As the Internet has expanded over the years, we’ve noticed more .net, .gov and .edu web addresses popping up. At first, it was just to distinguish government, and educational institutions and for the .net addresses, allow businesses to gain access to a similar domain to a .com site that had already been taken. At this point, unless you want a very random and probably completely impossible to remember .com, you’re not going to be getting a .com.
The next step is for the Internet Corporation for Assigned Names and Numbers, or ICANN, to review the more than 1,400 proposals they announced yesterday. It was $180,000 to submit an application for a new domain. According to ICANN, the most sought after new Internet domains are .app, .home, .inc, and .art.
What many people have failed to realize at this stage of the game is that buying these could make you very, very rich if you choose wisely. CBS News spoke to Mr. George Minardos who runs his own construction company in California. “Minardos has spent $1 million trying to buy three new Internet domains: dot-build, dot-construction, and dot-expert. He would use the web addresses for his business, but also sell them to other builders. He says he hopes to make lots of money doing so.” (Original article here.)
You can also rack up a lot of debt trying to beat out your competitors. If you are the only one to bid on a name, you’re in luck. However, if there are multiple bids, ICANN will be holding an auction for that name.
Some of the high profile domains being sought after? Apple is requesting .apple, Google applied for 99 different names, like .fun and .youtube and the CBS Corporation is hoping for .cbs.
Are you looking to snatch up one of these new domains? Tell us why or why not in the comments below.