End of dot com Era Begins ICANN Approves New Generic Top Level Domain Suffixes gTLD Program End of dot com Era Begins: ICANN Approves New Generic Top Level Domain Suffixes (gTLD) Program

SINGAPORE (Dow Jones)-The ICANN Board (LA-based Internet Corporation for Names and Numbers) has voted to approve the new gTLD program to a standing ovation of all in attendance where new rules for generic top-level domains are agreed upon. Voting took place  on the first day of the ICANN meeting in Singapore which now allows for the application of hundreds of new domain names.

Launched in 2000, ICANN has continued to add 14 new top-level domains, including .biz, .info and .jobs. Few of the new names have caught on with generic-specific websites but .com still remains the standardized and most pursued after suffix in the cyber world.

Applications for the first round will open on January 12, 2012 and will close on April 12, 2012 however the new gTLD’s will not be online until November 2013.

According to the media briefing of ICANN Chief Executive Rod Beckstrom,

This may be the dawn of a new age of online innovation in the domain name space….the Internet’s addressing system has just been opened up to the limitless possibilities of human imagination and creativity.

According to ICANN,

A top-level domain name of up to 63 characters of just about any string of letters or numbers can be registered ICANN said. For instance, someone could turn "asknotwhatyourcountrycandoforyouaskwhatyoucandoforyourcountry" into a domain.

The new system will expand popular domains such as .com, .net and .org to include new brand, generic and geographical domain name extensions. It would be possible to have domain names such as .london, .writer, .games and .hotel.

The application fee for a new domain name suffix is available at a steep priced of $185,000. where winners are required to pay a fee of $25,000 annually as well.

According the the rules applications from individuals or sole proprietorships will not be considered and only established corporations, organizations and institutions in good standing are eligible to apply for a new generic top-level-domain (gTLD).