On July 27, NFT domain provider Unstoppable Domains announced in a press release that it had raised $65 million in a series A funding round at a valuation of $1 billion.

The investor who led the funding round is Pantera Capital. Apart from Pantera Capital Polygon, CoinDCX, Spartan Group, Redbeard Ventures, Rainfall Capital, OKG Investments, Broadhaven, Gaingels, Alchemy Ventures, Mayfield, El Ventures, Alt Tab Capital, CoinGecko and previous investors Draper and Boost VC are among the investors which take part in the funding round.

The funds raised by Pantera Capital will be used for product development and innovation and to grow partnerships with other web-3 firms as they are on the path of building a user-owned and portable digital identity platform.

Founder and CEO of Unstoppable Domains said, “Many companies have controlled the digital identity of the user so we are giving them back their digital identity by providing digital identities. We are happy to be partnered with Pantera Capital and other firms that have the same mission and vision of onboarding users to the web-3 space through NFT domains.”

Paul Veradittakit, Pantera Capital partner further added, “Unstoppable Domains is creating a new category of decentralized identity that will change the internet as we know it, we are delighted to back Matt and its team who are making this vision into a reality.”

Unstoppable domains provide NFT domains to users which give absolute control and complete ownership of their digital identity.

Moreover, unstoppable domains have 2.5 million domains enabling users to log into more than 150 web-3 applications, make decentralized websites and create their web-3 identity, substituting lengthy crypto wallet addresses on more than 80 exchanges and wallets.

Unstoppable domains have partnered with more than 300 web-3 firms like Polygon, Blockchain.com, MoonPay and many more. Since the 2019 launch, they have generated more than $80 million in sales of NFT domains.

Unstoppable domains was founded in 2018 by Matthew Gould. It is a digital platform and an NFT domain name provider working on the mission of onboarding the world onto web-3.

The post NFT domain Unstoppable domain raises $65 million in Series A funding round at valuation of $1 billion appeared first on CryptoShrypto.