The Internet Corporation for Assigned Names and Numbers (ICANN), a quasi-governmental agency that oversees the Internet, officially announced in 2011 that it would be expanding the Internet, perhaps exponentially. Because many believed that all of the good dot-com names were taken, ICANN established a process for companies to apply for new top-level domains (TLDs), the string of letters or numbers to the right of the dot.
Before most of the world started paying attention to this expansion of the Internet, some very technologically savvy companies were brainstorming ways to invest in Internet expansion. The most obvious investment was to own the next big TLD and sell millions of domain names to people and companies that wanted to own a domain name ending in the new TLD. For example, accident.attorney or bankruptcy.lawyer. Another moneymaking strategy was a bit more under the radar.
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