D3 Global recently secured $25 million in funding to revolutionize the internet domain industry. The company, known for its decentralized approach to domain names, aims to modernize domain operations through the development of the DomainFi network on the Doma Protocol blockchain.
According to Fred Hsu, CEO of D3 Global, the DomainFi economy will bring about a new era of innovation and financial opportunities by transforming the technologies and processes within the domain industry. This move is expected to enhance asset appreciation, fractional ownership, domain-based lending, and digital identity and branding.
Key investors in this funding round include Paradigm, Coinbase Ventures, and notable individuals such as Sandeep Naiwhal, Dharmesh Shah, and Richard Kirkendall. The support from both Web2 and Web3 leaders underscores the potential of DomainFi to accelerate the growth of domains as a significant real-world asset class.
The Doma Protocol, an Ethereum-based blockchain, has been specifically designed to meet the strict compliance requirements and industry standards set by ICANN. This ensures seamless integration with the Domain Name System (DNS) and domain industry tools, laying the foundation for tokenization of existing and future domains.
Doma Protocol’s ability to bridge the DNS and Web3 name systems is a significant milestone, as it streamlines operations across registries, registrars, and crypto communities. By abstracting underlying complexities and facilitating verified tokenization, Doma enhances the liquidity and interoperability of domains, reshaping how domains are traded and utilized across different ecosystems.
Through strategic partnerships with industry giants like Solana, Avalanche, OneFootball, Plume, and Hockey.com, D3 Global is poised to democratize digital asset ownership and expand domain functionality as composable assets. These collaborations aim to unlock new financial products and provide liquidity options for domain owners while catering to over 5 billion connected internet users globally.
Charlie Noyes, a general partner at Paradigm, emphasized the potential of bringing domains on-chain to enhance liquidity and enable innovative financial products. The backing of the D3 team in rebuilding domain infrastructure for the future digital markets highlights the industry’s shift towards embracing blockchain technology.
As D3 Global continues to advance the DomainFi economy, the domain industry is on the brink of transformation. With a focus on democratizing digital asset ownership, the company’s initiatives are set to reshape the domain landscape and unlock new opportunities for stakeholders across the internet ecosystem.
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