AOL's Free Web Domains Challenge Registrars Verisign, Web.com and GoDaddy

GoDaddy and 1and1.com not going to like this.

AOL (TWX) is giving away access to new personalized Web domains with its just-launched free service that lets Internet users create personalized e-mail. Addresses can use either the .com or .net domains and AOL will cover the registration cost, and will own the domain. Sign up for the "My eAddress" service can be done at domains.aol.com. Registered users can have as many as 100 addresses at the domain. They get 2 GB of e-mail storage, an address book, and e-mail access from any Web-connected computer.

"Coming soon," according to a spokeswoman, will be the opportunity for people to have their own Web sites at those domains, too. These personal Web sites will be part of the social networking service, AIM Pages, which is now in testing.

Disclosure: I own shares of Time Warner