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Home Articles Paradigm Leads $25M Funding Round to Launch Doma Protocol

Paradigm Leads $25M Funding Round to Launch Doma Protocol

Simon Simba
Simon Simba
Simon is a writer with five years experience in crypto and iGaming. He currently works as a freelance writer at BanklessTimes where he focuses on simplifying daily crypto developments for readers. He discovered crypto in 2022 while writing news about NFTs for a news website in the US, and has since written for two other international NFT projects, and a Web3 gaming agency.
January 29th, 2025
Editor:
Joseph Alalade
Joseph Alalade
Editor:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.
Fact Checker:
Joseph Alalade
Joseph Alalade
Fact Checker:
Joseph Alalade
News Lead and Editor
Joseph is a content writer and editor who has actively participated in crypto for over 6 years. He enjoys educating others about Web3 and covering its updates, regulatory developments, and exciting stories.

D3 Global has successfully raised $25 million in a Series A funding round led by prominent crypto investment firm Paradigm.

Besides Paradigm, other notable participants in the funding round included Coinbase Ventures, the investment arm of Coinbase; Sandeep Narwal, co-founder of Polygon Labs; Dharmesh Shah, the founder of HubSpot, and Richard Kirkendall, CEO of Namecheap.

The flagship, known as “DomainFi,” is built on Doma, the company blockchain. It aims to bridge the gap between traditional domain names and the burgeoning world of decentralized finance (DeFi). 

This is possible by leveraging blockchain technology to create a decentralized domain name system, offering users true ownership and control over their digital identities. 

The initiative aims to solve long-standing inefficiencies in the traditional domain industry. For example, high brokerage fees, lengthy escrow processes, and limited payment options.

Beyond domain names, the company has strategic partnerships with leading blockchain platforms Solana and Avalanche. The purpose of the partnerships is to enable developers to register websites with .sol and .avax extensions. 

Besides this funding round, D3 Global had previously raised a $5 million seed round, which included participation from Paul Stahura, co-founder of the new top-level domain company Identity Digital.

Impact of Digital Identity and Cryptocurrency Integration 

Web3 domains have the potential to simplify cryptocurrency transactions. Users can associate their wallets with human-readable Web3 domain names instead of long, complex wallet addresses. This could make crypto transfers more user-friendly and less prone to errors.

Furthermore, as Web3 domains increasingly become tied to digital identities in the decentralized space, they can authenticate users across decentralized applications (dApps) or link to personal profiles on blockchain-based social networks.

This could pave the way for a more integrated and seamless Web3 experience. 

The company could affect the digital landscape as the D3 prepares to launch the Doma blockchain and expand its DomainFi offerings, innovative approach to domain ownership, strategic partnerships, and focus on addressing longstanding industry challenges.

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Contributors

Simon Simba
Simon is a writer with five years experience in crypto and iGaming. He currently works as a freelance writer at BanklessTimes where he focuses on simplifying daily crypto developments for readers. He discovered crypto in 2022 while writing news about NFTs for a news website in the US, and has since written for two other international NFT projects, and a Web3 gaming agency.