Did you get your first choice for your website domain?
Do you want to protect your brand?
Do you want a more creative domain name?
If you said yes, today there is good news! ICANN (Internet Corporation for Assigned Names and Numbers) has started rolling out their new options for top level domains (TLD)! Top level domains used to be limited to .com, .net, and a handful of others, but there are now more than 130 top level domains to chose from including .camera, .yoga, or .guru with more being added weekly!
Once a TLD is approved, anyone can purchase sites using these domain names through the same registry that you already use! If you really want a TLD that hasn't been approved yet, you can submit an application. Requesting a TLD that has not been approved is not cheap. ICANN's site lists an estimate of $185,000 in total costs with a $5,000 deposit. I think I'll choose from the ones available!
ICANN has extensive resource materials including a risk/benefit section where I found this awesome quote:
Uncharted territory. You will be pioneering on the cutting edge of technological innovation in a relatively new sector. You may have to find your way without other applicable business models for guidance.