Generic Top Level Domain Names or gTLDs were first implemented in 1985 with the introduction of six names, i.e. .com, .edu, .gov, .mil, .net and .org. Though each of these had a different purpose, .com, .net and .org domain names are now open for any use by anyone.

With new needs, more TLDs were added to the above list latter on. There was no real agency entrusted with the task of administering and implementing TLDs till 1998 when Internet Corporation for Assigned Names and Numbers (ICANN) was formed. From this year onwards, ICANN started to manage the domain names.

After ICANN started controlling domain names, it introduced several new names, i.e. .aero, .biz, .coop, .info, .museum, .name and .pro. All of these names were operational by 2004. With this, the number of Top Level Domain Names (TLDs) has gone up to about 20.

ICANN is into adding a few more names to Top Domain Names list like .cat, .job, .mobi, .post, .tel, .travel and .mail.

Most of the good names from .com, .net and .org categories have already been taken over and are saturated. However, there are still many lucrative names from other TLDs which can be tapped.

Buying and selling of domain names can be a good business. Many people are already making a living from this.

There are also opportunities for buying existing domains and reselling them. Afternic.com is a prominent web site for buying and selling premium domain names.

Anyone who is serious in making money from trading domain names can use sedo.com, dnforum.com or afternic.com. There are many other sites which can be easily found by doing an internet search. One can type words like domain name for sale or sell domain name or purchase domain name etc.

Buying expired domain names can be an interesting occupation for many. One can also try to find brand new names by making a search in the dictionary and keyword tools (like overture or wordtracker).

For expired domain names, one can browse through different categories in DMOZ which is an Open Directory Project (ODP). This is a multilingual open content directory of World Wide Web links.

If one is serious about building a business in buying and selling of domain names, one has to find names which have not been taken yet by doing a keyword research.

After choosing a domain name, one can try it for a few days free of cost and examine the amount of traffic it generates. If traffic is good, the domain name can be quite lucrative. Many times, unsold domain names can be parked somewhere. It will contain affiliate links which can earn one some money. Buying and selling of domain names can be a lucrative business for anyone aspiring to profit from them.