ICANN Proposes New Way To Buy Top-Level Domains

narramissic writes "Late last week, ICANN put up for comment a new top-level domain (TLD) proposal that would open up the market for generic TLDs on the Internet, basically allowing anyone with $185,000 to buy a new TLD. ICANN has based the cost of a generic TLD on what it believes will be the cost to evaluate applications and protect the organization against risk, said Paul Levins, ICANN's executive officer and vice president for corporate affairs. Any excess money would be redistributed based on the wishes of the Internet community, he said. As of late Tuesday, there were only a couple of comments on the proposal."