Announcement | Strategic Partnership with MMX.
imToken believes that the domain name business is the next killer DApp.
October 9th, 2018, imToken announced the strategic partnership with the London listed company (LSE:MMX), Minds + Machines Group Limited (MMX). MMX is a world-renowned sales and marketing led owner of new generic top-level domains, including domains like .VIP, .LAW and more promising top-level domains.
Ben He, the founder and CEO of imToken mentioned:
“imToken strongly believe in delivering a trusted, transparent and valuable digital asset management product to our users. The collaboration with MMX brings forward a realm of possibilities and potential innovations, it offers convenient yet secure domain name services to our users, enabling a seamless interaction between the blockchain and the Internet ecosystem, taking the user experience to yet another level.”
Will the domain name business be the breakthrough for the DApp ecosystem?
In the 1990s, strings of numbers like 18.104.22.168 were the only way to visit any website on the internet. The difficulties to correlate between the strings of numbers with the actual website gave rise to the Domain Name System (DNS) which drastically improved user experience on the internet with easily recognizable domain names, like the imToken’s official website, token.im.
The current development of blockchain is similar to that of the Internet in the 1990s, with counter-intuitive wallet addresses made up of a series of alphanumeric.
Ethereum Name Service (ENS) was introduced in May 2017 to improve the user experience on the above mentioned, providing recognizable .eth wallet addresses tied to the users’ wallets, auctioned via ENS DApp, to execute transactions. After more than one year of operations, more than 300,000 .eth domain names were auctioned off, with darkmarket.eth auctioned off at the record price of 20,103 eth, more than USD 420,000 at that time.
imToken also introduced a native ENS Pro DApp for users to auction and transact with .eth domain names since the beginning, which accounted for more than 20,000 ENS registration.
Ben He, founder and CEO of imToken mentioned:
“I am optimistic about the business prospects of the domain name ecosystem. The partnership between imToken and MMX dissolves the barriers between traditional domain names and the Ethereum blockchain. Our users will be able to buy traditional top-level domains, paid with digital assets, and then replace their wallet addresses with the domain names. 300,000+ .eth domain names auctioned off showed the real market demand. Imagine this: One domain name to manage your website, email address, digital asset wallet address, digital identity, personal data on IPFS and more. imToken has been on a quest to search for DApps with ground-breaking use-cases, domain name application could very well be that breakthrough we are all waiting for.”
Why partner with MMX?
MMX is a sales and marketing led owner of new generic top-level domains who owns the first open, top-level domain created to combine the Ethereum blockchain with traditional domain name system, .luxe, which stands for “Lets U Xchange Easily”. The owners of .luxe will be able to bind their Ethereum wallet addresses or smart contract addresses with .luxe, or decentralized data on IPFS or Swarm, even to use it to name your CryptoKitties. Furthermore, a .luxe domain name can function as a traditional website or email domain name.
Frequently Asked Questions
How to find out my entitlement to the exclusive registration privilege with my .eth domain name?
If you registered for a .eth domain name on or before September 21st, 2018, you will be entitled to participate in the exclusive registration period of the same .luxe domain name during the limited registration phase which is taking place now AHEAD of the public launch. Please note that imToken will verify the domain name registration during this period, any ineligible registration will be rejected and the registration cost will NOT be refunded. Please ensure that the .luxe name being applied for is consistent with .eth. For more information, please refer to .luxe complaint resolution service: https://www.join.luxe/crs/.
When can you register for a .luxe domain name with imToken?
Starting from October 10th, 2018 (UTC+8), users with .eth domain names will be eligible for the limited registration period for .luxe domain. For examples, if you are the owner of imtoken.eth, you will have the exclusive privilege to register for imtoken.luxe, before October 25th, 2018. MMX will the launch the public offering of .luxe across 7 largest domain name marketplaces on November 6th, 2018. All the above-mentioned can be done with imToken.
Why .luxe but not .eth?
.luxe offers better flexibility and choices than that of .eth. Firstly, .eth is not a top-level domain and hence unusable on the Internet (as a website domain, email address for example), .eth is designed to be used specifically only on the Ethereum blockchain. Secondly, registration of .eth domain names mandates 7 or more characters as the minimum requirement, while for .luxe, any combination of alphanumeric with any length is acceptable, making it more user-friendly than the former (even Chinese characters will soon be acceptable for .luxe!). Last but not least, .luxe domain name registrations with MMX will be entitled to enjoy MMX’s Private Key recovery system, in case of unforeseen circumstances.
About Minds + Machines Group Limited,
Minds + Machines Group Limited (LSE:MMX), commonly known as ‘MMX‘, is a sales and marketing led owner of new generic top-level domains.Their portfolio focuses around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupations (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, cooking, .shopping), lifestyle (e.g. .fit, .surf, .yoga), outdoor activities (e.g..fishing, .garden, .horse) and generic names (e.g. .vip, .work, .casa).
For more information about MMX,
imToken is a digital asset management tool. Founded in May 2016, imToken experienced an exponential growth of user base. Currently, the average daily transactions made via imToken makes for around 10% of the total Ethereum daily network traffic.
imToken supports a wide variety of exciting features, including the management of multi-chain assets including BTC, ETH, EOS and more, seamless token swaps through native decentralized exchange, Tokenlon, as well as a DApp browser that improves the accessibility of functional and interesting DApps.
For more information about imToken,
imToken Website: https://token.im/
Telegram Discussion Channel (EN): https://t.me/imTokenEN
Telegram Discussion Channel (CN): https://t.me/imTokenGroup