Key highlights
- D3 Global has successfully secured $5 million in seed funding with support from prominent investors.
- D3 Global reveals its mission to integrate Web3 principles into the Domain Name System (DNS), bringing Web3 TLDs to the forefront.
- D3 eyes launching industry’s first on-chain marketplace for legacy domains, including popular TLDs like .COM and .NET.
D3 Global, an innovative domain name startup, announced it has concluded a seed funding round which saw it raising up to $5 million. Marking a significant milestone for the company, the funding will facilitate its efforts on revolutionizing the web3 domain technology.
Led by Shima Capital, the seed round saw massive supports from prominent web3 investors including Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, MZ Web3 Fund, Kestrel0x1, Nonagon, C² Ventures, Arthur Hayes’ Maelstrom, and Identity Digital founder Paul Stahura.
It appears that Shima Capital is pleased to be a part of the development as the team expressed excitement in supporting the D3 team as they work to integrate the real-world asset class of domains into the rapidly expanding landscape of blockchain-based digital identities.
Yida Gao, Managing Partner at Shima Capital, further emphasizes on their enthusiasm for D3’s unique vision, stating, “D3 is uniquely positioned to revolutionize the domain name industry in this new era of Web3 and interoperability with what we consider as the real metaverse: ICANN-accredited domains that represent digital property rights.”
D3 Global Pioneers Web3 Domain Revolution
While the company was founded just a few months ago in May 2023, D3 has made remarkable progress following its mission to redefine the concept of domain names on the internet’s root layer – the Domain Name System (DNS).
Furthermore, D3 boasts a team of industry veterans who possess over 30 years of collective experience. Hence, D3 is keen on leading the domain name revolution by introducing Web3 TLDs and decentralized, interoperable identities to the heart of the internet – the DNS.
As part of its push to bring enhanced utility, security, and easy access to complex internet infrastructure through its patent-pending technology, D3 has announced plans to apply for and acquire new Top-Level Domains (TLDs) during ICANN’s upcoming application window.
Marking a big move towards achieving its mission, the domains it sets to acquire will provide the industry with secure identities natively supported on all browsers and devices.
D3 Global Announces Industry’s First On-Chain Marketplace
As part of D3’s venture into creating the next generation of domain names, the company has announced plans to launch the industry’s first on-chain marketplace for legacy domains.
Fred Hsu, Co-Founder and CEO of D3 elaborated on this saying, “Our vision extends far beyond the traditional utility of domain names as mere website addresses. We aim to fully utilize blockchain technology to offer domains that serve as secure digital identities.”
Per the announcement, the marketplace will tokenize over 1,000 TLDs, including familiar names like .COM, .NET, and .XYZ. This move aims to inject greater liquidity into the domain investment space while addressing long-standing issues in domain transactions, including transparency, high broker fees, transfer delays, and escrow services
Source: https://coincodex.com/article/31990/d3-global-secures-5-million-in-a-successful-funding-round-aims-to-revolutionize-web3-domain-technology/