On December 16th and 17th, China’s second domain name festival was held in Chenzhou, a city in the south of Hunan province. I was kindly invited to attend this conference, but unfortunately couldn’t be there. However, the organizers, 190.com, have given me a full report of what happened at this important event in the Chinese domain name calendar. The Second Domain Name Festival, courtesy of 190.com.The conference was well attended by hundreds of local and foreign domain name investors, as well as financial experts and government officials; the attendance of government officials and financial experts is, I think, a sign of the growing realization within China that domain names and digital assets as a whole are becoming a legitimate source of investment. As with any domain name conference, there were several topics that were up for discussion including the future trends of the Chinese domain industry and potential new trading models for domain names. There were also wider talks about how China’s digital asset economy could be developed further than it currently is. Digital assets go further than domain names, but as is evident by the popularity of this domain festival, domain names will be a crucial part of China’s growing digital asset economy. During the domain festival, there were plenty of guests that delivered speeches to the gathered investors and financial experts. These included Toby Hall, the CEO of Minds & Machines; the owner and operator of a number of new domain name extensions, including .VIP, which has recently been approved by China’s Ministry of Industry and Information Technology to be hosted in China, along with .CLUB and .XYZ. According to 190.com, many of the speeches focused around the development of the domain name industry in the new economic climate in China. Alongside the multitude of discussions and speeches, investors in attendance had the opportunity to bid on thirty-four domain names in the auction event. Premium .COM’s including KD.com, KF.com and 986.com were included in the event, alongside Pig.com, 789.cn and more Here are the prices of each domain name sold at the auction: Domain NameSales Price (CNY)Sales Price (US Dollars)qianxian.com195,00028,000dk.com.cn190,00027,3439977.cn180,00025,904wxh.com375,00053,968qkj.com280,00040,296xtw.com385,00055,407cwh.com300,00043,174njf.com395,00056,846nuan.com640,00092,1050755.com255,00036,698pig.com3,960,000569,903ems.cn490,00070,518h.com.cn2,000,000287,829kd.com6,490,000934,00011.vip750,000107,936789.cn1,920,000276,31686.com.cn224,00032,236zhengrong.com350,00050,370jingshen.com202,00029,070986.com2,960,000425,990pk.cn1,250,000179,894kf.com6,470,000931,135niuren.com690,00099,301biaobai.com230,00033,100588.cn600,00086,349zhouheiya.com780,000112,254kuzi.com850,000122,328zhanhui.com530,00076,275caoliu.com590,00084,910ykf.com390,00056,12729.com.cn198,00028,495roudao.com50,0007,195chui.com475,00068,360The results of this auction shouldn’t be taken as fact. Last year, we reported on the inaugural domain festival, and included the auction results. After some investigation, we published a piece in February 2016 that confirmed many of the “sales” didn’t actually go through. Many auction events in China allow auction bidders to withdraw their winning bids after the auction has finished, in return for a small fee. In fact, 40% of the sales we reported from last year’s domain festival were confirmed as not being sold. Overall, attendees that I have spoken to have deemed the second domain festival to be a success. There looks to be a number of positive signs to show that the Chinese domain name industry is going to be a force for years to come. The digital economy is flourishing in China. -- We have included several pictures from the event, courtesy of 190.com.