NFT: Unstoppable Raises $ 65 Million – The platform is worth $ 1 billion

Identity in the form of an NFT – When it comes to NFT, we often imagine collections of more or less successful images to collect and exchange. But behind this highly speculative aspect that the media likes to point fingers are hiding uses practical and innovative. And in the field of digital identity protection and management, the American startup Unstoppable domains is one of the rising stars of cryptogalaxy. You have just completed a funding round with flying colors. She wears your best dress, off you go Las Vegas to make a point.

Unstoppable Domains tries to simplify Web3 for us

Anyone who has ever ventured into creating crypto wallets must have noticed that the safety is a very important consideration. We don’t mess with customer money on both centralized and decentralized exchanges. And when we try to transfer tokens, these are extended addresses that we need to copy and verify. This is the problem he tries to solve Unstoppable domains offering to unique addressin the form of NFT, to connect to different services.

Concretely, it is a smart contract on a public blockchain. It will allow users to control their private data, to send and receive cryptocurrencies but also to interact with decentralized applications. The user will pay only once during the creation of his address. You can therefore use it for life without any other form of hidden costs. This simplification Manipulation is likely to promote adoption by the general public and investors have understood this.

The Unstoppable Domains team is delighted with the news and it was worth a little unicorn on a skateboard! – Source: Twitter

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Investors like NFTs that serve a purpose

On Wednesday, the startup announced the closure of round A of funding in the amount of 65 million dollars. The valuation of the company therefore amounts to almost‘a billion dollars. Recall that traditionally there are four funding rounds for young businesses. It starts with the so-called seed phase followed by cycles A, B and C. All this will allow the company to grow and develop its products or services. Created in 2018, Unstoppable Domains matters 2.5 million unique addresses integrated into more than 150 app of Web3 and almost 80 portfolios and cryptocurrency exchanges. The turnover amounts to 80 million dollars in the past three years.

The company is now looking to expand. With this huge influx of new money they will ” continue to innovate and forge new partnerships“. Among the investors of this A cycle, we find well-known names in the sector. And if you read us regularly you will surely recognize some of them. We can mention Panthera Capital – who led the fundraiser – but also Mayfield, Alchemy Ventures, Spartan Group, Polygon, CoinGecko or even Draper Associates. The full list is available in the press release. The founder and CEO of the company Matteo Gould is satisfied with the turn of events:

“As the digital economy becomes a more important part of our lives, it is time for people to take ownership of their identity on the internet. (…) We are thrilled to partner with Pantera and other like-minded investors to integrate billions of people into Web 3.0 through NFT domains that unlock private, portable identities owned by users.. “

Unstoppable Domains is one of those companies that quietly continues to work and prepare the Internet of tomorrow. And the smart money make no mistake by injecting tens of millions of dollars left and right. Furthermore, according to a recent study by Kucoin, Web3 does not only attract investors as nearly 50% of respondents could potentially work on it. And you?

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