Friday, February 3, 2023
HomeGadgetWeb3 digital identification startup Unstoppable Domains raises funds at $1 billion valuation...

Web3 digital identification startup Unstoppable Domains raises funds at $1 billion valuation – TechCrunch

Unstoppable Domains, a well-liked blockchain naming system supplier and identification platform, is the most recent crypto startup to change into a unicorn.

The identification platform, which has amassed over 2.5 million registered NFT domains, mentioned on Wednesday it has raised $65 million in its Collection A funding spherical at a valuation of $1 billion.

Pantera Capital led the 4 year-old startup’s new financing spherical with participation from Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, Alt Tab Capital, Increase VC and Draper Associates.

The announcement right this moment confirms a TechCrunch scoop from March this 12 months.

Unstoppable Domains permits folks to create their username for crypto and construct decentralized digital identities. The startup, which sells domains with sure TLDs for as little as $5, has helped folks register over 2.5 million domains to this point. Among the fashionable TLDs it presents embrace .crypto, .coin, .bitcoin, .x, .888, .nft and .dao.

The startup says it has generated greater than $80 million in gross sales since launching the platform in 2019.

The platform, which incorporates members who labored at corporations akin to Amazon’s AWS, Uber and Slack, mints every decentralized area title as an NFT on the Ethereum blockchain to provide the proprietor broader management and possession.

Having a site title permits customers to not trouble with sharing their meaninglessly lengthy pockets addresses with buddies and companies. It additionally has integrations with over 300 purposes together with OpenSea, Coinbase pockets, Rainbow pockets, Chainlink, Courageous browser and ETHMail. Over 150 DApps help the startup’s Login with Unstoppable product, a single sign-on service for Ethereum and Polygon, addressing one of many painful experiences plaguing the crypto neighborhood.

“For too lengthy, corporations have managed folks’s digital identities, and Unstoppable Domains is placing that energy again into the fingers of individuals,” mentioned Matthew Gould, founder and chief govt of Unstoppable Domains, in a press release. “Because the digital economic system turns into a bigger a part of our lives, it’s time for folks to personal their identification on the web. We’re thrilled to associate with Pantera and different traders who share our imaginative and prescient of onboarding billions of individuals onto Web3 by NFT domains that unlock user-owned, personal, and moveable identities.”



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