On Windows, I set up a Autohotkey shortcut in a way that the selected text was sent to the OS for execution. If it's a http hyperlink, default browser is launched. If it's a file path, file explorer is launched (the OS figured this out all by itself).
I switched to Ubuntu recently (and I think it's great!) but boy do I miss that shortcut. Before delving into AutoKey, which seems like a neat tool, I'd like to know if there might be a simpler solution.