Unstoppable Domains Raised $65 Million In Series A

Unstoppable Domains provide digital identities to users in the form of NFT domains. On July 27, 2022, the company announced the completion of a $65 million Series A funding round.

Leading the round was Pantera Capital, along with prominent names such as Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko. It is known that investors from previous funding rounds also participated in this Series A round.

Previously in April 2022, Pantera Capital launched a new investment fund worth $200 million, revealing its investment in “a market leading NFT domain name provider”. So far, that company can be seen as Unstoppable Domains.

Unstoppable Domains is being valued at $1 billion

Unstoppable Domains becoming the new “unicorn” in the crypto market. “Unicorn” is a word commonly used to refer to startups valued at $1 billion or more.

The company intends to use the funds raised to accelerate the development of an inter-app crypto payment solution and launch a loyalty rewards program. The new round of funding provides enough funding for Unstoppable Domains to grow over the next three years.

Unstoppable Domains co-founder and CEO Matthew Gould told the press:

“We are on a mission to create digital identities owned and controlled by users. Unstoppable Domains wants to be universal to all citizens around the globe. Domains in the form of NFTs will help us realize this mission.”

Similar to Ethereum Name Service (ENS), Unstoppable Domains allows users to register domain names for a certain fee. This domain name acts as a digital identifier, representing users when using crypto applications. From there, a person’s identity and reputation are maintained consistently in the web3.

“We think having a consistent name on the Internet speaks volumes about who you are, and also helps you build a consistent reputation across all the different apps you interact with.

Our vision is to help the three billion mobile phone owners to have NFT domains in the future.”

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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