ICANN approves release of one and two character .biz domain names.
After a delay a month ago, ICANN has finally granted .biz registry NeuStar (NYSE: NSR) the right to release one and two character .biz domain names.
The domain names will be released in two phases. The first phase will call for ‘requests for proposal’, where an entity can explain how it will use and promote the domain name. NeuStar will begin accepting RFPs for 36 one-character letters and numbers domains on June 1, 2009, with a response deadline of July 30, 2009. Any domain that is not allocated during the RFP process will be auctioned off. Then NeuStar will do a similar process for two character domain names. All proceeds from the process will be reinvested to promote the .biz brand.
.Biz was released in 2001 and now has 2 million domain names registered.
We don’t have many comparable sales for one character domain names (save for certain country code TLDs), but there are comps from various two character .com domain name sales. With that in mind, how much do you think a typical one character and two character .biz domain name would sell for in an auction?