Photo by www.anna-OM-line.comDo you own a .com, .net, or .org domain name? You’ll soon have the opportunity to buy .blog, .author, .fabulouscompany, or .whateveryouwant.

The group that controls Internet addresses, ICANN (the Internet Corporation for Assigned Names and Numbers), decided that any company, organization, or country will be able to apply for a new Web address extension in early 2009.

Will this new development create mass chaos in cyberspace, as Web surfers struggle to remember what comes after the dot when they’re searching for a particular site? Or do most people already Google everything they’re searching for, so the .whatever doesn’t really matter?

Will it result in an onslaught of lawsuits, as companies that own trademarks scramble to be the first to snap up their trademarked name? Could be; although ICANN officials say that companies will have first priority at claiming their own brand names. Applications will go through an independent review process, and multiple parties who want the same domain can bid for it in an auction.

And finally, third parties will be able to challenge particular extension names on the grounds that they could threaten “morality and public order.” Ahem. We certainly wouldn’t want to encounter any disorder or immorality in cyberspace.

As you probably suspected, there are a few caveats to this new system. First: cost. The new top-level domains will likely start in the low six figures. That means a minimum of $100,000, if I’m counting on my fingers correctly. Yikes! I don’t think I’ll be in the market for a new address extension anytime soon.
It seems as if two entities, in particular, stand to line their pockets with solid gold next year:

  1. The people who buy tons of domain names and resell them for astronomical profit.
  2. Companies that sell domain names (does GoDaddy.com sell stock? If so, I’m buying some!)

So, what does your gut say about this new development? Thumbs up or thumbs down? Cast your vote!

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