Web3 digital identity startup Unstoppable Domains raises funding at $1 billion valuation – Meczyki.Net

Unstoppable Domains, a popular blockchain naming system provider and identity platform, is the latest crypto startup to become a unicorn.

Identity Platform, which has submitted more than 2.5 registered NFT domains, said on Wednesday that it has raised $65 million in its Series A funding round at a valuation of $1 billion.

Pantera Capital raises fresh funding round for four-year-old startup with participation from Mayfield, Gingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, V3 Syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka led. Alt Tab Capital, Boost VC and Draper Associates.

Today’s announcement confirms a Meczyki.Net scoop from March this year.

invincible domain Allows people to create their own username for crypto and create a decentralized digital identity. The startup, which sells domains with certain TLDs for as little as $5, has helped people register more than 2.5 million domains to date. Some of the popular TLDs it offers include .crypto, .coin, .bitcoin, .x, .888, .nft, and .dao.

The startup says it has generated over $80 million in sales since launching the platform in 2019.

The platform, which includes members working at companies such as Amazon’s AWS, Uber and Slack, uses each decentralized domain name in the form of an NFT on the Ethereum blockchain to give the owner broad control and ownership.

Having a domain name doesn’t bother users sharing their wasted long wallet address with friends and businesses. It also has integration with over 300 applications including OpenSea, Coinbase Wallet, Rainbow Wallet, Chainlink, Brave Browser, and ETHMail. Over 150 dApps support startups’ logins with the Unstoppable product, a single sign-on service for Ethereum and Polygon, addressing one of the painful experiences plaguing the crypto community.

“For too long, companies have controlled people’s digital identities, and Unstoppable Domains is putting that power back in the hands of the people,” Matthew Gould, founder and chief executive of Unstoppable Domains, said in a statement. “As the digital economy becomes a huge part of our lives, it is time for people to make their mark on the internet. We are thrilled to partner with Pantera and other investors, who share our vision of connecting billions of people on Web3 via NFT domains that unlock user-owned, private and portable identities.