NewEconoLabs (NEL) have announced strategic partnerships with Fenbushi Capital and NEO Global Capital (NGC) for their NEO Name Service project (NNS). NNS is a distributed, open source domain name system based on the NEO blockchain. It will allow users to create .neo domains that can be used instead of public keys as a receiving address when making transfers.
The project began in November 2017, and is currently deployed to TestNet. NewEconoLabs have reached a co-operation agreement with O3 to support the .neo domain service, and have stated they intend to work towards co-operation with other mainstream NEO ecosystem wallets.
Fenbushi Capital was established in 2015 and was named one of the top 5 blockchain venture capital firms by CB Insights. The VC firm is said to have invested over USD $50 million in blockchain projects, and is also hosting a NEO consensus node (currently running on TestNet).
NewEconoLabs believe that the investment from Fenbushi Capital is an affirmation of the quality of the NNS project. NEL also hope the investment will speed up development and increase the brand awareness.
NEO Global Capital is the investment arm of the newly reorganised NEO Foundation and has invested in projects such as Ontology, Switcheo, Moonlight, Zilliqa and Bluzelle. NGC has a focus on assisting projects that will benefit the NEO ecosystem and NEL believe the potential of NNS to improve the user experience of blockchain makes the co-operation a good fit.
More information on NEO Name Service and NewEconoLabs can be found at the below links.
About The Author: Dean Jeffs
Dean is a digital project manager who has worked extensively with start ups and agencies in the marketing space. Fascinated by the potential applications of blockchain technology, Dean has a passion for realising the new smart economy.
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