.Com domain names may see an increase in prices

ICANN and Verisign are working on a new agreement that may raise the price of domains ending with .com.

According to domain registrar company Namecheap, the Internet Corporation for Assigned Names and Numbers (ICANN) has given Verisign permission to increase the price of .com domains. As per the agreement, Verisign would charge domain registrars 7% more for websites ending with .com for the next four years (2020 – 2024).

It is also established that Verisign would halt the price increase for 2 years and resume the increment between 2026 and 2029.

Simply put, the price of .com domains would cost around 70 percent more than their current price.

What about site owners?

As of yet, the increase in price is limited to domain registrars and we are not sure if it would be passed along to consumers in the near future. However, it is presumed that the price of .com domains can increase by around 7% every year.

Interestingly, other domains would not be affected by the change in pricing. But .com domains are the most popular as well as the most used. In fact, Namecheap says that out of 359.8 million total domain names – 144 million are .com.

On the contrary, Namecheap blames ICANN and Verisign to make changes in pricing without taking feedback from the public. However, ICANN has opened its public comment form where internet users can register their responses to the change. The feedback form is open until February 14.

Of course, it is not ascertained whether the feedback would have any impact on the agreement between ICANN and Verisign but if you disagree with the new terms and conditions, you can also provide feedback here.

.Com domain names may see an increase in prices
Photo: Gettyimages

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