D3 collects $ 25 million to put internet domain names on the blockchain

D3 GlobalA startup working on a means of bringing internet domain names on the blockchain, said on Wednesday that it had lifted $ 25 million in start-up funding led by the venture capital company to make this vision a reality.

The A series was also joined by Coinbase Ventures, co-founder of Polygon Labs Sandeep Nailwal, the founder of Hubspot Dharmesh Shah and the managing director of Namecheap, Richard Kirkendall.

D3 said he would use funds to launch a new blockchain network called the Doma protocol,, that will allow It brings existing and future internet domain names to the blockchain. This will open what the company calls a “”Domainfi,“” or domain financing, a Network where Internet fields can be recorded, exchanged and even loaned using the blockchain infrastructure.

Doma has been specially designed with the property name and trading in the spirit including Complete compliance to the Internet Corporation for the names and numbers awarded, or ICANN, standards and regulations. Icann is a non -profit organization that manages the Internet Domain names, IP addresses and root servers, including the domain name system that translates these names into addresses. This ensures that Doma is entirely compatible with DNS and can be integrated With all the tools in the field industry.

“INternet domains have long been a precious asset class,“” said the co-founder and managing director of D3, Fred Hsu. “”And for the first time in almost three decades, we have the possibility of modernizing and transforming technologies and processes currently used by the field industry. “”

D3 said that using DOMA, there will be an effective bridge between DNS and web3 name systems, such as blockchain name systems. This means that the areas recorded using blockchain systems for cryptographic communities will be able to easily interoperate with registers and registers.

DOMA strives to summarize the conformity of ICANN and of actions specific to DNS such as management, transfer and other mechanisms. This Allows domain names to be tokenized, a process by which a digital representation of the domain is represented on the blockchain by a token which can be exchanged Between users. When users exchange this token, the field exchanges the property of both blockchain and DNS.

Essentially, this means that any field can be a “”chain domain,“” And become a token that contains the right to manage DNS recordings.

D3 is not the only company to work with internet domain names based on blockchain. Web startup3 Unstoppable Domains Inc. received its ICANN license in October 2024 and offers dozens of high -level chain areas.

The domain name market is lucrative. Some domain names have been sold for millions of dollars, with notable examples being NTS.com sale For $ 15 million in 2022Chat.com for $ 15.5 million in 2023 To open and voice.com for $ 30 million in 2019.

Image: Pixabay