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The term ‘generic Top-Level Domains’ (gTLDs) describes long-established domains such as .COM, .NET, .ORG, and .BIZ, as well as hundreds of ‘new gTLDs’ which have appeared in recent years, such as .BLOG, .IRISH, .DESIGN or .ROCKS.
These types of domains are called ‘generic’ to distinguish them from ‘country-code TLDs’ (ccTLDs) such as .IE or .FR.
The main benefit to choosing a new gTLD (generic Top-Level Domain) such as .BLOG, is availability. The older long-established domains like .COM have millions of registered domain names, and it can be difficult to find a memorable, meaningful name which has not already been registered by someone else. The new gTLDs have opened up hundreds of new namespaces, with new opportunities for great domain names.
The second benefit of new gTLDs is that many of the new domain extensions are valuable keywords in their own right, and not merely a redundant suffix. A new gTLD is a more efficient. Compare BlueSuedeShoes.com with BlueSuede.shoes.
Yes, Google and other search engines rank new gTLDs the same way as the ‘old’ gTLDs.
The general rule is to make sure it’s relevant to the business, service or information you’re providing. So if you’re selling shoes, something like yourcompany.shoes would be a good start.
The question of whether to migrate an established website to a new domain is one that requires careful consideration and planning. If your website is established and you’ve put a lot of effort in promoting your current domain name then we would not advise you to suddenly switch your website to a new domain, irrespective of the TLD. You could start by simply redirecting the new TLD to your current domain name and move to the new TLD once a proper migration plan is in place.