The ICANN or International Corporation for Assigned Names and Numbers is a non-profit organization that is responsible for managing the domain name system as well as allocating and distributing IP addresses.
All official domain registrars have to be registered and approved by the ICANN. ICANN does not directly issue domains. Instead, it authorizes domain registrars to sell domains to its customers.
The ICANN also distributes IP addresses. Instead of assigning each and every IP address to every device, the ICANN assigns blocks (sections/groups) of IP addresses to different organizations such as Internet Service Providers, cities, companies and other organizations.