SNEAK PEEK
- Unstoppable Domains has raised $65 million in series A funding; thereby, earning the unicorn status.
- Pantera Capital led the financing with various strategic investors.
- The company has issued more than 2.5 million NFT domains.
According to Unstoppable Domains’ announcement, the Web3 digital entity platform has raised $65 million in Series A funding. The funds will be deployed to support product innovation and establish partnerships in the Web3 world.
1/ BIG NEWS 🦄🦄🦄
— unstoppable.nft (@unstoppableweb) July 27, 2022
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
Matthew Gould, founder, and CEO of Unstoppable Domains said that the Web2 era has been unsuccessful in safeguarding the privacy and personal details of people. Luckily, the Web3 era is different and covers all such issues.
The company is known for providing blockchain-based domain names that end in extensions like .bitcoin, .crypto, .wallet and .nft.
Mayfield, Polygon, Pantera Capital, and CoinGecko will be the company’s investors. Unstoppable Domains has grabbed unicorn status with a $1 billion valuation.
A detailed blog has been posted by the company with all the exclusive details and more insights.
The platform has proved its value in the Web3 world. It has about 2.5 million registered domains, currently. However, how many among these are paid is unclear, as the company has conducted several promotions.
Paul Veradittakit, Partner at Pantera Capital, said:
Unstoppable Domains is rapidly defining a new category of decentralized identity that will change the internet as we know it.
The company assists individuals in getting started in the Web3 space. Its other expertise includes providing NFT domains; thus, giving people authority over their virtual identity and complete ownership at the same time.
Unstoppable Domains has collaborated with leading Web3 companies like Blockchain.com and Polygon. Their excellence in work and future plans are the reason behind the $1 billion valuation.
Long crypto wallets can be replaced with Unstoppable Domains and people can log into nearly 150 Web3 applications besides building decentralized websites. Combining all these tools, one can create and secure a Web3 identity on a platform.
