Company’s founders have longtime experience in the domain name industry.
D3 Global hopes to bridge web3 with the DNS.
D3 Global has raised a $5 million seed round as it seeks to bridge web3 domain names to the “real” web.
The company plans to apply for and acquire new top level domains during ICANN’s upcoming application window to offer secure identities that are natively supported on all browsers and devices. It says it will do this in partnership with web3 ecosystems and for the benefit of their communities.
D3 says it has patent-pending technology that will introduce interoperability between web2 and web3.
With the next round of TLDs still several years away, the company also plans to introduce “the industry’s first on-chain marketplace for legacy domains, supporting the tokenization of over 1,000 TLDs such as .COM, .NET, and .XYZ to bring greater liquidity to domain investors. This move is expected to significantly reduce the friction traditionally seen in domain name transactions, such as low transparency, high broker fees, transfer delays, and escrow services.”
The company’s founders have deep roots in the domain name industry.
CEO Fred Hsu was co-founder of Oversee.net, the company behind the once-popular DomainSponsor domain monetization platform. He started attending domain events earlier this year, and it was only a matter of time before he dipped his toe back into the business.
The company also counts Paul Stahura, co-founder of Identity Digital, as an investor and advisor. This is interesting because Stahura has come out against many of the web3 naming initiatives that create collisions with real top level domains. Clearly, he sees a way to bridge blockchain-based domains with main-root TLDs.
Shayan Rostam, CEO of new top level domain company Internet Naming Company, is the Chief Commercial Officer.
Shima Capital led the round with participation from Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, MZ Web3 Fund, Kestrel0x1, Nonagon, C² Ventures, Arthur Hayes’ Maelstrom, and Stahura.
Post link: Domain company raises $5 million to bridge web3 and DNS
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