ICANN has finally launched the controversial New generic Top-Level Domains.
This means that now anyone can apply and get access to a brand new top level domain of their choice provided it is available and they have the money.
ICANN spoke about this new initiative:
The decision to apply for a new gTLD should not be entered into lightly. Applying to run your own gTLD is not the same as registering a second-level domain name. When you apply for a new gTLD you are applying to run a registry business. You will be responsible for a critical and highly visible piece of Internet infrastructure. Just as Verisign is responsible for all the domain names registered in the .com top-level domain, so you would be responsible for all the domain names registered in your .something gTLD.
While operating a top-level domain registry offers exciting opportunities and rewards, it carries great responsibilities as well. The purpose of this brief is to help prospective applicants evaluate the new gTLD program by considering the benefits as well as the risks and responsibilities.
Remains to be seen when we would see these new domain types arrive in the market. It would be interesting to see if companies like Google and Microsoft adopt them for their own service. This new service would allow Google to operate Gmail through something like mail.google and so on!