Unstoppable Domains, an NFT domains platform, revealed on Wednesday that it had gained unicorn status after getting a $1 billion valuation after a $65 million Series A funding round. The company is a Web3 service that simplifies crypto payments by offering NFT-based domain names for crypto wallets. NFT domains enable users to trade cryptocurrencies and interact with decentralized applications (DApps) rather than their digital wallet addresses.
In the list of investors, names like 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 M domains with more than 150 Web3 applications and about 80 wallets and exchanges. In addition, it has brought in $80 M in sales via its services, with registrations beginning at $5 per domain and go up to hundreds of dollars.
In the current month, Unstoppable Domains also reported its collaboration with MoonPay to include NFT domains in transactions within the platform, further expanding its reach.
Matthew Gould, the founder and CEO of the newly minted unicorn, is presently counting the $6.9 million previously raised in VC funding as its seed capital. This contains a billing under Series A in 2019, that he says was mislabeled due to this fact that they were at that time a small company without a PR team.
Gould clarifies that as the company is interested about acquiring this important goal, they also take on a lot of responsibility after securing this funding as they are expected to get higher results. “You have one day to celebrate and take the victory lap and have a glass of champagne — and thereafter the next day, you get right back to work,” he added.
