Originally Posted by Brujah

ICANN, the organization in charge of domain names, is planning a dramatic rewriting of the rules for web addresses that could reduce the overwhelming importance of the .com extension. Under new ICANN rules, groups and organizations will be able to apply for new Internet extensions (the part after the ?dot? in a web address). The new domain extensions are officially called ?new generic top level domains? (new gTLDs).

Consider the opportunities that new domains will offer organizations, businesses, and individual domain owners, as well as end-users. Registering a .green domain for your brand sends the unmistakable signal that your company is dedicated to preserving the environment. New eCommerce organizations are assured of data security with a .secure domain for their checkout processes. And new musicians can launch their careers with .music domains.

We estimate that the first group of new gTLDs ("first round") will be available by October 2012.

source: Sedo newsletter