Tuesday, July 8, 2008

Rebirth of Million Dollar Domain Names

New gTLDs - Shaping the Future of the Internet? Yes Advertising going to be costly and limited to the rich adventure! Read On.

Remember those domain names that went on the block like $14 Million for sex.com and thousands of such names that fetched anywhere from $100 to Millions, that you just missed registering 10 years or so ago.

Well don't fret the boom might be back as ICANN has approved a bunch of changes in the laws governing the top level domains such as .com and .uk and the likes.

Under the new plans, domain names can be based on any string of letters, in any script.So you don't have to fight for TLDs like TV. So you can register your last name as a domain and make money selling the sub domains to you relatives on your side of the family tree. But there are some tiny little barriers. You will be able to register a domain based on your own name, for example, as long as they can show a "business plan and technical capacity" do so. And the other thing is it is not going to be cheap, like you and I pay at Godaddy's. The numbers will be in low six figures as ICANN need to recoup the costs of setting up the domain name and the underlying infrastructure creation and management.

I can imagine that there will be influx of domains as companies turn brands into web addresses, while wealthy individuals register their names.

Another proposal which also got approval was to introduce domain names written in Asian, Arabic or other scripts. So those few billions of people who does not understand what we call domain names finally will be able to read and understand them.

"We are opening up a new world and I think this cannot be underestimated," said Roberto Gaetano, a member of the Internet Corporation for Assigned Names and Numbers (Icann).

If you are interested, Please watch the 30 min video of the ICANN meeting.

Sphere: Related Content

No comments: