Similarly, as the initial prices for most domains lie in the $50-$500 range, it makes sense for small businesses to consider the new domain names being made available -- such as bopshop.fashion for an independent fashion label, or javastreet.coffee for a local coffee roaster.
However there will also be restrictions when it comes to who can register for new the domains. In most cases, some domain names are closed off because they are brand extensions such as .ford or .axa. Others will be restricted to specific communities, or those businesses or organisations that meet certain criteria e.g. with .bank.
On the other hand, there will be open domains free for anyone to buy, and there are a variety of business models outlined by the owners of these domains -- ranging from cheap mass-market domains to more expensive and more exclusive domains where the inventory is more closely controlled. A list of the domains and the order they are being released can be found on ICANN's website.
Preparation key for big brands
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Given these rules, it is not surprising that big business have been preparing for the launch of the new domain names, including obtaining their own domain names, such as .apple, .google and .microsoft to protect their intellectual property.
As the internet continues to develop, and increasingly become businesses' largest source of new customers, the approach of having more than just one domain will evolve. A music service provider such as Spotify may want to create communities within its core audience and look to secure spotify.music, spotify.africa, and spotify.global for this purpose.
Regardless of whether you are a big or small business, established or emerging, the release of the new domains will change the landscape of the internet and affect the way consumers interact with brands online. For the businesses ready and willing to act, rewards have the potential to be enormous.
The Rolf Larsen, is CEO and founder of dot GLOBAL and a pioneer of internet access, domain name registrar and web-hosting services in Europe.
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