Tue, October 3

D3 Secures $5 Million Funding for Web3 TLDs and DNS Interoperability

D3 Secures $5 Million Funding for Web3 TLDs and DNS Interoperability Blockchain News

Next-generation domain name company D3 Global is excited to announce the completion of its $5 million seed funding round, which was led by Shima Capital and included participation from Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, MZ Web3 Fund, Kestrel0x1, Nonagon, C² Ventures, Arthur Hayes’ Maelstrom, and Identity Digital founder Paul Stahura.

D3, a company established in May 2023, promises to transform the Domain Name System (DNS), the root layer of the Internet and a real-world asset class. In order to provide secure identities that are natively supported on all browsers and devices, D3 wants to apply for and obtain additional Top Level Domains (TLDs) during ICANN’s next application window in collaboration with top Web3 ecosystems and for the betterment of their communities. By enabling interoperability between Web2 and Web3, D3’s patent-pending technology will also improve utility, security, and all-inclusive access to crucial internet infrastructure.

“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,” stated Yida Gao, Managing Partner at Shima Capital. “We are immensely excited to support Fred and 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.”

D3 will also provide the first on-chain marketplace for legacy domains in the sector, facilitating the tokenization of over 1,000 TLDs like.COM,.NET, and.XYZ to increase the liquidity available to domain investors. The conflict often present in domain name sales, such as lack of transparency, excessive broker fees, transfer delays, and escrow services, is anticipated to be considerably reduced as a result of this step.

“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,” commented Fred Hsu, Co-Founder and CEO of D3. “We are committed to driving forward the convergence of the traditional DNS system and Web3 to make domain names more versatile, secure, and universally accessible.”

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.