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Intense Push To Grab New Web Domains

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SANTA MONICA, Calif. (CBS NEWS) - The internet is about to change in a big way, because nearly all of the most useful dot-com addresses have been used up. In London on Wednesday, the nonprofit corporation that oversees web addresses put out a list of more than 1,000 potential new domain names.

Getting one of them won’t be easy or cheap.

George Minardos runs a construction company in Santa Monica that builds high-end homes and restaurants. He has his eye on a new piece of property — online. He likens efforts to obtain one of the new domain names to “the great land rush.” Minardos has spent $1 million trying to buy three new internet domains: dot-build, dot-construction, and dot-expert. He would use the web addresses for his business, but also sell them to other builders. He says he hopes to make lots of money doing so.

In all, more than 1,400 proposals for new internet domain names were announced on Wednesday. Each application cost $180,000.

The most sought after are dot-app, dot-home, dot-inc, and dot-art, according to the nonprofit Internet Corporation for Assigned Names and Numbers (ICANN), which oversees Internet addresses and decides which new names will be added. “All the good dot-coms, dot-nets, dot- orgs are taken,” points out CNET Editor at Large Brian Cooley. “So this allows people in a specific, focused area to go get a domain that they like. If you’re a realtor, you might want something-dot-realty.”

If there’s competition, ICANN will auction a name off to the highest bidder.

Tech giant Google went after 99 names, including dot-google, dot-youtube, dot-free and dot-fun. Amazon wants 76, everything from dot-author to dot-movie and dot-song. Apple applied for just one — dot-apple.

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