To date, we've grown used to a fairly restricted range of generic top-level domains (gTLDs), such as .com, .co.uk, .net and .org. But the body responsible for managing them - the Internet Corporation for Assigned Names and Numbers (Icann) - wants to increase choice and promote innovation.
Owning a top-level domain, he argues, means owning a massively scalable database - a section of the internet itself - which can be harnessed for a multitude of purposes, such as the delivery of personalised products or services, secure verification processes, and industrial applications.
Read MoreSo as businesses like Meantime Brewing Company look forward to the marketing opportunities a new top-level domain presents, others who are not up to speed with developments could be leaving themselves vulnerable on several fronts...