D3 raises $25m in funding round led by Paradigm

D3 Global has raised $ 25 million in a series A series of funding A, the funds set to help the domain infrastructure startup to build its new blockchain network, Doma Protocol.

The venture capital company Paradigm led the A series, D3 said in a press release is January. 29

The co-founder of Coinbase Ventures, Polygon Labs Sandeep Nailwal and the founder of HubSpot, Dharmesh Shah, also participated in the financing cycle.

D3 plans to use capital injection to support additional growth in the economy of the field. This includes the use of technologies that improve the composability of assets for domain name operators such as registers and registers.

New Domainfi blockchain

The DOMA protocol, which D3 announced in the context of the financing of the series A, is a key initiative in this effort. The new blockchain platform aims to stimulate innovation and expansion within the Domainfi ecosystem, potentially democratizing the property of digital assets for billions of the Internet.

Fred Hsu, Director General and Co-founder of D3, commented:

“Internet areas have long been a precious asset class. And for the first time in almost three decades, we have the possibility of modernizing and transforming the technologies and processes currently used by the domain industry via the DOMA protocol. The Domainfi economy will inaugurate a new era of innovation and financial opportunities, because each field, community and user is in chain. »»

In addition to Doma, D3 seeks to take advantage of several industry partnerships to stimulate adoption in the Domainfi space. The newly launched Domainfi community of the startup includes Solana (GROUND), Avalanche (Avax), Feather, onefootball and hockey.com.

The partnership with Solana Foundation aims to provide web2 and web3 areas to Solana via a bridge. Meanwhile, Avalanche plans to launch the higher level .avax area.