ICANN: Newly available web address a whole new ballgame? CrossView recommends you wait and see.
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As of January 12th, the international organization that allocates top level domain names for websites (ICANN) has expanded the number of valid suffixes for website domain names.
Under the expanded program, addresses can end in almost any word and any language, including domain names written in native character sets such as Chinese, Arabic and Greek. In the near future, you could begin seeing web domain suffixes such as .retail, .buy, .deal.
ICANN has implemented a new “blind” system to apply for the new domains and has set a very high price tag. While the price isn’t fully disclosed, it is estimated to exceed $185,000 per address. Clearly, ICANN is hoping to leverage the rapid growth of e-commerce sites and the strong desire to protect brands, to drive significant new revenue.