With fresh funding, D3 Global start-up is going to change the narrative in decentralized domain name solutions (DNS) with tokenization instruments. It is also going to bring Web2/Web3 synergy to this critically important sphere for internet development.
D3 Global completes $5 million seed round backed by Shima Capital
D3 Global, a cutting-edge decentralized DNS developer, has completed its $5 million seed funding round. Top-tier crypto-focused fund Shima Capital led the round, while a clutch of highly reputable VCs, including the likes of Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, MZ Web3 Fund, Nonagon, C² Ventures and Arthur Hayes' Maelstrom, also backed the start-up in its fundraising efforts.
@D3inc is a next-generation domain names company pioneering the modern digital identity narrative. We’ve raised $5m in seed funding to create the next billion web3-interoperable domains on the Internet!— D3 (@D3inc) September 5, 2023
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The platform is aimed at bringing new tech mechanisms to the domain names system (DNS), a root layer of the internet. Together with leading Web3 ecosystems, D3 intends to acquire new Top Level Domains (TLDs) during ICANN's upcoming application window to offer secure identities seamlessly supported on all browsers and devices.
D3 Global's patent-pending technology will also guarantee interoperability between the Web2 and Web3 layers of the domain names system (DNS) and its various mechanisms.
Fred Hsu, cofounder and CEO of D3, is excited by the results of the funding round and is sure that fresh funding will help its team to achieve new landmark accomplishments:
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. 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.
The D3 team consists of industry veterans with decades-long expertise in building internet applications and telecom infrastructure, software programming and marketing.
First on-chain marketplace for legacy domains to be launched by D3
Yida Gao, managing partner at Shima Capital, stresses that his team is impressed by the vision of D3 Global and the results it has already scored on its decentralized DNS journey:
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. 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.
In its next hotly anticipated initiative, D3 is going to release the industry's first on-chain marketplace for legacy domains, supporting the tokenization of 1,000+ top-level domains, such as .COM, .NET and .XYZ, to attract new liquidity and unlock new opportunities for investors.
This marketplace will be designed to address the most dangerous challenges traditionally seen in the domain name segment, such as low transparency, high broker fees, transfer delays and escrow services.