… well if you do, you may be interested to know that ICANN has just voted to allow the setup of ‘generic top level domains’ (or gTLDs for short) by anyone with this much money burning a hole in their back pocket.

The announcement marks the biggest change to the system in over 25 years; as until now only ICANN themselves have been able to specify new top level domains.

Top level domains are the suffixes that go on the end of web addresses, i.e. ‘.com’, ‘.org’, or more recently ‘.info’ and ‘.coop’. The change means that ICANN will start accepting applications for new gTLDs, the first in line being cities and major corporations – the option is there however to create generic ones such as ‘.phone’ or  ‘.green’, opening very interesting avenues for online marketing – if you’re prepared to outbid others trying to register the same gTLD of course.

It also means that the likelihood of domains such as www.insure.com going for $16m will be pretty low in the future.