Unstoppable Domains Looks to Turn NFTs Into Web3 Digital Identities with $65M In Funding

By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team
Published on July 27, 2022

Having a solid digital identity is important. Not only does it make things easier around the web, but it can prove you are trustworthy more quickly than some long, drawn-out process. Unstoppable Domains is trying to bring that same convenience and security to web3, offering decentralized digital identities to people around the world using NFT domains. The domains can be used as a universal username, website URL, payment address for wallets, and more. Moreover, they are supported on major browsers and over 300 apps. Check out the following press release to learn more.

Unstoppable Domains, the leading platform for Web3 digital identity with more than 2.5 million registered NFT domains, today announced it has closed $65 million in Series A funding at a $1 billion valuation. The round was led by new investor Pantera Capital with participation from Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, and Sound Media Ventures, along with previous investors Boost VC and Draper Associates. Unstoppable Domains will use the funding to fuel product innovation and grow our partnerships in the web3 space as we continue to build a platform for user-owned and portable digital identity.

“Unstoppable Domains is rapidly defining a new category of decentralized identity that will change the internet as we know it,” said Paul Veradittakit, Partner at Pantera Capital. “We’re proud to back Matt and the rest of the team who are making this vision a reality.”

Founded in 2018, Unstoppable Domains offers NFT domains that give people full ownership and control of their digital identity. The company has registered 2.5 million domains, which people can use to log into more than 150 Web3 applications, replace lengthy crypto wallet addresses on more than 80 wallets and exchanges, create decentralized websites, and build their web3 identity. Unstoppable Domains has built more than 300 partnerships with leading web3 companies like Polygon, Blockchain.com, MoonPay and more. Unstoppable Domains has generated more than $80 million in sales since launching in 2019.

“For too long, companies have controlled people’s digital identities, and Unstoppable Domains is putting that power back into the hands of people,” said Matthew Gould, Founder and CEO of Unstoppable Domains. “As the digital economy becomes a larger part of our lives, it’s time for people to own their identity on the internet. We’re thrilled to partner with Pantera and other investors who share our vision of onboarding billions of people onto Web3 through NFT domains that unlock user-owned, private, and portable identities.”

Unstoppable Domains is a fully remote company and was recently named one of America’s Best Startup Employers by Forbes.

ABOUT UNSTOPPABLE DOMAINS

Founded in 2018, Unstoppable Domains is an NFT domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers NFT domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America’s Best Startup Employers in 2022.

ABOUT PANTERA

Pantera Capital is the first institutional investment firm focused exclusively on bitcoin, other digital currencies, and companies in the blockchain tech ecosystem. Pantera launched the first cryptocurrency fund in the United States when bitcoin was at $65/BTC in 2013. The firm subsequently launched the first exclusively-blockchain venture fund. In 2017, Pantera was the first firm to offer an early-stage token fund. Pantera Bitcoin Fund has returned over 32,000% in nine years and has returned billions to its investors. Pantera manages $4.7bn across three strategies – passive, hedge, and venture.

The original press release can be found on PR Newswire.

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By Spencer Hulse Spencer Hulse has been verified by Muck Rack's editorial team

Spencer Hulse is a News Desk Editor at Grit Daily. He covers breaking news on startups, affiliate, viral, and marketing news.

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