Unstoppable Domains raises US$ 65M Series A to develop NFT Internet Domains

Web3 digital identity service provider Unstoppable Domains has raised a $64 million Series A funding round led by Pantera Capital. The raise boosted the firm to ‘unicorn’ status, a term applied to startups with a valuation of US$1 billion or above.

Other participants in the funding round included Polygon, CoinDCX, CoinGecko, Mayfield, Alchemy Ventures, Gaingels, Redbeard Ventures, OKG Investments, Spartan Group, Rainfall Capital, Web3 Syndicate. Past investors Draper Associates and Boost VC also joined the round.

Unstoppable Domains plans to use the $64 million to grow its partnerships with Web3 apps and improve its product.

‘For too long, companies have controlled people's digital identities, and Unstoppable Domains is putting that power back into the hands of people,’ said Matthew Gould, Founder and CEO of Unstoppable Domains. ‘As the digital economy becomes a larger part of our lives, it's time for people to own their identity on the internet. We're thrilled to partner with Pantera and other investors who share our vision of onboarding billions of people onto Web3 through NFT domains that unlock user-owned, private, and portable identities.’

Unstoppable Domains provides Web3 domains as NFTs to give users a digital identity they can use on over 150 different Web3 applications and more than 80 wallets and exchanges. The domain replaces lengthy crypto wallet addresses with readable names to make crypto transactions, accessing wallets and exchanges easier. 

Founded in 2018, Unstoppable Domains has registered 2.5 million domains. The firm said it has established more than 300 partnerships with leading Web3 companies like Polygon and MoonPay. 

Photo: Unstoppable Domains