Why do Different TLDs have Different Prices?

Your domain name is your identity on the net, and picking one that aligns with your business is important. A TLD (Top-level domain)is what ends your name in a domain and transforms your name into a domain name; it is at the right corner after your name, examples of TLDs are .com, .net, .org, etc.

A TLD determines what your domain is all about before visiting your website. Some TLDs are SEO-friendly, there are over a thousand friendly top-level domains to choose from, you can call them domain extensions or suffix

Top-level domain name price differs from one to the other, and it varies based on the value of the domain, the registry, and the registrar. The registrars' reserve domain names through registries. It is the registries that ultimately hold domain extensions and the names associated with them, e.g. VeriSign (.COM/.NET), PIR (.ORG), Nominet (.UK), or Denic (.DE).

The registries charge a fee for a domain, and these prices vary from one top-level domain extension to another. Some domain names have fixed prices negotiated between the registry and a non-profit called ICANN (Internet Corporation for Assigned Names and Numbers) which is a regulator for domain names. For older domains like .com, .net, and .biz the prices are affordable to register due to the intervention of ICANN but for newer domains, this is not the case which is why they are a bit expensive.

Some registries apply for some domain extensions to be exclusive, they don't just want anyone to register them. The TLD could be restricted to a specific group, profession, or company or be used to describe a particular product or service. To register domains with these TLDs to promote exclusivity, you have to meet certain criteria and be willing to pay higher.