Amid the worldwide gloom around cryptocurrencies, Blockchain domain name provider Unstoppable Domains on Tuesday announced it has raised $65 million in its Series A funding to become a new unicorn.
Founded in 2018, Unstoppable Domains is leading platform for Web3 with more than 2.5 million registered non-fungible token (NFT) domains.
The platform said it will use the funds to fuel product innovation and grow its partnerships in the Web3 space as it continues to build a platform for user-owned and portable digital identity.
The funding round was led by new investor Pantera Capital with participation from Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, and others.
“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.
“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,” he said in a statement.
The platform offers NFT domains that give people full ownership and control of their digital identity.
The company has registered 2.5 million domains, which people can use to log into more than 150 Web3 applications, replace lengthy crypto wallet addresses on more than 80 wallets and exchanges, create decentralized websites, and build their web3 identity.
Unstoppable Domains said it has built more than 300 partnerships with leading web3 companies like Polygon, Blockchain.com, MoonPay and more.
It generated more than $80 million in sales since its launch.
“Unstoppable Domains is rapidly defining a new category of decentralized identity that will change the internet as we know it,” said Paul Veradittakit, Partner at Pantera Capital.