As you may or may not be aware, ICANN the Internet Corporation for Assigned Names and Numbers has opted to open the floodgates, and expand the number of potential web addresses available to us online. While mainstays such as .com, .net, and .org will not be directly affected, we’re about to be introduced to a whole new world of domain names. You’ve probably already seen some new TLD’s or top level domains (the word or letters to the right of the dot) such as .Biz, .TV, .XXX and .Me. If you are still unfamiliar with the basics, you can learn a bit about them here. The norm is about to change, prepare to be subjected to hundreds and potentially thousands of new gTLD’s starting within a year.

With the world moving to the internet via computer, TV, or phone, domain names are as becoming more important than ever. Once you own a domain name, all you must do is pay for its renewal each year, and you’ll own it forever. Domain names that receive a lot of traffic are similar to a popular mall or tourist destination; they get access to a lot of visitors, and their wallets as well.

Early-adopters known as domain investors or ‘domainers’ have made a living off of owning premium domain names. Premium generic terms such as credit, jobs, and law reign supreme. Originally based on the core of .com, .org, and .net, the internet is rapidly expanding, creating many more opportunities to own a corner of the web.