Domains have been registered and in use for decades. During this time, millions of domain names have been created, registered, and deleted. Since each of these domains must be unique, the list of applicable or desirable names available to your business has been depleted, if not exhausted.
In the past, there were only 22 top-level domains (TLDs) or domain extensions in use, such as .com, .net, and .org. The ICANN organization realized that there was a dwindling supply of ideal TLDs and sought to remedy that by adding new domain extensions. This provides you with better or more creative ways to create a domain that is helpful for your business or website.