Why is .IO so expensive?

Have you ever wondered why domain names ending in .IO are so pricey? It's a valid question, given that many startups and projects in the cryptocurrency and blockchain space have opted for these domains. The answer lies in a combination of factors. Firstly, the .IO extension is a country code top-level domain (ccTLD) representing the British Indian Ocean Territory, but it's been adopted by tech-savvy communities due to its perceived similarity to 'input/output' or 'innovation'. This has created a sense of exclusivity and cachet among the tech world, driving up demand. Secondly, the scarcity of available .IO domains also contributes to their high prices. As more and more projects compete for these sought-after domains, prices naturally escalate. So, if you're looking to acquire a .IO domain for your crypto or blockchain venture, be prepared to shell out a significant amount of money. But remember, it could be worth it to have a domain that represents your innovative spirit and sets you apart from the crowd.