In the words of ICANN:
gTLD stands for generic top-level domain and is the technical term for the suffixes – extension of three or more characters like dot-com, dot-org or dot-info – which appear at the end of Internet addresses. They are part of the structure that forms the Internet’s global addressing system, or domain name system (DNS), and are used to route traffic through the Internet. Since ICANN was founded, one of its core principles has been to promote competition in the domain name marketplace while ensuring Internet security and stability. The expansion of gTLDs is expected to allow for more innovation, choice and change to the Internet’s addressing system. This is a complex and involved process……In a world with over 1.6 billion Internet users – and growing – diversity, choice and competition are essential to the continued success and reach of the global network.
The program is expected to provide Internet users with new opportunities for creating digital identities… Brand holders and organizations seeking to manage their own name as a top-level domain may have an interest in securing these rights in the early phases of the new gTLD program for future branding purposes. With the limited availability of .com domain names, some companies may opt to become early adopters of new TLDs to satisfy their marketing needs. There will also be opportunities to apply for community and geographic top-level domains, such as .blog, .brand, and .city.
See: http://www.icann.org/en/topics/new-gtlds/program-en.htm
The new gTLD programme will revolutionise the presentation of brands on the internet. It promises change on a scale not seen since .com was opened to commercial use. Early adopters will rise above their competitors as internet users type their names straight into the browser or find them at the top of the search engine listings. In time, a corporation with a .com email or web address will look as old fashioned as one with an AOL account does today.
A Brand TLD promises new opportunities to engage with your client base: affiliate email addresses for your customers or suppliers directly under your brand; an ecosystem of social networks and websites which feature your brand in the browser; domain names given or sold to whoever you want for as much and as long as you want; a secure registry in a jurisdiction of your choice with infringers locked out, at arms’ length from government interference.
Your own brand gTLD will be an investment that demonstrates confidence and vision. It will lift you above your competitors, placing your trade mark in the browser as the foundation for all the challenges and benefits of Web 2.0 and beyond.
For ICANN to award you your own gTLD “franchise”, you need to pass a stringent evaluation process that we anticipate will open in the second half of 2010. You ability to operate a registry that is connected to the World Root of the Internet will be assessed on financial, technical and operational grounds. The character string that you select will be open to challenge. Your polices will be evaluated to ensure the rights of others will not be infringed.
We have the resources and experience to help you mount a successful application and to run a state-of-art registry that is secure and stable whether you want to apply in the first application round which we expect will open in the second half of 2010 or a subsequent round.
The Internet has historically thrived whenever the system is opened up further to allow users to express their creativity and innovation. We are now working on opening up the top-level domains so that not only nations but also other peoples as well as businesses large and small can have a unique identity on the Internet. The original limitations on domain names had to do with the limited capabilities of computers and networks in decades gone by. Given today’s advances in power, bandwidth and memory, the time has clearly come to open up the myriad possibilities in Internet naming.
Rod Beckstrom, ICANN CEO & President, 21 July 2009
See the ICANN new gTLD factsheet at http://www.icann.org/en/topics/new-gtlds/factsheet-new-gtld-program-oct09-en.pdf