China's quest for internet domination has taken an unusual detour: Exotic domain names.
Chinese entities have hovered up half of all domain names with new popular generic top-level domains (gTLD) extensions such as .online, .luxury and .xyz, according to Christian Voss, chief marketing officer at domain trading marketplace Sedo.
Websites ending with popular gTLDs, such as .com, have historically seen strong demand. For global businesses, not having a .com extension reflected poorly on their brand image, Voss said.
But in recent years, the Internet Corporation for Assigned Names and Numbers (ICANN) shook things up by approving many new extensions. ICANN estimated more than 1,300 new extensions could become available in the next few years.