From the site:
"Tuvalu's sinking, but its domain is on solid ground
...
...
Now, that brings up a question: What happens to a domain if a nation disappears?
VeriSign spokesman Tom Galvin tells me that a defunct country's Internet domain lives on. For instance, you can still find addresses on .su ? the domain for the Soviet Union."
http://www.usatoday.com/money/indust...7-tuvalu_x.htm