Leading Web3 digital identity platform Unstoppable Domains, which boasts over 2.5 million registered NFT domains, reached a valuation of $1 billion and closed $65 million in Series A funding, Coin Journal learned from a press release.
Pantera Capital, a new investor, led the round. Others included Alchemy Ventures, Redbeard Ventures, Mayfield, Gaingels, Spartan Group, OKG Investments, CoinGecko, We3 syndicate, Polygon, CoinDCX, Rainfall Capital, Broadhaven, Alt Tab Capital, EI Ventures, and previous investors Draper and Boost VC.
Funds used for product innovation
Unstoppable Domains will use the funds raised to augment product innovation and develop Web3 partnerships as they continue working on a portable and user-owned digital identity platform. Unstoppable CEO and founder Matthew Gould said:
For too long, users’ digital identities have been controlled by companies. Unstoppable Domains is giving people that power back. Unstoppable is delighted to partner with Pantera and other companies that want to onboard billions of people onto Web3, just like us, through NFT domains that unlock private, user-owned, and portable identities.
Pantera Capital partner Paul Veradittakit added:
Unstoppable Domains is creating a new decentralized identity category, which will change the internet as we know it. We’re proud to back Matt and the rest of the team, who are making this vision a reality.
Unstoppable Domains is an NFT market leader
Unstoppable Domains was founded in 2018. Its NFT domains give people complete control and ownership of their digital identity.
People can use the company’s more than 2.5 million domains to create decentralized sites, log into more than 150 Web3 applications, build their web3 identity, replace lengthy crypto wallet addresses on almost 100 exchanges and wallets, etc.
More than $80m in sales since launch
Among Unstoppable Domains’ more than 300 long-term partners are Polygon, MoonPay, Blockchain.com, etc.
The platform’s sales have exceeded $80 million since its launch. Recently, Forbes named Unstoppable Domains, which is fully remote, one of America’s Best Startup Employers.
The post Unstoppable Domains valuated at $1b, closes $65m in Series A round appeared first on CoinJournal.
