ICANN Opens Up Domain Suffixes or gTLDs

This is an announcement that is hugely significant for the future of the web..  If you didn’t know, ICANN is opening up domain suffixes so that companies can buy the part “after the dot.” (ie .coke, .sex., .help., etc.)  This part is known as the “generic Top Level Domain” (gTLD) Read the ICANN announcement here.

I’m still processing this information but the first thing that comes to mind is – how are they going to open up the bidding? How are companies going to compete for this?  Early indications are that ICANN will charge $185K per domain and it seems like it will be a flat rate (so I guess the “little guys” will be shut out of this new venture).

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