A .nyc top-level domain name, which the city has applied for, could be a cash cow: It would share revenues with the Virginia-based company that would operate the domain. The Times:
The company would pay the upfront costs, and the city would get a share of revenue; under the five-year contract, it is guaranteed at least $3.6 million. London, Berlin, Paris, and Barcelona have said that they will also seek domains, but Rachel Sterne, the city’s chief digital officer, said she believed New York City was the only major city in the United States to be pursuing one.
As Gilt Groupe's CEO explained to the paper, “Would I buy kevinryan.nyc? Yes. Would every business do it? Yes." (Kevin Ryan either has a big ego or a tiny antecedent problem.)