What are .XYZ Domains & Why are Crypto Companies Flocking to Them?

The .XYZ domain is here to be a big part of the Web3 movement, with many entrepreneurs already taking notice of this unconventional domain extension. .XYZ is becoming the domain of choice for the cryptocurrency and NFT community.

Connect to a Growing Global Audience

NFT’s, Blockchains, and Web3 in a Nutshell

If you’ve looked at tech trends for even a moment in the last few years, then you’ve heard buzzwords like NFT and blockchain popping up all over the place. At one point we all thought we sort of knew what the deal was, but then someone sells a Pokemon card merging Homer Simpson and Pepe the frog for $320,000 and we’re back to square one. Every time you think you know what’s going on, it changes.

But here’s a quick refresher: cryptocurrency is based on the blockchain. A blockchain is a decentralized database shared by the nodes of a computer network. Thousands of digital currencies like Bitcoin put their faith in the blockchain to securely record transactions. The blockchain guarantees the fidelity and safety of data and creates trust without the need for a third party.

While Bitcoin is currently trading at about $45,000, cryptocurrency isn’t just for speculating with. It could actually be used to build a decentralized web run on crypto tokens. The idea for a new iteration of the internet is called Web3.

One of the ways that have been done is through the world of non-fungible tokens, or NFTs. Essentially, an NFT is a cryptocurrency with a piece of code attached. The most popular way we use this code is as a certificate of ownership for a digital product. It can really be anything digital: drawings, music, or a gif of a dogecoin as a cat, all recorded on a blockchain.

This is a whole lot of words for the “short version”, but it’s a complicated space.

Podcast tip:

Silicon Valley-based venture capitalist Kevin Rose hosts the NFT-focused podcast Proof. Listeners learn about the NFT space, the blockchain technology involved, and the different types of art. Plus, Proof actually uses .XYZ as their top-level domain 😉

But enough background information, why does this industry care so much about .XYZ?

.XYZ as a Leading Blockchain and Web3 Domains

Some hope Web3 will be a key building block of the shared 3D virtual world known as the Metaverse. The Metaverse is a simulated digital environment that uses augmented and virtual reality along with social media concepts to create spaces that mimic the real world. The web, but you’re inside it. And if you paid attention to analytical geometry you know that X, Y, and Z are the three coordinates that show where you are in a 3D space. And that’s why .XYZ is quickly becoming synonymous with the key components of the Metaverse. 

“We chose .XYZ because it symbolizes decentralization and the new wave of Web3 applications.”

Agora DAO co-founder Réka

The .XYZ domain has supported blockchain technology since 2018, as the pilot domain for the Ethereum Name Service and Domain Name System integration. The registry pioneered the joint solution of providing a memorable wallet address to replace the long Ethereum hash (You try memorizing 0xf7004095d2d81fe3b5937241c106aace6d6e8e4a) which makes sending and receiving digital tokens such as cryptocurrency and NFTs much easier. 

Eth.xyz is a new feature that the XYZ registry started developing in 2021 to continue its support of the blockchain community. Every .eth name in the Ethereum Name Service manager has automatic access to an eth.xyz short link. Eth.xyz can work for .eth holders as a way to share their addresses or an easy way to showcase an NFT collection.

Why Does the Blockchain Community Love .XYZ Domains?

Well, it’s not just because it’s going to the metaverse moon, here are the other few reasons:

• Forward-thinking: .XYZ shows commitment to the latest technology and helps you to connect with a growing global audience. 
• Branding: It is catchy, memorable, and bold.
• Accessibility: Find short, descriptive, and keyword-rich domain names. 
• Connection to Web3: You can use your .XYZ domain name for your Ethereum wallet and website at the same time.
• Easier wallet experience: It’s faster and easier to send and receive digital coins when you pair your wallet with your .XYZ domain. 
• Security: Built-in security and stability come standard with .XYZ domains. 

Who is Using .XYZ?

I already mentioned proof.xyz and agora.xyz above. For context, Agora is a social media and blockchain integration platform. The Agora DAO (decentralized autonomous organization, sort of like a corporate democracy, founded with specific goals in mind) focuses on crypto-token-based social communities.

Besides, there is spiral.xyz, an independent, Bitcoin-focused entity within the block.xyz ecosystem of companies. They build and fund open-source projects that aim to improve Bitcoin’s privacy, security, UX, and ability to scale.

Another great example is davatar.xyz. Davatar is an online platform that allows you to create a unique Web3 avatar for all of your digital wallets and crypto websites that make up the Web3 ecosystem. Their mission is to make decentralized connections fun and accessible for everyone – pretty cool, right?

If you are interested in digital art, check out serwah.xyz, an NFT artist. We could go on like this for hours, but you won’t keep reading that long, so we’ll spare you. But if you’re hyped to see more, you can check out other examples here.

In essence, these future-focused, creative websites speak for themselves. .XYZ domains are already the choice of many who want to express their digital lifestyle and be a part of a new worldwide web. Built for those that value freedom and versatility online, .XYZ is a bold way to establish your brand.