The time has come, .NYC officially launches tomorrow. It has been one of the most-anticipated new domain extensions to hit the market and after the success of similar TLDs like .BERLIN, the bar has been set pretty high. Of course, just like physical real estate in NYC, ownership isn’t available to everyone.
Only New York residents and businesses are allowed to buy .NYC, here’s the policy as written on the official .NYC website:
“New York City businesses and organizations with an NYC address and individuals with a primary residence in NYC can register a .nyc domain name.” (Source – OwnIt.NYC)
Of course that doesn’t mean that a ton of people will not slide through using false information or businesses registered in New York specifically for buying domain names. Like most new domain extensions most of the best names will be gone within the first 24-hours, the question is how will those be distributed?
Here’s what startups should know about .NYC
– if you’re not buying domains early on you are going to miss most of the best domains
– with no previous sales to base value, those who buy many names will most-likely price them very high
– acquiring the matching <domain_name>NYC.com is a good idea if you’re planning on having your business reside on a .NYC domain
– high price expectations will most-likely decline over time, don’t let anyone try to convince you that these are going to be $100,000 each ten years from now
– if you can get the domain you want, build on it – the success of a new domain extension over time has a lot to do with how many people use it as the primary domain for their business
– you do have trademark rights, it’s a hassle and you’ll need to file a UDRP, but if someone does register your trademark in the .NYC extension you can hire an awesome domain lawyer to help you get it back
What does this mean for domain names as a whole?
I think Colin Campbell president and CEO of .CLUB Domains, had a great perspective on .NYC and the changes we are seeing in the domain name space:
“The general availability launch of .NYC is a great moment for the domain name space, as it brings an incredible level of awareness and recognition to the exciting new domain name options now coming into play, and changes the way we navigate online forever. Everyone loves New York and the .NYC extension is a great example of how you can now add context and meaning to a domain name by choosing the right extension, whether it be location-specific, like .NYC, or content specific, like .CLUB. Now there are endless possibilities for businesses wanting a great domain name, and a name that also helps consumers understand what to expect and make things easier to find online.” (Source – Colin Campbell, .CLUB)
We are entering a new era, and while I think .COM will always be the most valuable, we don’t all need to drive Ferrari’s do we? Consumers are starting to think of the meaning behind the words that come after the dot. Just remember, everything takes time and this is only the beginning of the brave new domain world we all live in.