Unstoppable Domains, a San Francisco, CA-based software company building domains on blockchains, raised $4m in Series A funding.
The round was led by Draper Associates, with participation from Boost VC, which had previously led Unstoppable Domains’ $730k seed round in December 2018.
The company intends to use the funds to expand its product team, build integrations with more wallets/exchanges, and hire sales and marketing talent.
Led by Matthew Gould, CEO, Unstoppable Domains is building domains on blockchains. It creates its own domain extensions (like .com or .info) and sells domains directly to consumers at unstoppabledomains.com. This funding news followed the company’s recent announcement that the company would remove any renewal fees for blockchain domain purchases.
They recently launched their 1st extension called .zil. Pre-orders for .zil domains are open now and a public auction for the most valuable domains will begin June 20th.
Blockchain domains replace crypto addresses with a single human readable name. With just a few clicks, users attach their Bitcoin, Ethereum, Litecoin, and any other cryptocurrency address they want, all to one domain. When someone wants to pay, just tell them yourname.zil, they type that into a wallet send field, and send. That’s it.
They are stored in a user’s wallet, just like a cryptocurrency. No 3rd party can seize the domain. Website content is stored on IPFS or other decentralized storage networks, making a takedown request impossible. The combination of a domain held by the user and content stored on decentralized storage, means that anyone can easily create a website that can only be taken down by the user.
The company has also received grants from the Ethereum Foundation and the Zilliqa Foundation.