The fundraising is going strong in the crypto ecosystem. Unstoppable Domains, the leading Web3 provider of decentralised domain names, has just secured $65 million in funding, bringing its total valuation to over $1 billion. As a result, Unstoppable Domains officially becomes a unicorn.
This round of funding (series A) is partly led by crypto investment fund Pantera Capital, but also includes Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Polygon and CoinGecko to name a few.
Funding used to support the long-term development of the Web3 platform
Launched in 2018 by Matthew Gould and Bogdan Goussiev, Unstoppable Domains is a platform that provides NFT domains that allow users to own their own digital identity. These NFT domains can be used to replace long crypto wallet addresses, website URLs, or as web usernames3.
“For too long, companies have controlled people’s digital identities, and Unstoppable Domains puts that power back in the hands of people.
Today, the platform has nearly 300 partners and has registered over 2.5 million domains since its launch.
According to the statement released on Tuesday, the unicorn Unstoppable Domains will use the new capital to expand its range of decentralised products and services, integrate new partners, while supporting the long-term development of its platform.
“Our main problem that we’re trying to solve – which is creating a user-owned digital identity for everyone on the Internet – requires a lot of pieces to come together, and that’s what we’re going to focus on over the next few years.”
The San Francisco, US-based company justified the timing of the fundraising by explaining that users are finally beginning to open their eyes to Web3 and the opportunities this growing sector offers: […] Today, people have begun to understand the promise of Web3 and how NFTs can empower people.