Most valuable Domain extensions: is .eth the next .com?

Most valuable Domain extensions: is .eth the next .com?

What are Web domain extensions?

In the beginning, domains were created as an alternative to the convoluted and nearly forgettable process of entering a string of digits to access a website. Nowadays, domains are a must for exploring the internet, providing us with a simple method to remember our favorite websites by typing the domain name into a browser’s address bar. There even exist most valuable domain extensions because of their significance even in branding

Web addresses are formatted using a predetermined pattern. Internet users may access the websites they want to without having to input lengthy IP addresses since “cloudname.com” is much easier to remember than a string of digits. Name resolution via DNS assures this. A URL is hierarchically organized in order to do this translation. First, look for the subdomain (after “https://”) on the far left, which is typically www but may also contain “blog” or different language versions (es or en). The domain name that follows has been freely selected. The top-level domain, or domain extension, completes the address.

TLD categories

There are three categories of Top-level domains (TLDs): those that are country-specific (ccTLDs), such as .us for the USA, those that are generic (gTLDs), such as .org, and lastly sponsored (sTLDs), such as .edu for educational institutions. TLDs are (for the most part) handled by ICANN or IANA globally.

While there are now many distinct domain extensions and users create new top-level domains all the time, certain TLDs are more well-liked than others. Due to this, there is a booming domain market where domains may fetch high prices. You’ll also need to consider your budget while selecting the ideal domain.

Cloudname can help you identify just about any domain extension, but not all of them are equal or meets your needs. When selecting the appropriate extension for your website, it is useful to be aware of the distinctions between domain extensions like .com and .org, etc.

The most valuable domain extensions

As a top-level domain or TLD, the majority of users automatically select .com. Obviously, the domain .com is extremely well-liked; 150 million .com domains have been registered under this domain.

However, there are many other top-level domains. Although none of them are as well-known as .com, they still manage to amass a wide variety of registrations.

In reality, several top-level domains have less than 1,000 second-level domain registrations, believe it or not!

The number of domains registered in each top-level domain may be determined using a variety of data sources.

The registry for .com and .net is Verisign. It maintains a running total for those two domains on its website.

A good job is done collecting statistics for new top-level domains like .gay and .xyz on the website nTLDStats.com. It calculates the approximate number of domains registered at any given moment using publicly accessible data provided by the registries and other sources.

Operators of all top-level domains, excluding country code domains, submit their registration data to ICANN once each month. But it takes ICANN three months to release these figures.

Registered domains per TLD

If we go by statistics, we can’t say for sure how valuable or popular a domain is given that there are many factors that affect the number of registered domains. For example, the price for registration and the total number of populations in a country considering a country-based top-level domain.

For example in the following list;

  1.   .com – 148.7 million
  2.   .tk – 27.5 million (Tokelau)
  3.   .cn – 24.1 million (China)
  4.   .de – 16.5 million (Germany)
  5.   .net – 13.4 million
  6.   .uk – 11.8 million (United Kingdom)
  7.   .org – 10.1 million
  8.   .nl – 6.0 million (Netherlands)
  9.   .icu – 5.9 million
  10. .ru – 5.7 million (Russia)

Tokelau is a very small area in New Zealand with 1,500 persons but has 27.5 million registered .tk domains. How is this possible?

Well, it’s simply because the .tk domain is free, powered by a company working with the Island, and not because it is popular or valuable. What this implies is, that persons outside Tokelau can register on the domain simply because it is free and this is a strong factor against the population of the region itself.

So how then do we classify or on what basis do we have the most valuable domain extension?

Basically, the most valuable domain extensions would be the ones that add value to your websites and meets the need for which you register them.

Briefly, there are two basic things you would consider before choosing your domain extension;

  •     The use and
  •     The reason for creating the domain

Another factor to consider is your location.

For example, .com is the most valuable extension when it comes to commercial use.

A .us or .de would be the most valuable domain extension if you or your business is in the US or Germany.

.tech would be better if your reason is technology related or .blog if your reason is to run a blog site.

Is .eth the next .com?

As the Web3 equivalent of the .com, major businesses are snatching up domain names with the .eth suffix. But is .eth the replacement for .com, or is it simply more Web3 hype?

Based on the Ethereum blockchain, the Ethereum Name Service (ENS) is a distributed name system for Web3 applications.

In contrast to an Ethereum wallet address, which is a lengthy string of digits and letters, an ENS domain connects this address to a more palatable domain name.

Many individuals hurried to “squat” significant names that represented well-known corporations and personalities after the establishment of the ENS register.

For instance, although the ENS domain name amazon.eth has not yet been purchased by the world’s largest online retailer Amazon (AMZN), a sizable offer has just been made for it on OpenSea.

Why .eth domains are valuable

An ENS serves as wallet to receive cryptocurrency payments and NFTs, as well as to log in to a variety of accounts and platforms, including Decentraland.

In the Web 3.0 community, many now utilize it as a calling card or badge of honor, frequently changing their Twitter and Discord nicknames to their public .eth addresses.

The ENS on a first-name basis demonstrates that the person or brand is current with the scene, similar to email addresses, websites, and social media handles. Celebrities are already adopting them; two of the most popular eth accounts are Parishilton.eth and Shaq.eth.

According to Wang, if you possess your wallet, people will view you as legitimate.

Pahagbia suggests that minting an NFT may be a utilitarian purpose. “In order to mint an NFT, brands must have a blockchain address. They must specify in the smart contract that it is held by [the brand] if they are utilizing a third party to mint it on their behalf. Visit Opensea to see how transfers take place between wallets. The address could be connected to a .eth; if not, it works similarly to webpages where you need the URL and, failing that, the IP address. The new URL is “.eth.”

Conclusion

The need to stress the importance of domain names and their extensions is obvious. They help both in branding and in making your website easily accessible.

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