ICANN is establishing a forum on allocation methods for single character ([A-Z0-9]) second level registrations in the gTLDs.

There are 16 gTLDs that have single character registrations restricted, of which .COM, .NET, and .ORG have only six registrations within that predated the rule to establish the restriction (q.com – Qwest, x.com – Paypal, z.com – Nissan, i.net – Oxide, q.net – Q Networks, and x.org – X Windows open source).

 The net result of the current process could allow for a thundering herd of registrants clamoring for these domain registrations, or there could be an auction process introduced to accomodate the process, should there be a change from the status quo.

More here at ICANN’s Website