What does creating a TLD involve?

Creating a TLD is a significant undertaking. It will essentially involve applying to become the operator of a "Registry" - that is, the database that records all of the domain names registered on a particular TLD. Operating a Registry is both technically and financially demanding, and all prospective Registry operators must submit complex applications for examination by ICANN. Applicants will typically be required to provide projections of the costs, revenues, sources of financing, and sources of risk they anticipate following the creation of their proposed TLDs, as well as detailed technical plans.