The group that controls how and what domain names get registered (ICANN) has decided to allow the creation of an entirely new group of top level domain (TLD) names. This process may create TLDs such as .nyc, .food, and .deals. The potential is exciting. A creative person could get a lot of mileage out of .ion. For instance attorneys might like http://www.litigat.ion/ and off-roaders might enjoy http://www.tract.ion/.
You could waste many hours thinking up new combinations of words and partial words and new TLDs.
Will or should any of these changes matter to your selection of a domain name in the first place? I doubt it. First, the new TLDs are not yet available. Second, there will be an auction process to give someone ownership of each new TLD and the prices are expected to run over seven figures. Most of all, though, people will still think of .com as the most likely domain name when they go looking. If you're not at a .com domain, the chances of a user finding your site diminishes.
Someday these new TLDs may gain the upper hand in name recognition, but for the foreseeable future .com remains your best bet.
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