Have you ever tried to get that perfect domain name only to find out that it is taken and everything close to it is taken as well.  There is limited real estate on the web, due to the fact that there are only 21 top level domain names such as .com, .org, .net, etc..  However, everyone will tell you that .com is the most recognizable, and therefore the only way to go.  Well an announcement this week from ICANN the governing body for domain names is about to open up a whole bunch of ocean front real estate when it comes to domain names.  Here is a quote from the article.

"This proposal allows applicants for new names to self-select their domain name so that choices are most appropriate for their customers or potentially the most marketable. It is expected that applicants will apply for targeted community strings such as (the existing) .travel for the travel industry and .cat for the Catalan community (as well as generic strings like .brandname or .yournamehere). There are already interested consortiums wanting to establish city-based top level domain, like .nyc (for New York City), .berlin and .paris."

What does this mean, there could be unlimited top level domain names.  Like say .mac, .home, .church, .company, .consultant.....  You get the picture.  Up to 28 characters.  I think there will be the natural explosion and then people will congregate around the most recognizeable domain extensions.  I use the real estate metaphor because it really applies in a lot of ways to domain names.  If someone comes up with a great domain extension, it won't be long before other recognize it, and begin to build next door.  My 2 cents, .com will remain the most precious of commodities, because it was first and the most recognizeable.  Check out the article here..  Article Here [1]