Web3 company Unstoppable domains raises $65 million to become a unicorn in the crypto industry. The funding was led by Pantera Capital and has pushed the company’s valuation past $1 billion. The company’s founder wants to scale its services to the level that at least a billion people will use their NFT domains in the next 5 years. This could change the entire domain industry in the future. So, let’s see what the future holds for them.
The latest funding round
The Capital partner of Pantera Capital, who has invested in Unstoppable domains, said that they are defining a new category in the decentralized identity space. They are optimistic it could even change the world. It was a Series A funding round, and other companies that participated in the same are Mayfuekd, Draper Associates, Alchemy Ventures, Spartan group, Redbeard Ventures, and Boost BC.
Using the NFT domains, people can own their identities and finally be free from the control of the enterprises that have been managing all their personal data until now. The company’s founder wants to make this a reality, so he built Unstoppable domains.
This is yet another field where NFTs and blockchain could change the way we interact with the internet and the world. The latest $65 million funding will help Unstoppable domains expand their team, nurture partnerships and help businesses and individuals to fast-track creating their digital identities on their platform.
More about Unstoppable domains
The NFT domains company was founded in 2018 and has grown substantially since then. It has over 1.4 million domains and is supported across multiple web 3 applications. With its use, users can replace their length crypto addresses with a simple NFT domain like .crypto, .bitcoin, and .nft, among others. The larger their partnership becomes with other companies, the easier it will be for users to transact using crypto addresses.
The company has been generating steady sales and revenue and is actually seeing an increase in demand. In July, they saw 108,000 ENS domain registrations which is a jump of 216% from the month before that.
What are your thoughts as Web3 company Unstoppable domains raises $65 million and becomes the latest crypto unicorn? And do you think the concept of NFT domains will take off? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
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