ICANN have just announced that it is going to be introducing a whole new level of internet domain names as they explain below.
“Presently, users have a limited range of 21 top level domains to choose from — names that we are all familiar with like .com, .org, .info.
This proposal allows applicants for new names to self-select their domain name so that choices are most appropriate for their customers or potentially the most marketable. It is expected that applicants will apply for targeted community strings such as (the existing) .travel for the travel industry and .cat for the Catalan community (as well as generic strings like .brandname or .yournamehere). There are already interested consortiums wanting to establish city-based top level domain, like .nyc (for New York City), .berlin and .paris. “
This is really good news there has been a flourishing market in buying up 4 to 5 letter domain names with the intention to sell them on at a higher price. This will effectively put an end to that. Which means I have a few blog posts to change.
The plan is set for implementation in the first half of 2009. Read more here