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Unstoppable Domains said on Wednesday that it had raised $65 million in Series A funding. Pantera Capital served as the investment round's lead investor, and additional investors included Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, and OKG Investments. Previous Unstoppable Domains investors reportedly took part in this most recent investment round. https://twitter.com/unstoppableweb/status/1552250868258455553
Unstoppable Domains' $1 Billion Valuation
Unstoppable Domains, now valued at $1 billion, plans to use the money to lower the barriers to crypto payments between applications and develop the framework for a user-based loyalty reward system within the crypto ecosystem. Unstoppable Domains will have more than three years to build its product, thanks to this latest funding round. CEO Matthew Gould said,
"We are on a mission to create a user-owned and controlled identity for everybody on the planet; we think that NFT domains are going to be the technology that makes this happen,"
For a one-time cost, consumers can register domain names through Unstoppable Domains. Then, using Web3 technology, these domains can serve as an individual identity for individuals across various crypto applications, assisting users in upholding a consistent online reputation. To verify that a user is who they say they are, Gould explains that Unstoppable Domains asks users to provide hundreds, if not thousands, of additional information about themselves so that "your identity is emergent." Earlier this year, Pantera announced its intention to launch the Pantera Select Fund, a $200 million fund. The corporation claimed to have invested in an "unnamed company which creates NFT domain names" at the time.