Fortune 500™, the publication has long been a benchmark for corporate performance and reputation. In 2017, Fortune expanded its scope by dedicating a regular section to cryptocurrency through The Ledger franchise, paving the way for comprehensive coverage in this rapidly evolving field. Building on this legacy, Fortune has introduced the Fortune Crypto 40, its first-ever ranking specifically tailored to the crypto industry.

The Crypto 40 ranking includes five top performers in each of its eight categories, carefully selected for their impact and innovation. The comprehensive review showcases a wide range of enterprises, such as venture capital firms, NFT shops, data analytics companies, and decentralised protocols, all pioneering significant advancements regarding blockchain technology.

Crypto Market Overview and Trends 2024

As 2024 progresses, the cryptocurrency market is witnessing significant growth, highlighted by rapid institutional adoption and long-term projects reaching completion. This surge began with the U.S. approval of spot bitcoin ETFs, marking a new phase of mainstream investment acceptance.

With a stable economic outlook and favourable central bank policies, the year has seen the realisation of mature projects expected to significantly impact the industry. Notably, the SEC’s approval of Ethereum spot ETFs and the U.S. Federal Reserve’s decision to stop raising interest rates are boosting market optimism. Due to the potential for greater returns, these moves are expected to attract more investment into cryptocurrencies. Bearing in mind that 2024 could well be the most important  U.S. election in years, we could see opposing sides pushing for positive economic measures to aid their re-election chances.

Technopedia, the world’s most comprehensive IT reference catalogue, highlights several key digital trends: Decentralised Social Platforms promote censorship-free communication; Restaking on Ethereum enhances blockchain efficiency; Data Availability Layers in modular systems improve scaling; Decentralised Physical Infrastructure Networks (DePIN) and Tokenisation of Real-World Assets (RWA) like real estate disrupt traditional models by enabling decentralised operation and fractional ownership. AI’s growth continues bolstered by utility and hype, while Political Memecoins gain traction as the US 2024 Presidential elections approach.

Domain Names and Naming Highlights

Based on our analysis of the companies listed in the Fortune Crypto 40, we have identified the following key highlights in naming and domain name usage.

Domain Names

34 out of 40 companies prefer the .com extension, which remains the most recognised and globally respected top-level domain (TLD). The .com TLD facilitates global recognition and reinforces a company’s professional image and accessibility worldwide.

6 companies opt for Alternative TLDs like .io, .fi, and .technology, which, while signalling a focus on technology and innovation, may pose challenges such as limited recognition and trust, especially among less tech-savvy audiences. 

32 out of 40 companies use Exact Brand Match (EBM) Domains. In the crypto sector, where trust and security are paramount, using an EBM can enhance credibility and make the brand easily recognisable. 

Notably, no company uses a hyphen in its domain name, reflecting a preference for simplicity and ease of access in their online branding strategies.

Naming

Simple and Memorable Names: Crypto companies generally prefer short and easy-to-remember names, such as “Coinbase,” “Kraken,” and “Circle.” Simple branding and marketing help in brand recall and facilitate customer engagement.

Creative Naming for Differentiation: Some companies opt for more creative or unique names that help establish a distinctive brand identity and capture attention. Examples include “a16z” for Andreessen Horowitz and “RTFKT.” 

Geographic and Cultural Neutrality: The names used by these companies tend not to carry any geographic or cultural connotations. This neutrality is strategic for businesses targeting a global market, as it helps in minimising regional biases and appealing to a broad, international audience.

Adoption of Industry-Specific Terminology: Some companies incorporate terms directly related to their technological or financial focus, signalling their niche or expertise. This can be particularly appealing to knowledgeable investors or users who are familiar with the jargon of the crypto industry. Examples include  “Blockchain Capital,” “Genesis Digital Assets,” and “Chainalysis”.

Namepicks

Check out our article “How to Name a Unicorn?” for insights on choosing a brand name that can help elevate your startup to unicorn status.

Coinbase

Founded in June of 2012, Coinbase is a Leader in cryptocurrency, Bitcoin, Ethereum, XRP, blockchain, DeFi, digital finance and Web 3.0 news with analysis, video and live price updates. It serves as a digital currency wallet and platform where merchants and consumers can transact with new digital currencies.

Interesting fact:  According to Brian Armstrong, co-founder and CEO, the project was initially named BitBank. However, legal advice prompted a change from using ‘Bank’ in the name, leading Armstrong to explore alternatives. He discovered the term ‘coinbase’—a technical term from the Bitcoin protocol—on the Bitcoin Wiki and was immediately drawn to it. 

Recognising the value of an Exact Brand Match (EBM) domain, Brian Armstrong secured Coinbase.com shortly after settling on the name. EBM domains enhance brand visibility, build trust, and simplify user engagement, which is essential for success in the dynamic crypto industry.

Fidelity

Fidelity Investments, known initially as Fidelity Management & Research, is a major financial services company based in Boston, Massachusetts. It started in 1946 after Edward Crosby Johnson II took over the Fidelity Fund, which began in 1930. Today, Fidelity is the biggest mutual fund company in the U.S., managing assets for over 23 million people worldwide. As of December 2023, it handles $13.7 trillion in assets and oversees another $12.6 trillion.

Interesting Fact: Fidelity was a pioneer among financial services firms in extensively embracing technology. It launched the first online portfolio planner and introduced a money market fund with check-writing capabilities. Under the management of Edward’  Ned’ Johnson III, Fidelity invested millions of dollars in developing superior data and computing capabilities. In 1965, this investment culminated in installing their first mainframe computer, which occupied an entire air-conditioned floor at Fidelity’s headquarters.

Johnson III introduced a unique way of managing investments that Fidelity still uses. The company has recently expanded into cryptocurrencies, offering two new funds—one for Bitcoin and another for Ether. These are available for regular investment accounts, trusts, and IRAs. The specific products, FBTC and FETH, are designed for investors who are okay with high risk, with each fund focusing on just one type of cryptocurrency.

Leveraging its rich financial services and innovations history, Fidelity reinforces its global industry leadership and ensures a trusted online presence through its EBM domain, Fidelity.com.

Moonpay

MoonPay is a financial technology company established in 2019 by Ivan Soto-Wright and Victor Faramond. Headquartered in Miami, MoonPay develops payment infrastructure for cryptocurrencies and non-fungible tokens (NFTs), allowing transactions with fiat currencies. The company’s mission is to make cryptocurrency accessible to the next billion people, underlining its commitment to democratising finance. MoonPay emphasises a values-driven culture, articulated through the acronym “BLOCK”: Be humble, Lead with empathy, Own it, Communicate with clarity, and Kaizen (continuous improvement). These principles guide MoonPay as it strives to innovate and grow within the fast-paced crypto market, aiming to maintain stability and foster excellence through incremental daily improvements.

Interesting fact: MoonPay has adopted the Japanese concept of “Kaizen,” which means “change for better.” They apply this principle to aim for a 1% improvement each day, which they believe can translate into a 3,700% growth over a year, emphasising continuous improvement and excellence in all aspects of their operations.

MoonPay has chosen the EBM domain name MoonPay.com to effectively reflect their global ambitions and communicate their forward-thinking vision.

Opensea

OpenSea is an American non-fungible token marketplace based in New York City. The company was founded by Devin Finzer and Alex Atallah in 2017. OpenSea offers a marketplace online allowing for non-fungible tokens to be sold directly at a fixed price, or through an auction.

Interesting fact: OpenSea, a leading NFT marketplace, experienced a phenomenal increase in trading volume in 2021, recording a 646-fold rise from the previous year, surpassing $14 billion. This growth accounted for 56% of the entire NFT market’s transaction volume, which totalled $25 billion in the same year.

OpenSea has strategically acquired the EBM domain OpenSea.com, which now redirects to its primary OpenSea.io. The move increases the company’s credibility and trust among users while broadening its reach.

PayPal

PayPal is an online payment platform that facilitates the payment process for purchases, allows money transfers, and supports the acceptance of payments via credit and debit cards. It is particularly beneficial for small businesses, enabling them to send and receive payments globally. Founded in 1998 as Confinity, PayPal initially aimed to transform the traditional notion of “money” from paper and coins to digital transactions. The company set out to develop the world’s first digital payment platform designed to make financial transactions faster and more efficient.

Interesting fact: PayPal experienced rapid growth from its modest start, using a referral strategy that rewarded new users with small payments of $20, $10, and eventually $5. This approach helped the company expand its user base at a nearly 10% daily rate. From March 2000 to summer 2000, PayPal’s user base soared from 1 million to 5 million members. The platform quickly became popular in the online consumer market, leading to a successful public offering on February 15, 2002.

Using a straightforward EBM domain like PayPal.com, PayPal taps into the same smart branding style that Elon Musk loves, making it a standout name in online payments.

While we make every effort to ensure the data on our site is accurate, complete, and up-to-date, we cannot guarantee its reliability. Our data is provided for informational purposes only and should not be relied upon as legal, financial, or other advice. We strongly recommend that you independently verify any information before relying on it.

A premium domain name can make all the difference in building a successful brand. If you want to take your business to the next level, consider investing in a premium domain name. Contact us today for more information and assistance in finding the perfect domain for your brand.

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