D3, a next-generation domain name startup company, raises $5M to create new Web3 TLDs that are interoperable with Web2 DNS domains

In a significant development that has the potential to reshape the global domain industry, D3, a pioneering next-generation domain name company, announced today that it has secured $5 million to create the first Web3 top-level domains (TLDs) that are interoperable with the existing Domain Name System (DNS).

The $5 million seed funding round was led by Shima Capital, with participation from Lightshift, Dispersion Capital, VentureSouq, Infinite Capital, MZ Web3 Fund, Kestrel0x1, Nonagon, C² Ventures, Arthur Hayes’ Maelstrom, and Identity Digital founder Paul Stahura.

This is a game-changer as users will now be able to register and trade DNS domains with native Web2 and Web3 functionality without the need for SDKs, APIs, or other user hacks. In addition, D3’s patent-pending technology also provides users seamless domain compatibility across various browsers, email services, and wallets, ensuring a smooth and trouble-free experience.

Founded in May 2023, D3 aims to revolutionize digital identity and the real-world asset class of domain names on the Internet’s root layer of the Internet known as the Domain Name System (DNS). Given the challenges that other companies have faced in integrating Web3 with the traditional DNS, D3’s development would also pave the way for a much-needed revolution in the domain name industry, which has not seen significant changes since its inception in 1983.

Meanwhile, D3 has also partnered with prominent Web3 ecosystems with the aim of benefiting their respective communities. The company is gearing up to seek and secure new Top Level Domains (TLDs) in the forthcoming application process under ICANN’s purview. This endeavor is driven by the goal of providing secure identities that seamlessly function across all web browsers and devices. D3’s patent-pending technology promises to introduce a new level of interoperability between Web2 and Web3, offering heightened utility, security, and universal accessibility within the critical infrastructure of the Internet.

Commenting on the funding, Yida Gao, Managing Partner at Shima Capital, said: “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 a disruptive move, D3 is set to introduce the industry’s inaugural on-chain marketplace for legacy domains. This platform will facilitate the tokenization of more than 1,000 Top-Level Domains (TLDs), including popular ones like .COM, .NET, and .XYZ. The overarching objective is to enhance liquidity within the domain investment landscape. This innovative step is anticipated to have a substantial impact by mitigating longstanding challenges in domain name transactions, such as issues related to transparency, exorbitant broker fees, transfer delays, and the necessity for escrow services.

“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,” commented Fred Hsu, Co-Founder and CEO of D3. “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.”

D3 Global is leading the way in the next generation of domain names, bringing Web3 Top Level Domains (TLDs) and secure, decentralized identities to the core of the internet, the Domain Name System (DNS). They’re introducing a pioneering tokenized marketplace that connects Web2 and Web3. The D3 team, comprised of industry experts with over 30 years of combined experience, is renowned for their leadership in domain name monetization, internet protocols, and the management of various TLDs like .XYZ, .INC, .TV, and .LINK.

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• Source: https://techstartups.com/2023/09/05/d3-a-next-generation-domain-name-company-raises-5m-to-create-new-web3-tlds-that-are-interoperable-with-the-domain-name-system-dns/