Wales, who have become a major force in Sevens, could be playing on home turf in 2018.
The Welsh Rugby Union is preparing a bid to host the IRB Rugby World Cup Sevens in Wales in 2018.
Wales, the current World Sevens Champions, will defend the title they won in Dubai four years ago later this month in the 2013 event in Moscow.
The WRU are to bid to host the next showpiece tournament which will take place in five years' time in 2018. The event has been moved to fit in line between the Olympic Games in 2016 and 2020, in the first of which, Rugby Sevens will be instated.
WRU Group Chief Executive, Roger Lewis said: "Major sporting events around the world are so important in defining a country in terms of its culture, its value and its beliefs. The economic benefits of global sporting events for host nations are considerable.
"We have got eight games in the 2015 Rugby World Cup, we are bidding for the European Cup Finals next year and we are preparing a bid for the 2018 IRB Rugby World Cup Sevens to come to Cardiff. The impact of these great rugby occasions will be felt on and off the field.
"We go to Moscow in a few weeks' time as the holders of the Rugby World Cup Sevens which we won in Dubai in 2009 and that will be an amazing event for the Russian capital.
"The eyes of the world will be on Russia and I want to bring that focus to Cardiff and Wales in 2018.
"Rugby sevens has recently grown exponentially across the world and it's going to continue to grow over the coming 10 years and we want the WRU to play a part in encouraging its success.
"We have a great sevens team in Wales, Paul John has done a great job. Sevens has historically been part of our Welsh rugby DNA and its now capturing the imagination of the world.
"I've informed the IRB of our proposal and also the Welsh Government. We have built a reputation for delivering world class events at the WRU with an outstanding team of people - we aim to give our bid the best possible chance of success."
The man entrusted with defending Wales' World Cup crown in Moscow at the end of this month, has welcomed the WRU's decision to bid for the hosting of the 2018 World Cup Sevens tournament.
Wales Team Manager Dai Jenkins guided Wales to a shock triumph four years ago in Dubai where his unheralded side stunned the world to claim title glory as 80-1 outsiders. Jenkins and head coach John are now plotting their defence as this year's tournament rapidly approaches.
The 2018 tournament will include both men's and women's competitions and according to Jenkins there couldn't be a better place to stage the IRB's flagship event.
"The bid is great news for rugby fans not only in Wales, but world-wide," explained Jenkins. "Since its introduction over 10 years ago the IRB's world series has grown into a magnificent event and the World Cup is the pinnacle of the sport.
"To host the 2018 World Cup would be brilliant news for the fans and the players. The Millennium Stadium is a fantastic venue and has already gained a reputation as being the best stadium in the world.
"As a management group we are proud of what the Sevens game has done for Wales. Looking at the British and Irish Lions in Australia, Jamie Roberts, Justin Tipuric and Alex Cuthbert are just three players who have come through and played in the Sevens system here in Wales.
"Out in Japan another three players, Owen Williams and Dafydd Howells both got capped last weekend along with Rhys Patchell who have all played for Wales in Sevens, so it's a proven breeding ground for future Wales internationals. There have now been 26 players in the last seven years, since we re-entered the IRB World Sevens series who have gone on to play senior international rugby for Wales.
"With Sevens featuring in the next Olympics the game is going to grow even further so to have the opportunity of playing the World Cup at your home venue is going to be huge for Wales."
With Liam Williams forced out of the World Cup through injury, lock Luke Charteris and Skills Coach Neil Jenkins say they have to put yesterday's defeat behind them as Wales now look ahead to another physical encounter against South Africa in the quarter-finals of the Rugby World Cup.
Winger Alex Cuthbert is hoping get plenty of ball on the front foot against Australia tomorrow at Twickenham as Wales seek to halt the Wallabies' 10-match winnning streak which stretches back almost seven years.
Twelve young people have been selected to follow a one year WRU Coach Core apprenticeship programme. Coach Core was set up by the Royal Foundation of the Duke and Duchess of Cambridge and Prince Harry as part of the Olympics legacy in 2012 and the Duke of Cambridge was on hand to meet the apprentices on their first day in the job. The programme has been funded by the Hunter Foundation.
We look back on the victory over Fiji that makes it three from three for Wales in this World Cup, in a special extra Principality Welsh Rugby Union Podcast. We hear from Wales coach Warren Gatland, captain Sam Warburton, plus Gethin Jenkins, Tomas Francis, Alun Wyn Jones, Dan Biggar, Matthew Morgan and Tyler Morgan, as well as defence coach Shaun Edwards and getting the Fijian perspective from coach John McKee.
Wales 7s captain Luke Treharne may have only played once on the World Series, but he has full confidence in his side as they prepare for the opening two rounds of this year's series in Dubai and South Africa, as WRU TV's Graeme Gillespie discovers.
We look forward to the Ospreys v Blues derby clash in this week's Principality Welsh Rugby Union Podcast. Ospreys No 8 Dan Baker talks about the pain of missing out on the World Cup, as does Dragons wing Tom Prydie. Blues director of rugby Danny Wilson looks forward to his first Welsh derby in charge, we also hear from Dragons lock Matthew Screech and Wales Sevens team manager Steff Thomas.
Wales 7s Manager Steff Thomas believes Luke Treharne has all the attriubutes to be a top class captain. WRU TV's Graeme Gillespie hears his reasons why as the squad prepare for the opening two legs of the new World Series in Dubai and South Africa.