ICANN has given final approval to allow the expansion of new Top-Level Domains (TLDs) which would allow organizations to apply for generic TLDs like .SPORTS or .BANK. ICANN anticipates between 300 and 1,000 new TLDs created by the new program. Companies looking to further brand themselves may apply for a “.BRAND.” Such is the case with Canon who has publicly stated that they will be applying for ‘.canon’. Applications to apply for a new TLD will be accepted from January 12, 2012 to April 12, 2012. Application fees cost $185,000 for each TLD you apply for.

“Today’s decision will usher in a new Internet age,” said Peter Dengate Thrush, Chairman of ICANN’s Board of Directors. “We have provided a platform for creativity and inspiration, and for the next big dot-thing.”

ICANN New TLDS Infographic

[via: CircleID]