Minds + Machines Group Limited (LON:MMX) shares gained on Monday after news the firm is in “advanced discussions” with the world’s leading Ethereum wallet to integrate its ‘.luxe’ domain into the network.
In an update at the Alibaba Cloud Computing Conference in Hangzhou, China, the domain registry firm said the integration of its ‘.luxe’ domain with the imToken wallet platform, which has over 6mln monthly users, was expected to go live in the fourth quarter of 2018.
The group added that 57 registrar partners had already signed up to support the ‘.luxe’ domain, including leading registrars in China, Japan, and Europe and 16 serving the US market.
The ‘.luxe’ domain is designed to act as an identifier for a user’s Ethereum wallet, enabling them to use a simple website link, rather than a long and complicated string of characters that usually serves as a wallet key, to perform blockchain transactions, making the process easier.
MMX signed an exclusive agreement with the Ethereum Name Service (ENS) in August that would allow registrants on its domain to link their domain address with a 40 character hash identifier used on the Ethereum blockchain to denote an asset, item or service supporting Ethereum.
The domain is also scheduled to be released for general availability on November 6.
Toby Hall, chief executive of Minds + Machines, said the integration marked “a small but highly significant step” in taking blockchain services into the mainstream, adding that the simplification offered by the ‘.luxe’ domain allowed its partners to develop “simple self-service solutions” for their own sites or those of potential distribution partners.
In early afternoon trading, Minds + Machines shares were 2.1% higher at 7.35p.
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