ICANN's Board of Directors has concluded that the Nu Dot Co and Verisign agreement for the .web top-level domain name did not break any rules.
(https://domainnamewire.com/wp-content/dot-web-image.png)
The backstory is that Nu Dot Co won the .web domain name auction for $135 million. Prior to the auction, Verisign agreed to finance the auction for Nu Dot Co in exchange for ownership of the .web domain. Afilias, the runner-up bidder, complained about this deal and filed for an Independent Review.
ICANN was told to determine whether the deal violated new TLD rules. ICANN finally concluded that neither side broke the rules and that they should proceed with processing the .web application.
ICANN also noted that many other applicants had similar agreements involving post-delegation transfers of domains and that Verisign's deal became public because it is a publicly traded company.
However, no ruling was made on whether Altanovo violated auction blackout rules as it was not deemed necessary at the time. As for whether Verisign will start offering .web domain names, that depends on Altanovo's decision as they have threatened to continue their legal fight. The Board also resolved that the applicant rules for the next round of top-level domains should clarify the validity of such agreements.
Nu Dot Co, a company backed by Verisign, applied to obtain the rights to operate the .web top-level domain (TLD). However, another company called Donuts also applied for the same TLD. This resulted in a legal and procedural battle, with both companies vying for control over .web.
After several years of litigation and controversy, ICANN finally ruled in favor of Nu Dot Co. They agreed to allow the processing of Nu Dot Co's .web application, effectively giving them the rights to operate the TLD.
It is worth noting that this decision by ICANN sparked further debates and criticism from various industry players. Some argued that the process lacked transparency, while others questioned the motives behind ICANN's decision.
Since ICANN's decision to allow the processing of Nu Dot Co's .web application, there have been ongoing developments related to the management and use of the domain.
Nu Dot Co is expected to operate the .web TLD as a generic top-level domain (gTLD), similar to .com or .org. This means that individuals and organizations will be able to register and use domain names ending with .web for their websites and online services.
The introduction of new gTLDs like .web offers more options and flexibility for businesses, individuals, and communities to establish their online presence. It can provide a fresh and memorable alternative to existing domain extensions.
However, the full impact of the .web TLD on the internet landscape is yet to be seen. It will depend on how effectively Nu Dot Co promotes and manages the domain, as well as the demand for .web domain registrations from users worldwide.
It's worth mentioning that the expansion of new gTLDs has led to increased competition among registry operators and registrars. This competition can drive innovation and improve domain registration services and pricing options for consumers.
Overall, the approval of Nu Dot Co's .web application by ICANN signifies the continued evolution and expansion of the internet's domain name system. The future will likely bring further developments and opportunities in the realm of domain names and online branding.