Crypto companies have been using websites with URLs ending in “.xyz” rather than their standard .com counterpart, but why is that?
What does .xyz mean?
.xyz was originally created in 2014, and it went viral one year later when Google’s parent company, Alphabet Inc., decided to use it for their newly rebranded website. Due to an increasing problem with domain names being taken Alphabet had to find a way to generate new domain names for their website. This led to the creation of .xyz.
Alphabet decided to open its website as abc.xyz, this created an “unlimited branding opportunity” according to the CEO of xyz, Daniel Negari, TechCrunch reports. Negari is a very active crypto investor. He’s invested in Gemini, MoonPay, and BlockFi.
Since his interest in crypto is so high, he reached out to Ethereum Name Service (ENS) creator Nick Johnson to offer him a collaboration.
“That historic collaboration allowed early adopters to use a .xyz domain as their wallet address,” Negari said, according to TechCrunch.
ENS allows users to create a universal nickname for all their crypto addresses. It provides a searchable database to make crypto wallets and transactions more accessible.
They also made a new statement on new collaborations coming the way:
“We are excited to publish a service we started developing to help ENS users share what they want to the world: eth.xyz. The XYZ Registry is committed to supporting the next generation of internet users, including Web3 trailblazers and beyond.”
