ICANN Changes Web Address Rules

(Ping! Zine) – The Internet Corporation for Assigned Names and Numbers (ICANN) is currently planning on making dramatic changes to the rules for Web addresses for 2012, a move that could make .com’s irrevelent, according to reports from cnet.

ICANN is looking to allow potentially thousands of new generic top-level domains to be created, a huge shift from the current few GTLDs of today – .com, .net, .org, .biz, .edu.

ICANN’s new GTLD expansion will also allow companies to protect their brand by  purchasing generic domains such as .hotel or .bank and branded domains such as .apple or .mcdonalds. This will allow companies to secure a branded domain name and have complete control over it by not allowing others to own it. The move could also potentially lead to new branding and marketing strategies.

So now you may be asking yourself, “How do I get one?” Unlike the current registration process of current GTLDs through domain registrars, those who are looking to create their own must register through ICANN, and it doesn’t come cheap. The application fee will cost you $185,000 and $25,000 a year to run the registry. If others apply for the same domain, it will go to the highest bidder.

For more information about the application process, check out the  most recent GTLD applicant guidebook.