Chinese domain market is preparing for a shock.
A Chinese domain investor that has spent $2.9 million dollars investing in short .com domains that do not contain the letters A,I,O,U and V is causing a major stir in the domain market.
Xiang Gong Fu of Shanghai, China, is dropping his entire domain portfolio of several thousand domains to focus on other ventures.
The domain portfolio is mostly .com, .net, .org and some .CC domain names popular with the Chinese.
“The market is slated for a major correction in 2016, and Mr. Xiang Gong Fu is keen on re-structuring his business focus away from CHIPS domains,” said Chinese industry expert, Johnny Liau.
“Thousands of domains that are no longer needed are going to be dropped, and other domain investors are welcome to assume ownership of them when they drop,” added Mr. Liau.
The Chinese domain market’s fluctuations can be observed daily via BenMi.com.
Such a large domain portfolio abandonment isn’t a first for the domain industry.
In 2014, domain investor Mike Mann gifted away several hundred domains to charities and other recipients, who eventually allowed them to drop.
