Do you mean a service where you can "sell" rights to subdomains? This would be interesting. Does anyone know if you need ICANN's blessing to do this?
markn26, no you don't need ICANN's permission. They are only suppliable for domains themselves, not sub-domains. However, since you "lease" domains from ICANN and you don't technically owe them, they could shut down your site at any time without prior notice. So, if you are making a lot of money you are probably going to give a commission to ICANN. They make enough money as it, $0.20 per domain registration - they are already billionaires.
bump I join to the petition for the co.cc, tk, uni.cc domain manager script. I search in Internet but the scripts found are very primitive or don't works.
co.NR is a redirection website, the script used is by co.NR is a free script, not a clone, co.NR has no DNS like co.CC