ICANN, the Internet Corporation for Assigned Names and Numbers, has approved a plan for the release of a variety of new domain names. Currently, there are 22 generic top-level domains (gTLDs), however after today, domains will be available in almost any word in any language. Branded domains will also be available for the creative marketers out there, but at a hefty price. Applicants will have to pay a $185,000 evaluation fee, with $5,000 upfront.
According the Verisign, 4.5 million domain names were added to the Internet in the first quarter of 2011. How many more domains will be added to the Internet in the months and years to come? ICANN expects to begin publicizing the coming change in the domain name system shortly and to accept applications starting January 12, 2012.