Unstoppable Domains, the web3 digital identity platform, has announced that it raised an incredible $65 million in Series A funding at a valuation of $1 billion. This round of funding will support product innovation and partnerships in the web3 space. Companies investing in the platform include Pantera Capital, Mayfield, CoinGecko, and Polygon. Now, with a $1 billion valuation, Unstoppable Domains has ‘unicorn status’, and many will be looking at what the future holds.
Unstoppable Domains valuation is $1 billion
The latest announcement by Unstoppable Domains confirms the importance of the company in the web3 space. The platform, which provides web3 digital identity services, now has over 2.5 million registered domains.
“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.”
Basically, the company helps people to get started in the web3 ecosystem. Furthermore, it offers NFT domains that give people complete control over their digital identity and, notably, full ownership.
Founded in 2018, Unstoppable Domains has partnerships with some of the biggest web3 companies such as Polygon, Blockchain.com and others. Because of the work they have done so far and what they also plan for the future, Unstoppable Domains now has a $1 billion valuation.
How Does the NFT domain name service Work?
Digital Identity is a crucial part of the ‘online’ world. Whether that is social media, websites, Twitter handles, or crypto identities.
With Unstoppable Domains, you can replace long crypto wallet addresses, log into over 150 web3 applications, and create decentralized websites. Put all these tools together, and you can build a unique and safe web3 identity on one platform.
Finally, the power to do all these things in one place means that the Unstoppable Domains platform has giant potential and now has a $1 billion valuation and some of the most notable investors in the web3 ecosystem.