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Minds + Machines Have Good, But Expensive, Week

Minds + Machines logoMinds + Machines announced that following the private auctions held last week for .deals, .garden, .property and .yoga, they have secured the uncontested application rights for .garden and .yoga.

The net cost for securing the sole application status for .garden and .yoga was approximately $5.97 million (circa £3.6 million), once the proceeds of the .deals and .property private auctions are taken into account. The above figure includes the rebates that the Company will receive from ICANN for withdrawing its applications for .deals and .property and commissions payable to the auctioneer.

“.garden and .yoga are major asset wins for the Group as both represent activities that people are passionate about – we believe this will become an important factor in the adoption of new domains,” said Fred Krueger, Chairman of Minds + Machines. “We look forward to continuing to expand our portfolio through the private auction process while at the same time maintaining our cash reserves.”

Of the auctions, according to Domain Incite, Applicant Auction carried out 13 for contested strings last week. Of these “Donuts won six sets, Uniregistry won three and Minds + Machines won two. Radix seems to have lost at least five auctions, walking away with a great big pile of cash instead.”

Minds + Machines is also the commercial partner for .london providing registry services, which had its launch this week.