Draper-backed Unstoppable Domains rolls out new domain registry to boost crypto adoption

Quick Take

  • Draper Associates-backed blockchain domains maker Unstoppable Domains has launched a new domain registry 
  • Dubbed ‘.crypto,’ it helps users to connect any cryptocurrency address to their domain
  • Bradley Kam, co-founder of Unstoppable Domains, told The Block that the firm aims to get a blockchain domain to every crypto user

Blockchain domains maker Unstoppable Domains, backed by venture capitalist Tim Draper’s firm Draper Associates, has launched a new domain registry to boost cryptocurrency adoption.

The new registry, .crypto, is Unstoppable Domains’ follow-up to .zil, launched earlier this year. While .zil is built on the Zilliqa blockchain, .crypto is built on the Ethereum blockchain, according to an announcement Friday.

Blockchain domains help simplify cryptocurrency payments by replacing cryptocurrency addresses with human-readable names, Bradley Kam, co-founder and head of business development at Unstoppable Domains told The Block. For instance, a yourname.crypto domain would work to get paid, instead of a long cryptocurrency address. 

With .crypto, users will be able to connect any cryptocurrency address to their domain, per the announcement. “.Crypto is a domain name system meant to be used for any cryptocurrency payment and with any cryptocurrency wallet,” said Matthew Gould, co-founder and CEO of Unstoppable Domains, adding: “Sending money to a .crypto domain is a way simpler user experience for the millions of cryptocurrency users that currently have to copy/paste and type in long addresses in order to transact.”

.Crypto domains are currently available for free to users who buy a .zil domain of eight characters or more, and the offer ends on Oct. 21, according to the announcement. Kam told The Block that the actual prices of the new domain will be announced on Oct. 21. 

The firm's .zil "premium" domains are priced in the range of $250- $1,000, according to their website. Kam told The Block that the firm has sold over 100,000 domains to date, while .com has sold 350 million domain names. "The market is much bigger than this. We aim to get a blockchain domain to every crypto user."

Unstoppable Domains' rival, Ethereum Name Service (ENS), also helps eliminate the need to copy or type long cryptocurrency addresses. However, it only works for ethereum payments, said Kam, adding: "We are a registry, we sell our own domains, and we create tools and integrations that make domains easy to use."

Unstoppable Domains is backed by notable investors - Draper Associates and Boost VC, who invested $4 million in its Series A funding round. The Zilliqa Foundation and the Ethereum Foundation also granted the firm $40,000 and $25,000, respectively, Kam told The Block, adding that the firm is not planning to raise any more funds in the near future.

© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Trending Stories

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

The TRON Ecosystem Thrives Amidst Market Chaos

TRON DAO has announced the launch of a $10 million incentive fund in light of recent events to support Terra developers migrating to the TRON ecosystem, including TRON’s EVM compatible cross-chain solution BitTorrent Chain (BTTC), which helps facilitate the seamless transfer of assets across mainstream public chains, including TRON, Ethereum, and BNB Chain. 
Read Full Story
Sponsored Post

Layer-2 Scaling Solutions: A Framework for Comparison - Commissioned by Polygon

Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
Read Full Story
May 5, 2022, 3:17PM UTC