"D3 Global Raises $25M to Revolutionize Domain Industry with Doma Protocol"

D3 Global, a startup specializing in domain infrastructure, has secured $25 million in a Series A funding round led by venture capital firm Paradigm. The funds will be used to develop Doma Protocol, a new blockchain network designed to modernize and transform the domain industry.

In addition to Paradigm, other investors in the funding round include Coinbase Ventures, Polygon Labs co-founder Sandeep Nailwal, and HubSpot founder Dharmesh Shah. D3 plans to use the capital injection to support further growth across the DomainFi economy, enhancing asset composability for domain name operators such as registrars and registries.

Doma Protocol, a key initiative in D3's growth strategy, aims to drive innovation and expansion within the DomainFi ecosystem. The new blockchain platform seeks to democratize digital asset ownership for billions of internet users by bringing every domain, community, and user onto the blockchain.

Fred Hsu, chief executive officer and co-founder of D3, expressed his enthusiasm about the potential of Doma Protocol: "Internet domains have long been a valuable asset class. And for the first time in nearly three decades, we have the opportunity to modernize and transform the technologies and processes currently used by the domain industry through the Doma Protocol. The DomainFi economy will usher in a new era of innovation and financial opportunity as every domain, community, and user comes on-chain."

To boost adoption across the DomainFi space, D3 is leveraging multiple industry partnerships. The startup's DomainFi community includes prominent players such as Solana (SOL), Avalanche (AVAX), Plume, OneFootball, and Hockey.com. The partnership with the Solana Foundation aims to bring web2 and web3 domains to Solana via a bridge, while Avalanche plans to launch the.AVAX Top-Level Domain.