logo-loader
Minds + Machines Group Limited

Minds + Machines closes deal with imToken

The imToken announcement coincides with the first day of a limited registration period that runs until 25 October where existing holders of .eth names can apply for their equivalent names in .luxe.

Ethereum
imToken is the world's leading Ethereum wallet provider

Minds + Machines Group Limited (LON:MMX), the top-level domain registry company, has entered into a strategic marketing partnership with imToken, the Ethereum cryptocurrency wallet provider.

The possibility of an agreement imToken had been flagged last month. Under the partnership agreement, imToken will be the first wallet provider to fully integrate the offering of .luxe domain names to new and existing customers as part of its product offering.

READ: Minds + Machines in discussions with leading Ethereum wallet as it updates on roll out of ‘.luxe’ domain

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.

Put another way, a user's 42 character wallet address can now be securely associated to a human-readable .luxe name of the user’s choice.

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.

"Trust and transparency are at the heart of our service. Being able to now provide an easy-to-use human readable naming protocol to our users reinforces that sense of trust between counterparties. The fact that the .luxe domain can also work on the World Wide Web is ground-breaking, allowing the world of blockchain to become seamlessly knitted into everyday usage on the web," said Ben He, the chief executive officer and founder of imToken.

Toby Hall, the chief executive officer of MMX, said he was delighted at the speed with which the relationship with imToken had developed.

“This is a major endorsement of the .luxe proposition ahead of our launch in November 2018 and forms part of our strategy of partnering with leading organisations that recognise the importance of letting users exchange data and information both within the blockchain and World Wide Web universes easily through a single naming convention," Hall said.

MMX reported that 65 registrars – companies that lease out domain names - from around the world have expressed a wish to support the .luxe initiative at launch with 16 having already entered agreements to implement the Ethereum enablement of .luxe names via the ENS application program interface that hooks up a .luxe name with an Ethereum asset.

Hall said the interest in the .luxe domain had surpassed all expectations.

“We applaud the forward-thinking, desire to innovate and speed of action being demonstrated by our retail channel, that is allowing us to spearhead an initiative that allows a top-level domain to converge with the Ethereum blockchain," he said.

Quick facts: Minds + Machines Group Limited

Price: £0.06

Market: AIM
Market Cap: £51.97 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Minds + Machines Group Limited named herein, including the promotion by the Company of Minds + Machines Group Limited in any Content on the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Shield Therapeutics targets $1bn US market after FDA...

Top stories from the Proactive Investors UK newsroom. Shield Therapeutics (LON:STX) has been given approval by the US Food and Drug Administration to sell its lead product Feraccru as a treatment for iron deficiency in adults. The US prescription market for iron replacement therapy is...

on 26/7/19

3 min read