The web3 digital identity platform Unstoppable Domains has announced a massive $65 million Series A financing round at a $1 billion value. The proceeds from this offering will be used to finance web3-related product development and collaboration. Pantera Capital, Mayfield, CoinGecko, & Polygon are among the companies that have invested in the network. The future of the firm is being closely watched now that it has reached “unicorn status,” with a value of $1 billion.
The value of the Unstoppable Domains is $1 billion.
Unstoppable Domains’ most recent update further establishes the company as a significant player in the web3 industry. Over 2.5 million domains have been registered on the platform, which offers web3 digital identity services.
According to Paul Veradittakit, Partner at Pantera Capital, “Unstoppable Domains is fast creating a new category of decentralized identity that will transform the internet as we know it.” We are pleased to support Matt and the group working toward this goal.
The company’s primary focus is on assisting newcomers to the web3 community. Additionally, it provides NFT domains that fully allow users to own their online personal data.
When it comes to web3 firms, Unstoppable Domains, founded in 2018, has partnered with heavy hitters like Polygon and Blockchain.com. The company is worth $1 billion due to its past achievements and plans.
Working of an NFT domain name service
Establishing and maintaining a reliable digital identity is essential in today’s always-connected digital society.
Unstoppable Domain is a service that facilitates the creation of decentralized websites, authentication into over 150 web3 apps, and shortening lengthy crypto wallet addresses. When you combine these resources, you’ll have all you need to create a secure and distinguishable web3 identity.
The ability to perform all these things in one place gives the Unstoppable Domains platform enormous potential. It has attracted some of the most well-known investors in the web3 ecosystem and has a value of $1 billion.