Web3-focused Blockchain domain provider Unstoppable Domains has recently become a unicorn after closing a $65 million funding via a Series A funding round led by Pantera Capital.
1/ BIG NEWS 🦄🦄🦄
We’re excited to share that we’ve raised $65 million – at a $1 billion valuation – in a Series A led by @PanteraCapital! 🚀
This is a huge milestone for NFT domains and further validation for user-owned digital identity.
🧵👇or blog: https://t.co/PclWefOcK0 pic.twitter.com/jtz5ppyBlt
— unstoppable.nft (@unstoppableweb) July 27, 2022
Unstoppable becomes a Unicorn
Unstoppable Domains, which now sits at a $1 billion valuation, aims to use the raised funds in product innovation and partnerships expansion in the web3 space.
As per the announcement by the company, apart from Pantera Capital, the funding round saw the participation of several big players, including Polygon, CoinGecko, CoinDCX, Mayfield, Alchemy Ventures, Gaingels, Redbeard Ventures, OKG Investments, Spartan Group, We3 syndicate, Broadhaven, Rainfall Capital, EI Ventures, Alt Tab Capital, and Hardyaka.
Paul Veradittakit, Partner at Pantera Capital, commented on the fast growth of Unstoppable Domains and said that the company is “defining a new category of decentralized identity that will change the internet as we know it.”
According to Matthew Gould, the founder and CEO of Unstoppable Domains, the company’s emphasis will be on giving people “power back into their hands” by enabling them to manage their digital identities. He added:
“As the digital economy becomes a larger part of our lives, it’s time for people to own their identity on the internet. We’re thrilled to partner with Pantera and others who share our vision of onboarding billions of people onto Web3 through NFT domains that unlock user-owned, private, and portable identities.”
With Unstoppable Domain, users can essentially construct a blockchain-connected web address (akin to a URL) that transforms the addresses of a digital wallet into a shorter, more recognizable name that connects to decentralized apps and cryptocurrency exchanges.
The company, founded in 2018, has so far registered 2.5 million domains. Since its debut the following year, it has made $80 million in income.
Notably, as TheCoinRse reported, Unstoppable Domains recently partnered with Moonpay, a crypto infrastructure service outfit, to simplify the digital currency buying process for the latter’s users.
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