Unstoppable Domains, a preferred blockchain naming system supplier and identification platform, is the newest crypto startup to grow to be a unicorn.
The identification platform, which has amassed over 2.5 million registered NFT domains, stated 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 as we speak confirms a TechCrunch scoop from March this 12 months.
Unstoppable Domains permits individuals 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 individuals register over 2.5 million domains up to now. A number of the in style TLDs it presents embody .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 corresponding to Amazon’s AWS, Uber and Slack, mints every decentralized area title as an NFT on the Ethereum blockchain to offer the proprietor broader management and possession.
Having a site title permits customers to not trouble with sharing their meaninglessly lengthy pockets addresses with pals 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 individuals’s digital identities, and Unstoppable Domains is placing that energy again into the palms of individuals,” stated Matthew Gould, founder and chief govt of Unstoppable Domains, in an announcement. “Because the digital financial system turns into a bigger a part of our lives, it’s time for individuals to personal their identification on the web. We’re thrilled to companion with Pantera and different traders who share our imaginative and prescient of onboarding billions of individuals onto Web3 by way of NFT domains that unlock user-owned, non-public, and transportable identities.”