Web3 domain provider Unstoppable Domains raises $65 million, becomes newest crypto unicorn

Unstoppable Domain, a Web3 domain name provider, has reached a valuation of $ 1 billion since its closure. $ 65 million Series Panthera Capital-led funding round.

Talking about investing, Panthera Capital Partner Paul Veradita Kit Said:

Unstoppable Domains is rapidly defining a new category of distributed identities that will change the Internet, as we know it. We are proud to be able to help Matt and the rest of the team realize this vision. “

Other investors in the Series A round include Draper Associates, Boost VC, Mayfield, Gaingeles, Alchemy Ventures, Redbeard Ventures, and Spartan Group.

Matthew Gould, Founder of Unstoppable Domains I got it For a long time, people’s digital identities have been managed by large corporations, but as the digital economy has been integrated into everyday life, it has become imperative for people to own identities on the Internet. That’s why they’re building an unstoppable domain.

Good continued Say:

The $ 1 billion valuation highlights the importance of the infrastructure behind decentralized digital identities and separates 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 Web3IDs on the platform.

Unstoppable domains are still growing

The Domain Naming Platform was established in 2018 to allow users to create NFT domains with full control and ownership of digital identities.

The domain name issued by the platform replaces the long crypto wallet address and is used to log in to 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 over 1.4 million domains registered with the .Wallet Alliance, including 300,000 NFT domains and 32 wallets.

Unstoppable Domains has strategic partnerships with Web3 companies such as Polygon, Blockchain.com and MoonPay to meet the demands of 240,000 customers.Report by luck, Since launching the naming service in September 2019, it has revealed that it has generated sales of over $ 80 million.

Gould expressed confidence in the company’s future, luckExpressed his thoughts:

“… 1 billion people will own at least one NFT domain in five years, and most will own about five.”

Web3 domain name stays here

In the first week of July, 108,000 ENS domains Registered, Shows a 216% increase from the previous month, while sales were $ 684,000. The spike may be due to the ENS address 000.eth being purchased at a record 300 ETH. As the adoption of web3 domains increases, domain reversal can become a major trend.

On the other hand, Unstoppable Domains (UD) recently Threatened Sue competitor Gateway.io for running .wallet domain on competitor handshake system. Unstoppable Domains claims to own the trademark rights to .wallet top-level domain names.