Blockchain domain provider Unstoppable Domains becomes unicorn
Keeping true to its name, the NFT domains platform Unstoppable achieved a $ 1 billion valuation in its fourth year of operations.
By Shashank Bhardwaj
Unstoppable Domains, an NFT domains platform, announced on Wednesday that it had achieved unicorn status after reaching a valuation of $ 1 billion following a $ 65 million Series A funding round. The company is a Web3 service striving to simplify crypto payments by providing NFT-based domain names for crypto wallets. NFT domains allow users to trade crypto and interact with decentralized applications (DApp) instead of their digital wallet addresses.
The investors’ list boasted names such as Pantera Capital, Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, We3 syndicate, Rainfall Capital, Broadhaven, EI Ventures, Hardyaka, Sound Media Ventures, Boost VC and Draper Associates.
The company has come a long way since its inception in 2018, registering 2.5 million domains integrated with over 150 Web3 applications and around 80 wallets and exchanges. It has also brought in $ 80 million in sales through its services, with registrations starting at $ 5 per domain and the range soaring into hundreds of dollars.