LONDON (Alliance News) - Minds + Machines Group Ltd said it has achieved three key milestones in its .luxe research and development project, including the first USD100,000 .luxe domain sale.
Shares in Minds + Machines were up 6.9% at 6.20 pence in late morning trade.
The .luxe project looks to create the first standardised naming approach for all public blockchain addresses as well as on the world wide web.
One of these milestones is that the domain registry firm has completed the .luxe decentralised all-chain association engine, which means a single .luxe address can now be associated on-chain to any new or existing address on a public blockchain.
The new system means that customers with tokens in more than one blockchain can store their blockchains in a single wallet.
Another milestone is that Minds + Machines has secured the first exchange and wallet partners to adopt its .luxe all-chain approach. The three companies so far are Exshell Exchange, MEET.ONE, and Bying, which are all Asian and have a combined customer base of 1.2 million.
Moreover, Minds + Machines has also completed its third milestone as it has sold a small number of .luxe names for USD100,000 in total in a single trade.
Minds + Machines Chief Executive Toby Hall said: "We are seeing an acceleration of momentum in our .luxe project. Partners are recognizing the immediate benefits our approach can potentially provide, not just to their customers but also to their own management systems. This activity is all about creating a meaningful platform for future growth to support our core [domain name system] based recurring revenue model."
