Decentralized domain registrar Unstoppable Domains has closed a $65 million Series A funding round. The startup has reached “unicorn” status with investors valuing it at $1 billion.
1/ BIG NEWS 🦄🦄🦄
— unstoppable.nft (@unstoppableweb) July 27, 2022
We’re excited to share that we’ve raised $65 million – at a $1 billion valuation – in a Series A led by @PanteraCapital! 🚀
This is a huge milestone for NFT domains and further validation for user-owned digital identity.
🧵👇or blog: https://t.co/PclWefOcK0 pic.twitter.com/jtz5ppyBlt
The round was led by venture capital firm Pantera Capital. Participants include Alchemy Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko and others.
The startup team will use the funds raised to foster product innovation and expand Web3 partnerships.
Unstoppable Domains is a provider of NFT domains. Each name is a non-interchangeable token issued on the Polygon network. According to the press release, the service has registered 2.5 million names, including in the “.bitcoin,” “.nft” and “.dao” zones.
“As the digital economy becomes a bigger part of our lives, it’s time for people to own their identity online,” said project founder Matthew Gould.
The startup had previously raised $4 million from Draper Associates’ Tim Draper.
In March 2020, the Opera browser provided access to the provider’s decentralized web resources. These are created using the Zilliqa blockchain, and the sites’ content is packaged in IPFS (InterPlanetary File System) and other decentralized networks for data storage.
Over the summer, the startup introduced a beta version of the Unstoppable Chat protocol. It allows you to store data on your own servers using cryptocurrencies and P2P network integration.
In 2021 the provider launched a grant program for innovative projects using IPFS technology.
Recall that in June 2022 the exchange and operator of cryptocurrency wallets Blockchain.com announced that it will offer users domain names in the “.blockchain” zone from Unstoppable Domains.
