BSteng.com

Well today ICANN, (Internet Corporation for Assigned Names and Numbers) the group that is in charge of all domain names like example.com, .net, .org has unanimously voted to offer Top Level domains for sale. So you may ask what does this mean? It means the internet could be made bigger and smaller at the same time. Some examples they provide are .paris and .nyc or like .microsoft instead of there current selection of 21different TLDs.  There is a little kink though. They will be charging anywhere from $100,000 to a half a million dollars per year for them compared to the $7-$8 for a regular .com. However the decision today is just the beginning and it is scheduled for some time in 2009 that they will actually nail down all the rules and regulations for them.

Sources:

http://www.icann.org/en/announcements/announcement-4-26jun08-en.htm