Unstoppable Domains today announces that it has raised $65 million in a Series A funding round led by Pantera Capital at a $1 Billion valuation.
Unstoppable Domains was founded in 2018 with a vision to enable digital identity for every person on the planet. Basically, it provided NFT domains that can be used across multiple web3 platforms and dApps. As per the official stats, around 2.5 million domains have been registered till now.
In today’s funding round other investors include Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, El Ventures, Hardyaka, and Alt Tab Capital, along with previous investors Boost VC and Draper Associates.
As per the team, the funding will be used to grow partnerships in the web3 space and to build a platform for user-owned and portable digital identity.
The $1 billion valuation highlights the importance of infrastructure behind decentralized, digital identities, separating “the identity component from the finance component,” says Matt Gould, the Unstoppable founder and CEO.
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