THE first advertisement by a top Chinese Internet celebrity was put under hammer Thursday, with a top bidder offering to pay a record high 22 million yuan (US$3.4 million) for advertising in one online video clip.

    The auction, dubbed the first of its kind in China’s new media sector, was for sales of the post-credits advertisement in one video clip by Papi Jiang.

    Papi Jiang, whose real name is Jiang Yilei, gained 11.59 million fans on Sina Weibo by producing and posting funny video clips of one-woman sketches.

    The auction was held both online and offline simultaneously. The bidding started at 217,000 yuan and closed at 22 million yuan within 7 minutes. The highest bidder is a Shanghai-based cosmetic firm, Lily&Beauty.

    The jaw-dropping auction is a tip of the iceberg of China’s booming Web star economy — a business that allows cyber personalities to monetize their fame by using their influence on fans.

    Papi Jiang didn’t show up at the auction. But her business partner, Yang Ming, said at the event that they are going to donate all of the net income from the auction to their alma mater — the Central Academy of Drama.(China Daily)