Coinspeaker
D3 Raises $5M to Drive Web3 Adoption through Digital Domains
On September 5th, the emerging domain name company D3 Global announced the successful closure of a $5 million seed funding round. This round was led by Shima Capital, along with several other financing companies and funds such as Maelstrom by Arthur Hayes, Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, among many others.
D3, aims to transform domain names, a real-world asset, into the foundational layer of the internet known as the Domain Name System (DNS).
Key Partnerships to Drive Digital Identities
To achieve its goals, D3 plans to partner with leading Web3 ecosystems and apply for new Top-Level Domains (TLDs) in the upcoming ICANN (Internet Corporation for Assigned Names and Numbers) application window. The idea is to provide secure digital identities compatible with all browsers and devices.
Fred Hsu, Co-Founder and CEO of D3 Global, stated that the company’s current focus is to leverage blockchain’s advantages to make domains serve as secure digital identities, bridging the gap between the traditional DNS system and Web3:
“We are committed to advancing the convergence of the traditional DNS system and Web3 to make domain names more versatile, secure, and universally accessible.”
D3 plans to introduce interoperability between Web2 and Web3
D3 has asserted that thanks to its “patent-pending technology”, they hope to achieve interoperability between Web2 and Web3, with the goal of offering greater utility, security, and universal access in critical internet infrastructures.
Yida Gao, Managing Partner at Shima Capital, stated that D3 is “strategically positioned” to revolutionize the domain name sector in Web3, as ICANN domains represent digital property rights in the metaverse:
“D3 is uniquely and strategically positioned to revolutionize the domain name industry in this new era of Web3 and interoperability with what we consider the true metaverse: ICANN-accredited domains representing digital property rights.”
Gao expressed great enthusiasm for supporting Fred and the D3 team in their efforts to integrate real-world domains into the rapidly expanding landscape of blockchain-based digital identities:
“We are incredibly excited to support Fred and the D3 team as they work to integrate real-world asset classes of domains into the fast-growing landscape of blockchain-based digital identities.”
Soon, D3 will launch the first on-chain marketplace to tokenize legacy domains like .COM, .NET, and .XYZ, providing greater liquidity to domain investors. The startup aims to reduce friction in domain name transactions.
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D3 Raises $5M to Drive Web3 Adoption through Digital Domains