Blockchain domain provider Unstoppable Domains becomes a unicorn

by Arthur · July 28, 2022

Blockchain domain provider Unstoppable Domains becomes a unicorn

True to its name, NFT domain platform Unstoppable achieved a $1 billion valuation in its fourth year of operation

By Shashank Bhardwaj

Image: Shutterstock

Unstoppable Domains, an NFT domain platform, announced on Wednesday that it had achieved unicorn status after reaching a $1 billion valuation following a $65 million Series A funding round. The company is a Web3 service that strives to facilitate crypto payments by offer 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 investor list boasts 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 ranging into the hundreds of dollars.

This month, Unstoppable Domains has also announced its partnership with MoonPay to incorporate NFT domains into transactions within the platform, further expanding its reach.

The founder and CEO of the newly minted unicorn, Matthew Gould, is now considering the $6.9 million raised earlier in VC funding as seed funding. This includes an invoicing under Series A in 2019, which he says was mislabeled because they were a small company without a PR team at the time.

Gould explains that while the company is excited to reach this impressive goal, they also take on a lot of responsibility after receiving this funding as they are expected to deliver higher results. He added: “You have one day to celebrate and take the victory lap and have a glass of champagne – and the next day you’re straight back to work.”

The author is the founder of yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash