The greatest Internet landgrab in history

Frank Schilling made his fortune in the aftermath of the dot-com bust, buying up thousands of domain names others didn't want. He kept at it, aggressively building a portfolio of more than 320,000 domains that, through a combination of ads and outright sales, have made Schilling a decamillionaire many times over.
Now the 43-year-old domainer is going after what he sees as a far bigger opportunity. He's put up $60 million of his own money to stake his claim on a giant, emerging piece of the Internet -- the opening up of so-called generic top-level domains, or gTLDs, to include pretty much anything. The king of all domain extensions -- .com -- is under attack as never before.
"This is absolutely the future," says Schilling, whose new venture, Uniregistry.com, has applied to run 54 new top-level-domains. "We're at this point where the dot-com name space -- the entire name space -- is exhausted."
It's a massive, six-year-long undertaking that has the potential to radically reshape the landscape of the Internet. By the end of the year, we could begin to see companies branding things very differently. Canon has said it plans to ditch Canon.com in favor of using .Canon. Google could use Movies.YouTube. And you, dear frustrated domain-buying consumer, could eventually find it a whole lot easier to register a domain name you want without having to pay fat prices that Schilling and his ilk demand on the aftermarket.

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