Unstoppable Domains, a popular blockchain naming system provider and identity platform, is the newest crypto startup to become a unicorn.
The identity platform, which has collected over 2.5 million registered NFT domains, conveyed on Wednesday that it raised $65 million in its Series A funding round at a valuation of $1 billion.
Pantera Capital led the four-year-old startup’s new financing round with participation from Gaingels, Mayfield, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, Alt Tab Capital, Boost VC, and Draper Associates.
About Unstoppable domains
Unstoppable Domains lets individuals create their username for crypto and make decentralized digital identities. The startup, which deals with domains with specific TLDs for as low as $5, has assisted people to register over 2.5 million domains to date. Some of the popular TLDs it offers include .bitcoin, .crypto, .coin, .x, .888, .nft and .dao.
The startup articulates that it has generated more than $80 million in sales since establishing the platform in 2019.
The platform includes members who worked at big companies such as Amazon’s AWS, Uber, and Slack. It mints each decentralized domain name as an NFT on the Ethereum blockchain to give the owner more comprehensive control and ownership.
Having a domain name authorizes users to not worry about sharing their meaninglessly long wallet addresses with friends and businesses. It also bears integrations with over 300 applications, some of them are OpenSea, Coinbase wallet, Rainbow wallet, Chainlink, Brave browser, and ETHMail. Over 150 DApps back the startup’s Login with Unstoppable product, a single sign-on service for Ethereum and Polygon, handling one of the painful experiences tormenting the crypto community.
Matthew Gould, founder, and chief executive of Unstoppable Domains, in a statement, highlighted that for too long, companies have regulated people’s digital identities, and Unstoppable Domains is placing that power back into the hands of people. Further, the CEO mentions that as the digital economy becomes a larger part of our lives, it’s about time that people own their identity on the internet.
You may find this useful, What is Ethereum Name Service?
Unstoppable domains is thrilled to partner with Pantera and other investors who share their vision of onboarding billions of people onto Web3 via NFT domains that unlock user-owned, private, and portable identities, says Matthew.
Paul Veradittakit, Partner at Pantera Capital sharing his views remarks that Unstoppable Domains is quickly defining a recent classification of decentralized identity that will change the internet as we know it, he also emphasizes that Pantera Capital is delighted to back Matt and the rest of the team who are creating this illusion a reality.
Hungry for more information?
NFT Calendar from NFTHi
Join us on Telegram!
NFTHI does not recommend any kind of Investment in NFTs or NFT trading. All the strategies are merely educational references.
Conduct thorough research before you start with NFTs