TIDMMMX
RNS Number : 7075W
Minds + Machines Group Limited
03 August 2018
For release: 07.00am 3 August 2018
Minds + Machines Group Limited
("MMX" or the "Company")
Ethereum Partnership
Minds + Machines Group Limited (AIM: MMX), one of the world's
leading owners and operators of Internet Top-Level Domains
("gTLDs"), is pleased to announce that it has entered into an
exclusive agreement that will enable Ethereum's Ethereum Name
Service ("ENS") to be integrated into the services marketed by
registrars to consumers in MMX's, soon to be launched top-level
domain, .luxe. The ICANN-approved .luxe extension is set to shortly
enter its pre-launch phases ahead of going on sale to the public
from 30 October 2018.
Under the agreement, any name of a registrant's choice in the
.luxe registry (an abbreviation for "Lets U Xchange Easily") can be
associated through the Ethereum blockchain with the 40 character
hash identifier that currently denotes any Ethereum asset, item or
service supporting Ethereum. As a result, a memorable .luxe name
can act as the public identifier for an individual's Ethereum asset
instead of the complex and long 40 character hash identifier.
MMX believes the market opportunities for the .luxe service are
significant: specifically in the areas of cryptographic wallets,
and the emerging sectors of smart contracts and decentralised apps
(DApps).
For example, in the crypto wallet market, there are already over
26 million wallets in use. Currently, for two holders of Ethereum
supporting wallets to transfer Ethereum or Ethereum-based tokens
between themselves, the recipient has to provide the sender their
unique 40 character wallet hash (eg.
0x314159265dd8dbb310642f98f50c066173c1259b) for the sender to then
re-enter the hash to effect the transfer. Under the .luxe service,
the recipient will be simply able to share the blockchain enabled
.luxe word that they have associated to their wallet (eg.
helen.luxe instead of 0x31415926dd.......). Wallets supported by
the .luxe ENS service at launch will represent those used by the
majority of Ethereum users.
The same process of replacing 40 character identifiers with
relevant and user friendly .luxe names can also, in principle, be
applied to all Ethereum assets or services - eg. smart contracts,
distributed storage, DApps etc., making the potential addressable
market for easy-to-remember blockchain enabled .luxe names
significantly broader than just the crypto wallet market.
MMX and the keyholders of the ENS believe the secure association
of understandable words to Ethereum items or services can
significantly facilitate the movement of Ethereum assets, as well
as usage of services based on the Ethereum blockchain, across the
Internet by end-users.
Toby Hall, CEO of MMX, said:
"MMX is committed to working alongside ICANN and leading
technology partners to ensure domain names continue to have real
relevance to entrepreneurs, developers and end-users in the
twenty-first century. We already know from Ethereum's test in its
non-ICANN authorised .eth zone that there is a real proven demand
for word-based identifiers that are blockchain enabled, ENS having
received deposits of over $28 million on approximately 300,000
seven character words and above in the .eth zone. We look forward
to working with ENS to allow those .eth registrants the opportunity
to claim their equivalent .luxe name before the Company launches
.luxe for sale to the general public in late October. We are
delighted to have developed a deep working relationship with the
keyholders of ENS."
In addition to the blockchain related functionality, the .luxe
extension will also allow names to resolve over the internet in the
normal way for email or web-based traffic. Users will therefore be
able to complement those .luxe addresses that they use for
traditional internet activity with those that they use for their
Ethereum related items or services.
Nick Johnson, lead developer and a root key holder of ENS,
commented:
"We're very excited to be helping advance integration between
existing DNS-based name services and the Ethereum Name Service,
improving usability for blockchain applications and users."
.luxe launch timetable
The ICANN mandated Trademark Sunrise period, where certain
trademark holders can claim their respective trademarks, will begin
9 August and run to 8 October 2018. There will then be a Limited
Registration Period, 9-25 October, where registrants of the circa
300,000 .eth names already registered can claim their equivalent
name in .luxe. Names will then be available to the public on a
first-come first-served basis from October 30. During the first
seven days of public sale, there will be an Early Access period
where registrants will be charged an additional fee to secure the
names of their choice.
Further information on the .luxe launch will be available at
www.join.luxe
-ends-
For further information:
Minds + Machines Group Limited
Toby Hall, CEO Tel: +44 (0) 7713 341072
Michael Salazar, COO/CFO Tel: +1 (310) 740 7499
finnCap Ltd Tel:+44 (0) 020 7220 0500
Corporate finance - Stuart Andrews/Carl
Holmes/Simon Hicks
Corporate broking - Tim Redfern/
Richard Chambers
Belvedere Communications Limited Tel: +44 (0) 74 070 23147
John West
Llew Angus
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
About MMX
Minds + Machines Group Limited (LSE: MMX) is the owner and
operator of a world class portfolio of 32 top-level domain assets
(gTLDs). As a sales and marketing-led registry business, we are
focused on commercializing our portfolio in partnership with our
expanding global network of distribution partners.
The MMX portfolio is currently focused around geographic domains
(e.g. .london, .boston, .miami, .bayern), professional occupations
(e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion,
.wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor
activities (e.g..fishing, .garden, .horse) and generic names such
as .work and .casa. The Company also recently acquired the ICM
portfolio of four high value, niche TLDs. As a business, we work
through our expanding international network of registrars and
distribution partners to bring the benefits of affinity based
domain addresses and identifiers to B2B and consumer audiences. For
more information on MMX, please visit www.mmx.co
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END
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