The project offers NFT domains — a human-readable username that can be used as a website URL and as a payment address for wallets.
Listen to the CoinMarketRecap podcast on Apple Podcasts, Spotify and Google Podcasts
Unstoppable Domains has achieved "unicorn" status in its latest funding round, and now commands a valuation of $1 billion.
The platform has raised $65 million, and the company plans to use the capital "to fuel product innovation and grow our partnerships in the Web3 space."
Pantera Capital led the funding round, with Spartan Group, CoinDCX and Polygon among more than a dozen other investors.
Paul Veradittakit, a partner at Pantera, was bullish on the platform's future prospects, declaring:
"Unstoppable Domains is rapidly defining a new category of decentralized identity that will change the internet as we know it."
The project offers NFT domains — a human-readable username that can be used as a website URL and as a payment address for wallets.
Figures suggest that more than 2.5 million of these domains have been registered so far, and now, they can be used to log into more than 150 Web3 applications.
Unstoppable's CEO, Matthew Gould, says tech giants have controlled people's digital identities for too long — and its offering helps put power back in the hands of the people. He added:
"As the digital economy becomes a larger part of our lives, it's time for people to own their identity on the internet. We're thrilled to partner with Pantera and other investors who share our vision of onboarding billions of people onto Web3 through NFT domains that unlock user-owned, private, and portable identities."
While some crypto brands have seen their valuations fall in the current bear market, some businesses are continuing to raise capital and grow.
Earlier this month, Animoca Brands secured another $75 million in funding — accelerating its valuation to $5.9 billion in the process.
