The provider of NFT-domains Unstoppable Domains got $65 million in the last round of financing that allowed the project to join the range of “unicorns” – companies with capitalization of more than $1 billion. The main investor was Pantera Capital. CoinGecko, Polygon, CoinDCX and other brands also invested in the startup.
The promising field of NFT domains
Unstoppable Domains sells domains as NFT assets. Such domains have several advantages:
- An easy-to-read name;
- Ability to use the address to receive cryptocurrencies and to run the site;
- Full ownership of the domain (no future payments).
The customer pays for the domain once and then mints it for free on the Polygon network. Ownership will be stored in the purse of the buyer. That is, the customer will not have to pay extra for upgrades, as traditional domain providers require.
Unstoppable Domains has dozens of top-level domains available, including .crypto .wallet, .nft and .x. The minimum registration price is $5; the maximum can be as high as $100,000.
The company claims to have registered more than 2.5 million domain names since 2018 and made a profit of $80 million.