To expand its name services, Unstoppable Domains secured $65 million in a fundraising round headed by Pantera Capital. The founder anticipates one billion individuals will own at least one NFT domain in the next five years.
Unstoppable Domains Provider Becomes Crypto Unicorn
Paul Veradittakit, a partner at Panthera Capital, commented on that Unstoppable Domains is fast inventing a new category of decentralised identity to transform the Internet. They would support Matt and the rest of the team, bringing this idea to life.
Draper Associates, Boost VC, Mayfield, Gaingeles, Alchemy Ventures, Redbeard Ventures, and Sparta Group are Series A investors.
Matthew Gould, the founder of Unstoppable Domains, observed that for a long time, people’s digital identities had been controlled by big businesses. However, as the digital economy gets interwoven into daily life, individuals can own their identity on the Internet.
The $1 billion value emphasises the need for infrastructure supporting decentralised digital identities by separating the identity component from the finance component.
With the most recent financing, Unstoppable Domains intends to expand its workforce, develop new partnerships, and let more organisations and people create Web3 identities on its platform.
Unstoppable Domains achieved unicorn status. Image: Shutterstock
Unstoppable Domains continue to expand.
The domain naming platform was established in 2018 to enable users to create NFT domains while maintaining complete control and ownership of their digital identities.
Domain names supplied by the platform are substituted for long crypto wallet addresses when logging into Web3 apps supported. Users can register top-level domains (TLD) such as.crypto,.coin,,.nft, .bitcoin,.x,.888 and.dao.
Over 1.4 million names have been registered, including 300,000 NFT domains and 32 wallets with the Wallet Alliance.
Unstoppable Domains has acquired strategic collaborations with Web3 firms, including Polygon, Blockchain.com, and MoonPay, to address the needs of its 240,000 consumers. Since starting its name service in September 2019, Fortune reports that the company has made more than $80 million in revenues.
In an interview with Fortune, Gould voiced optimism for the company’s future that one billion individuals will have at least one NFT domain in five years, and the majority will own roughly five.
Web3 domain names will continue to exist.
During the first week of July, 108,000 ENS domains were registered, accounting for a 216% increase from the previous month, leading to sales of $684,000. The growth might be attributed to the purchase of the ENS address 000.eth for a record-breaking 300 ETH. As web3 domain popularity rises, domain flipping might become a big trend.
Unstoppable Domains (UD) has threatened to sue its rival Gateway.io for operating a .wallet domain under the rival Handshake scheme. Unstoppable Domains asserts that it has trademark rights for the .wallet top-level domain.
