.web registrars, requirements and history
The .web domain extension is a top level domain that is not yet officially in use. The man who ran the Domain Name System, Jon Postel, came up with the idea to add another domain extension with no restrictions in 1995. The idea was that .com was one of the few top level domain extensions at the time that had no rules or restrictions. Postel wanted to add another domain that would be equally as popular with .web. Unfortunately, it never took and has still not been officially introduced. It remains a prospective domain extension, though.
.web is currently administered by Image Online Design with the intent that it be an extension with no requirements or restrictions. Registrations with the extension .web have been accepted in the past but currently Image Online Design does not appear to be accepting any more registrations. Those who have already registered a .web website are holding onto the name in hopes that it is introduced in the near future. It is still a bit unclear whether or not this will occur.
The goal for .web is to be approved by ICANN and become an official domain extension. There was a chance for approval in the late 1990s when new domain extensions were proposed but they were turned down. They missed out on another opportunity in 2000 but are hopeful that their application will soon be approved as demand increases for non-restricted TLDs. Consumers continue to demand more extensions for the increasing number of sites.