Verisign, a registry for the generic top-level domain .com, has contacted ICANN corporation. Verisign asks ICANN to change the conditions of the contract and allow registration of a single-character domain O.com. According to the contract, one-letter domains are registered by the registry and can't be used by anyone else without ICANN's consent. This rule was adopted because of the fear that creation of single-character domains might cause technical problems and disrupt the stability of the global network. There are only three exceptions: x.com, q.com and z.com, which were registered before the rule became effective.
However, in the last years the prevailing view has been that one-letter domains do not pose threat for Internet stability and their registration in other generic top-level domains is allowed. In this regard, Verisign asks permission to register O.com. The choice is explained by the fact that there is serious and long-standing interest to this domain, according to the company’s representatives. They might be talking about a large American Internet retailer Overstock, which has repeatedly expressed interest in acquiring the domain.
Supposedly, the domain name will be put up for an auction and the entire auction proceedings would go to charity and support of non-profit organizations that provide security for the global network. Verisign itself will only get $7.85 – its fee for the registration of any domain name. However, it’s not so simple: under the conditions of the auction the winner will get the domain for five years. But every annual renewal will cost 5% of the sum paid at the auction. For example, if the domain was purchased for $1 million, then the registration renewal after five years will cost $50 thousand. Moreover, there is every reason to believe that O.com will be sold for much more than $1 million. In addition, many consider Verisign’s initiative to be a “practice run”. If ICANN agrees, then in the near future the registry will try to get permission to register all other one-letter domains in .com zone.
