Unstoppable Domains, a software company building domains on blockchains,
today announced its $4 million Series A led by Draper Associates. Boost
VC, having previously led Unstoppable Domains’ $730,000 seed round in
December 2018, also participated in the Series A. With this new round of
funding, the San Francisco-based company is building tools so that
anyone can build a website that can’t be taken down.
Tim Draper, managing partner of Draper Associates, said, “By
decentralizing domain names, Unstoppable Domains has the potential to
spread free speech around the world. Get your blockchain domains and
don’t let them be controlled by anyone else, ever!”
This news followed Unstoppable Domains’ recent announcement that the
company would remove any renewal
fees for blockchain domain purchases. Unstoppable Domains creates
its own domain extensions (like .com or .info) and sells domains
directly to consumers at unstoppabledomains.com. 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 Do Two Things:
Payments – 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.
Uncensorable Websites – Blockchain domains 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.
“There are more than 350 million traditional domains registered,” said
Matthew Gould, Unstoppable Domains CEO, “and they’re worth more than $20
billion, but only businesses use them. Everyone needs a blockchain
domain because it makes it easier to receive cryptocurrency. We think
the number of blockchain domains could be more than 2 billion.”
The company intends to use the funds to expand its product team, build
integrations with more wallets/exchanges, and hire sales and marketing
talent.
Follow their upcoming auction at unstoppabledomains.com/auction.
About Unstoppable Domains:
Unstoppable
Domains is a San Francisco-based company building domains on
blockchains. The company is backed by Draper Associates and Boost VC and
has received grants from the Ethereum Foundation and the Zilliqa
Foundation.
For more information visit www.unstoppabledomains.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005182/en/