both the scarcity and the strong appeal of short, memorable domain names.

A strategic digital asset

A representative from VNNIC emphasized that the auction was not merely about allocating domain names, but about optimizing the use of scarce digital resources with high branding value.

In the context of rapid digital transformation, such domains are increasingly viewed as “strategic digital assets” for organizations and businesses. Their brevity and memorability can significantly enhance brand recognition, improve online visibility, and expand market reach both domestically and internationally.

More broadly, the positioning of “.vn” domains is evolving - from a simple internet address to a foundation for digital identity, credibility, and trust, contributing to Vietnam’s presence on the global internet landscape.

Next steps for winning bidders

Successful bidders are required to complete their financial obligations by April 11, 2026, through bank transfer as instructed by VNNIC.

Once payment is confirmed, eligible individuals and organizations can proceed with registration and begin using their acquired domains.

Within six months from the announcement of results, winners must complete registration procedures through accredited registrars of the national “.vn” domain system.

Failure to fulfill payment or registration requirements within the stipulated timeframe will result in the cancellation of the auction outcome, with no refund of the paid amount. The domain will then be returned to the auction pool in accordance with regulations.

Looking ahead, VNNIC plans to organize a second round of auctions in June 2026, offering additional valuable two-letter “.vn” domains. The initiative is expected to continue attracting strong interest from businesses and individuals seeking to capitalize on Vietnam’s growing digital economy.

Thai Khang