After a 14-year hiatus, the Internet Corporation for Assigned Names and Numbers (ICANN) has reopened applications for new generic top-level domains (gTLDs), marking a significant moment in the evolution of the internet’s addressing system. The application window, which closes on August 12, invites businesses, communities and institutions to stake their claim in the digital namespace—provided they can afford the $227,000 entry fee.

The move revives a process last undertaken in 2012, when ICANN received nearly 2,000 applications and ultimately delegated more than 1,200 new domains. That round dramatically expanded the internet beyond familiar suffixes such as .com and .org, enabling everything from corporate-branded domains to more novel—and sometimes controversial—extensions like .sucks.

Rule changes: This year’s round builds on that legacy but introduces notable changes. Most significantly, applicants will no longer be able to negotiate private deals or partnerships after submissions are revealed. This adjustment is likely to curb the speculative bidding wars and behind-the-scenes settlements that characterized the previous process, potentially favoring more strategic and well-prepared applicants.

ICANN’s ambitions extend beyond mere commercial opportunity. The organization frames the initiative as part of a broader effort to foster a more inclusive and multilingual internet. Applications can be submitted in 27 different scripts, reflecting the growing importance of non-Latin alphabets as billions of new users come online. In theory, this could enable more culturally and linguistically relevant digital identities, particularly in emerging markets.

Origins: The domain name system itself has humble origins. In the 1980s, early internet architects proposed a handful of general-purpose domains—such as .com, .edu and .gov—to organize a rapidly expanding network. Over time, governance of this system fell to ICANN, which has periodically introduced new domains to accommodate growth and innovation. Yet the long gap since the last application round has left pent-up demand, even as questions linger about the commercial viability of many newer domains.

Indeed, not all gTLDs have thrived. While some companies embraced branded domains as a way to control their online presence, others found limited consumer uptake. Some extensions became defensive purchases, with firms registering domains primarily to prevent misuse rather than to actively deploy them.

The high entry cost in the current round suggests that applicants will need both deep pockets and clear strategic intent. Beyond the application fee, legal, technical and operational expenses can quickly mount, and the evaluation process itself may stretch for years, with final decisions potentially not arriving until the end of the decade.