Webfusion

I.buz

Neustar, the Registry which manages the .biz extension, earned approval from the ICANN Board of Directors to introduce 1 and 2-character domain names.

According to the plan approved by ICANN, Neustar is now taking specific Requests for Proposal from prospective users. Based upon these requests, selected names may be allocated, while the remaining names will be auctioned to the highest bidder. Neustar is aiming to work with organizations looking to develop professional sites to enhance the profile of the TLD.

Prospective organizations have until July 30 to submit their proposals for 1-character .biz domains and until September 30 for 2-character proposals. The proposals require a deposit of $300 and a commitment to develop the name in a professional capacity. Additionally, Neustar will review applications on a competitive basis, evaluating the marketing and development plans of each organization. The auctions for un-allocated domains are scheduled for August 3 and October 30, respectively, in what should make for some exciting auctions.