The capital’s official promotional organisation was given the green light last Friday (7 June) to develop the new domain by the Internet Corporation for Assigned Names and Numbers (ICANN).
This will give London-based event organisations and venues the opportunity to register .london names, including websites and email addresses.
London & Partners said profits from the sale of the .london name will be invested back into the city.
Mayor of London, Boris Johnson, said: "Acquiring the .london online suffix is an exciting way we can reinforce our position as a world-leading digital innovator. Using this virtual moniker will offer the ultimate association with the greatest city on earth, which in turn will generate a valuable revenue stream to invest back into London.
"This is an important first step and we will now be developing detailed plans to ensure we maximise the opportunities this project presents."
London & Partners will be working with the Mayor’s office to develop a detailed policy on the management of the domain, which currently has a working title of Dot London.
This will include continuing consultations with a range of key stakeholders such as London First, Federation of Small Businesses, Transport for London and London boroughs.
Gordon Innes, chief executive of London & Partners, said: "The Dot London project brings variety and choice to the domain name market around one of the most famous city names in the world.
"We will be working hard with our partners in the months ahead to create opportunities for London and Londoners, and ensure a successful launch of the new domain."
London & Partners has set up a subsidiary, Dot London Domains, to operate the new registry, and is working in partnership with web-domain company Minds + Machines to set up and operate the domain.
The organisation has said for those interested in receiving news and information about Dot London can visit www.mydotlondon.com.
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