This clever domain name plays on the word "lit". By adding "AR" at the end, the name becomes a name for a product or startup in artificial reality.
The name "litar" has only five letters and only two syllables. Two syllable names make popular global brands. Established brands using two syllable names include Gucci, Facebook and Kleenex.
Litar.com is a dot com domain. Dot com domains are the most valuable top-level-domain in the world, famously used by websites like facebook.com. When most people think of a website, they think of a dot com.