Decentralized domain registrar Unstoppable Domains closed a $65 million Series A funding round. The startup has reached unicorn status, with investors valuing it at $1 billion.
Venture capital firm Pantera Capital led the round. Participants include Alchemy Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, and others.
The startup team will use the raised funds to stimulate product innovation and expand partnerships in the Web3 field.
Unstoppable Domains is an NFT domain provider. Each name is a non-fungible token issued on the Polygon network. According to a press release, the service has registered 2.5 million names, including in the “.bitcoin,” “.nft,” and “.dao” zones.
“As the digital economy becomes a bigger part of our lives, it’s time for people to own their online identity,” said project founder Matthew Gould.
The startup previously raised $4 million from Tim Draper’s Draper Associates.
In March 2020, the Opera browser provided access to the provider’s decentralized web resources. They are created using the Zilliqa blockchain, and the site content is packaged in IPFS (InterPlanetary File System) and other decentralized data storage networks.
The startup introduced a beta version of the Unstoppable Chat chat protocol in the summer. It allows storing data on your servers using crypto wallets and P2P network integration.
In 2021, the provider launched a grant program for innovative projects using IPFS technology.
