For anyone that's ever tried to register a domain for a website and found out the hard way that all the good domain names have already been taken (looong ago) this day has been a long time coming.
ICANN to the Rescue
ICANN The Internet Corporation for Assigned Names and Numbers which oversees domain names states the reason for the new domain names as follows: "The New generic Top-Level Domain Program was developed to increase competition and choice in the domain name space." And we couldn't agree more and say it's about time. For more information on the program visit ICANN's page here.
There are now over 63 new domain names available with hundreds more on the way, possibly as much as 1,900 on the way as of writing this article. WOOHOO! Let me illustrate my point below:
We are all familiar with the usual suspects, the good old .com, .net, .org etc. and a few newer ones have made their presence know over the years like .biz, .mobi, etc. and with so few choices and so many billions of people and websites the choice was slim. Let's say you had a florist shop called e.g. Lucy's Florist and wanted a good domain name for your business and heard about the internet (and wanted a piece of that lucrative pie) you were out of luck finding a short and sweet succinct domain name like www.LucysFlorist.com as they were most likely all taken years ago by the early adopters. You had to settle for a a long less specific and easy to spell like www.lucysflowershopnewyork.com.
Now that's a thing of the past, there are a myriad of choices like lucysflowers.company or .shop or .service .gift etc and if you want to be even more specific there is a .florist extension which is absolutely industry specific.
The early bird catches the worm
Having said all the lovely things above, I don't recommend you sitting around on your laurels thinking there is enough for everyone, I think it's prudent if you have a business or organisation in need of a new domain name to keep an eye on the new domain choices and register your dream domain as soon as possible.
If you are looking for a new domain name there are thousands of web hosting companies offering the new domain extensions, find a reputable business and get yours registered. As of writing this article Red Hippo is already offering 63 New Top Level Domains for registration.