The MMX company, owner of the .LUXE gTLD, recently reported selling a package of .LUXE domain names for a combined value of $100,000. Company CEO Toby Hall did not disclose the number of names sold, but did say the package contained fewer than 100 names. This means the average price of the domain names was over $1,000. This is quite impressive – especially for a new domain, and especially for one like .LUXE.
Initially, MMX used the gTLD as a domain for those buying and selling luxury items. Then the company suddenly repurposed it as a cryptocurrency investor domain by signing a contract with the cryptocurrency project Ethereum. The investors were to use their .LUXE domain names to address cryptocurrency wallets in the Ethereum blockchain. The company even reimagined the name of the domain, making it an acronym for “Lets U Xchange Easily.” It’s safe to say that the backronym turned out to be rather awkward; then again, the idea of using the domain that way is just as questionable. It is obviously convenient to use domain names to address wallets, but it’s unusual to use it to make a website, and why? Only time will tell. At this point, the .LUXE zone file includes over 5,700 registered domains, Domain Incite reports.
