Could new gTLDs actually make .com obsolete when it comes to domain names?
CNN.com recently published an article that went in-depth about the history of .com and how it was instrumental in shaping the internet. The TLD (top-level domain) .com has been around for 30 years now and its impact can’t be ignored. Many of today’s millionaires actually made their wealth by purchasing a .com domain name for their business. A famous hacker even changed his last name to dot-com. But could the internet be evolving to the point that we will throw aside .com for good? Where will .com be in 50 years?
There are over 115 million .com web addresses currently registered in the world, a number that is increasing every single second. This huge array of addresses accounts for about 42 percent of all the domain names registered on the internet. It’s safe to say that the majority of the websites you visit have this particular extension.
This should come as no surprise considering the popularity of .com domain names. In fact, 100 percent of Fortune 500 companies use a .com TLD to highlight their presence on the web. On a list of the 20 most expensive domain names ever sold, every single one had a .com TLD.
If .com is by far the most popular and most targeted domain name, why are we suggesting that it may become overlooked in the future?
ICANN, the internet’s domain name regulator, continues to release more and more TLD options. Since it began in 2013, ICANN has expanded the domain name market with hundreds of new gTLDS (gTLD simply means generic Top Level Domain). Before ICANN released so many new gTLDS, you could choose between .com, .net, .org, .biz and a couple of other options. Now ICANN has a continually growing list of hundreds of new gTLDs, such as .money, .discount, .work and many more.
The primary reason behind the huge growth in domain name options is that it’s difficult for an aspiring business to find an available domain that is synonymous with its brand name. With these new gTLDs coming out at a rapid pace, almost any business can find a relevant domain name that will fit with its industry.
However, there are skeptics. Verisign, the authoritative registry for .com, doesn’t believe that .com is going anywhere. Danny McPherson, Verisign’s Chief Security Officer explained that the average character length of a domain name is 13 characters, a figure that has remained constant for five years. There are 2.5 billion six-character domains left and close to 66 million five-character .com domains left. In other words, there is plenty of growth for the sought-after .com.
For the most part people are open to the change in domain names. The future looks bright for the domain name industry as more and more options are being made available. ICANN doesn’t appear to have any plans to stop the rate of new domain names; over 25 new gTLDs have already been announced this month (March 2015).
Businesses outside of the US and UK are particularly excited about new gTLDs, especially true among smaller companies. Having a unique gTLD can differentiate these smaller businesses, allowing them to capitalize on their brand and eventually leading to more visits to their websites.
Ben Crawford, chief executive of domain name registry CentralNic, said, “The change occurring to the internet is profound and exciting. It’s like the only beverage available for thirty years was water, and now suddenly there are exotic fruit juices, champagnes and single malts”.
Here at Resell.biz we believe it’s safe to say that .com is here to stay for a while. However, the newly available gTLDs becoming available perform quite well. Even though .com is still the clear leader when it comes to domain names, new gTLDs are making some noise.
Some predict that .com may become obsolete in 50 years. Whether that’s true or not, you can safely rely on .com for now.
Take a look at the hundreds of gTLDs that you can resell at Resell.biz.