LUXXFOLIO Holdings has launched a separate decentralized data storage vertical. The company is building on its core capabilities in industrial data center management to procure, install and operate customized storage server equipment connected to the Filecoin network, which aims to provide a faster, cheaper, and more reliable distributed infrastructure for storing and retrieving data. The Filecoin network functions as a marketplace where developers can rent storage space, similar to traditional cloud storage, but instead of trusting one provider with user files, they're split up and served by a globally distributed network of computers.

Storage providers who contribute storage space and computing power to the network will collect rewards known as FIL tokens for storing and distributing data to clients. FIL tokens, which are traded like other cryptocurrencies, are used as an economic incentive to ensure files are stored reliably over time. Filecoin is built with the InterPlanetary File System, a next generation protocol aiming to make the Web faster, safer, decentralized, and permanent.

Established in 2015, IPFS has over 5 billion files spanning scientific data, genetic research, video distribution and streaming, 3D modelling, Metaverse and NFT assets, AI analytics, and Play 2 Earn Gaming. The first set of Filecoin storage servers have been received and a full node has been installed and connected to the Filecoin network allowing LUXXFOLIO to begin earning rewards.