Minds + Machines Group (MMX), the top-level domain registry company, told investors on Tuesday it sold $100,000 of .luxe names, secured three exchange and wallet providers for its .luxe, and completed the .luxe decentralized all-chain association engine.
The R&D project for .luxe is to introduce the first standardized naming approach that can be interoperable across all public blockchain addresses and the World Wide Web.
Minds + Machines said that the .luxe decentralized all-chain association engine has been completed, meaning a single .luxe address can be securely associated on-chain to any existing or newly created address on a public blockchain.
Currently each blockchain will typically use randomly generated alphanumeric strings of 36-42 characters as the address/identifier for a wallet/asset on its chain, making it an issue for exchanges and wallet providers to manage accounts.
Three exchange and wallet providers in Asia have agreed to introduce the domain across their platforms this year.
They have a combined customer base of approximately 1.2million with daily active customers typically ranging between 5-10%.
Minds + Machines also reported that it completed the sale of a number of .luxe names for a combined value of $100,000 in a single trade.
Shares in Minds + Machines Group were trading 4.31% higher at 6.05p each following the news
Toby Hall, CEO of MMX, said the company is seeing an acceleration of momentum its .luxe project.
He added: “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 DNS based recurring revenue model."