Unstoppable Domains Raises $65m in Series A Funding Led by Pantera Capital

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Unstoppable Domains announced that it raised $65 cardinal successful Series A backing led by Pantera Capital.funding2_1200.jpg

The caller backing for the steadfast that builds integer individuality markers arsenic non-fungible tokens (NFTs) present has a valuation of $1 billion.

Besides erstwhile investors to the company, different caller participants successful the backing circular were Mayfield, Gaingels, Alchemy Ventures, Redbeard ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, and others, according to The Block.

The steadfast has said it plans to usage the caller money to trim the friction of crypto payments betwixt applications. It besides plans to physique a loyalty reward programme infrastructure based connected a user’s estimation wrong the crypto ecosystem.

The steadfast added that the caller backing is besides capable to springiness Unstoppable Domains 3 years to physique its products.

“We are connected a ngo to make a user-owned and controlled individuality for everybody connected the planet; we really deliberation that NFT domains are going to beryllium the exertion that makes this happen,” Unstoppable Domains co-founder and CEO Matthew Gould told The Block.

The strategy down the institution involves allowing users to registry domain names for a one-time fee. The domains provided by Unstoppable Domains enactment arsenic a idiosyncratic identifier for a idiosyncratic among assorted different crypto applications and assistance users support a accordant estimation utilizing web3 technology.

According to Gould, the institution has a rigid process to verify a user, which involves asking the idiosyncratic to supply hundreds oregon thousands of pieces of further accusation astir themselves.

Earlier this year, Pantera acceptable retired its program to rise a $200 cardinal money titled the "Pantera Select Fund." At the time, it said it had invested successful an "unnamed institution which produces NFT domain names."

Image source: Shutterstock

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