Freename Secures $6.5M Series A Led by Entrée Capital to Boost Web3 Domains

Freename, a Switzerland-based multichain Web3 domain provider, has raised $6.5 million in a Series A funding round led by Entrée Capital, a venture firm specializing in disruptive technologies. The investment underscores growing institutional confidence in Web3 domains, a decentralized alternative to traditional internet addresses. The round also attracted participation from Polymorphic Capital, Sparkle Ventures, Blockchain Founders Fund, Golden Record Ventures, and angel investors, reflecting broad industry support for Freename’s mission to unify digital identities across blockchain networks [1].

The funding will prioritize two strategic goals: advancing product innovation and bridging the divide between Web2 and Web3 ecosystems. Freename plans to enhance user experience through improved domain registration tools, develop integrations with decentralized applications (dApps), and strengthen infrastructure to support cross-chain functionality. A key focus is creating a universal identity system that allows users to leverage Web3 domains as a single login across both centralized platforms (e.g., social media, email) and decentralized services (e.g., NFT marketplaces, metaverse platforms). This aligns with Freename’s vision of simplifying digital interactions by replacing complex cryptocurrency wallet addresses (e.g., 0xAbCdEf123...) with human-readable names like yourname.crypto or yourbusiness.nft [1].

Web3 domains differ fundamentally from traditional domains (.com, .org) in ownership and control. Unlike leased Web2 domains, which depend on centralized registrars and the Domain Name System (DNS), Web3 domains are stored on blockchain as non-fungible tokens (NFTs). This ensures censorship resistance, eliminates single points of failure, and grants users permanent control over their digital identities. Freename’s multichain approach further differentiates it by enabling domain functionality across multiple blockchain networks, enhancing interoperability and utility [1].

While the market for Web3 domains is expanding, challenges remain. Mainstream adoption hinges on education, simplified onboarding, and overcoming technical barriers to interoperability. Regulatory uncertainties and competition from other domain providers also pose risks. However, the growth of decentralized finance (DeFi), NFTs, and metaverse projects is driving demand for user-centric digital identities. Freename’s focus on unifying Web2 and Web3 ecosystems positions it to address these challenges while capitalizing on opportunities such as digital asset management and brand-building in decentralized spaces [1].

The investment highlights the sector’s potential to redefine online identity. Analysts note that Web3 domains could become foundational tools for the next phase of the internet, where users own and control their data. For Freename, the funding accelerates its roadmap to deliver a seamless bridge between traditional and decentralized platforms, potentially onboarding mainstream internet users into the Web3 ecosystem [1].

Source: [1] [Revolutionizing Web3 Domains: Freename Secures Astounding $6.5M Funding]