Galaxy Digital is a leading player in the digital asset and blockchain space, assisting institutions, startups, and qualified individuals in navigating the rapidly evolving economy. Last year, the company expanded its brokerage services and global reach with the acquisition of GK8. Galaxy won an auction to acquire the company from crypto lender Celsius, which had filed for Chapter 11 bankruptcy protection.
Adding GK8 to our prime offering at this pivotal moment for our industry also highlights our continued willingness to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.
Michael Novogratz, Founder and CEO of Galaxy
As the crypto and blockchain landscape continues to gain momentum globally, Galaxy has made a strategic move to invest in the sought-after premium one-word .com domain name, Galaxy.com, a significant upgrade from its previous domain, GalaxyDigital.io.
While the .io extension is often associated with technology and innovation, it may not be as widely recognized or convey the same level of credibility as other domain extensions like .com. A company may start with a compromised domain name and later upgrade to an exact brand match (EBM) domain for various reasons such as unavailability, budget constraints, or market testing.
In upgrading its domain, Galaxy not only dropped the .io extension but also simplified its brand name to Galaxy. Adding words to a brand name may limit the flexibility of the brand and making it harder to expand into new markets or product lines. In the case of Galaxy, the company is involved in funds, banking, ventures and offers a wide variety of services that go beyond just the digital association, that is very commonly related to marketing and branding agencies. Users also tend to simplify and shorten names when looking for them and so naturally the business has likely been losing traffic and emails to the Galaxy.com domain before the upgrade.
When it comes to premium domain names, it’s important to weigh the potential loss in terms of brand recognition and revenue against the cost of the investment. In the long run, a premium domain name can be a valuable asset for your business. Contact us to learn more about our premium domain options and how they can help your business succeed.