From the “Why didn’t I think of this?” files:
Equestria NIC (EqNIC for short) is a domain name registry which will soon permit Pony fans everywhere to host a domain of their choice in the magic land of Equestria, under the .eq country-code Top-Level Domain. Through a generous grant by Princess Celestia herself, domain names in .eq will be free of charge.
Regretfully, Equestria was denied acceptance into the ISO, which allocates country codes (we understand that the laughter at our letter was raucous and relentless); therefore, .eq is unable to be a part of the ICANN DNS root most users access already. Fortunately, we are applying to the OpenNIC alternate root, who are substantially more likely to accept our proposal. In order to access .eq sites, users will need to change the DNS resolvers their network devices use, which will allow them to access both ICANN domains — meaning that every site which worked before the change will work afterwards — and OpenNIC domains, of which .eq will be one. This will only need to be done once per device, and new programs are being developed to make this as easy as a point and a click.
The ISO 3166-1 list, if you ask me, already contains countries of arguable existence, and as Jon Postel noted in RFC 1591: “The IANA is not in the business of deciding what is and what is not a country.”
I’d bet several bits that the first actual domain will be DerpyHooves.eq.