Web3 domain provider Unstoppable Domains raises $65 million, becomes newest crypto unicorn
Web3 domain name provider Unstoppable Domain hits $1 billion valuation after closing deal. $65 million Series A funding round led by Pantera Capital.
Commenting on the investment, Paul Beladitakit, Panthera Capital Partner, said: Said:
Unstoppable Domains are rapidly defining a new category of distributed identity that will change the Internet as we know it. I am proud to support Matt and the rest of the team in making this vision a reality. “
Other investors in the Series A round include Draper Associates, Boost VC, Mayfield, Gaengeles, Alchemy Ventures, Redbeard Ventures and Spartan Group.
Matthew Gould, founder of Unstoppable Domains I got it For a long time, people’s digital identities were controlled by large corporations, but as the digital economy integrated into our daily lives, it became imperative for people to have identities on the Internet. As such, they are building an unstoppable domain.
goud continued Say:
The $1 billion valuation highlights the importance of the infrastructure behind decentralized digital identities, separating the “identity component from the financial component.”
With the latest funding, Unstoppable Domains aims to expand its team, expand new partnerships, and enable more businesses and individuals to build Web3 identities on its platform.
Unstoppable Domains Still Growing
The domain naming platform was founded in 2018 to enable users to create NFT domains with full control and ownership of their digital identities.
Platform-issued domain names replace long crypto wallet addresses and are used to log into supported Web3 applications. Users can register with top-level domains (TLDs) such as .crypto, .coin, .bitcoin, .x, .888, .nft, and .dao.
To date, we have registered over 1.4 million domains, including 300,000 NFT domains and 32 wallets from the .Wallet Alliance.
Unstoppable Domains has secured strategic partnerships with Web3 companies such as Polygon, Blockchain.com and MoonPay to meet the demand of 240,000 customers.Reported by luck, announced that it has generated more than $80 million in sales since launching its naming service in September 2019.
In an interview with Gould expressing confidence in the company’s future lucksaid his thoughts:
“…in five years 1 billion people will have at least one NFT domain, and most will own about five.”
Web3 domain names are here to stay
108,000 ENS domains in the first week of July Registered, an increase of 216% from the previous month, with sales of $684,000. The spike could be due to ENS address 000.eth being purchased for a record-breaking 300 ETH. Domain flipping is likely to become a major trend as web3 domain adoption increases.
On the other hand, Unstoppable Domains (UD) recently threatened Suing Competitor Gateway.io for Running .wallet Domain on Competitor handshake system. Unstoppable Domains claims to own the trademark rights to the .wallet top-level domain name.
