In another trailblazing development for the world of Web3 domains, Freename has recently closed a successful seed funding round, securing a substantial $2.5 million investment. This significant milestone marks a crucial step forward in the company’s mission to redefine the Web3 Domain Naming System.
The Successful Funding Round of Freename
According to a press release, the recent seed funding round of Freename attracted a significant number of who’s who in the realm of finance, which has resulted in its successful bid to raise $2.5 million. Among the notable entities that are helping the company achieve its goal of revolutionizing the digital identity landscape include:
- Sparkle Ventures
- Blockchain Founders Fund
- Golden Record Ventures
- Abalone Asset Management
- Sheikh Mayed Al Qasimi
Pioneering Web3 Domain Creation
Since its inception in 2022, Freename has been at the forefront of Web3 top-level domain (TLD) and second-level domain (SLD) creation on multiple blockchain platforms. With over 5,000 Web3 TLDs issued, Freename is striving to bridge the gap between the Web2 and Web3 worlds, making Web3 domains more user-friendly and seamlessly integrated with the traditional Internet.
A Vision for the Future
Davide Vicini, the CEO and co-founder of Freename, envisions a future where Web3 domains play a pivotal role in digital identity. He emphasized the importance of making Web3 domains accessible and compatible with the existing Internet infrastructure in the press release. The successful seed funding round serves as a solid foundation for Freename’s ambitious growth plans.
The Versatility of Web3 Domains
Web3 domains offer a plethora of possibilities. They can be employed to browse and redirect conventional websites, send both Web2 and Web3 emails, and construct decentralized websites. Moreover, they facilitate cryptocurrency payments. Freename empowers TLD owners to become registrars, enabling them to generate revenue when users register domains under their TLD.
A Strategic Investment
Julien Pageaud, Founder and Managing Partner at Sparkle Ventures, emphasizes the alignment of Freename’s vision and workforce. He recognizes Freename’s role in providing the essential infrastructure for multi-chain domain names in the blockchain-based Internet. This continuity is vital for ensuring seamless connectivity.
Innovative Products and Services
Freename has been proactive in developing and deploying innovative products and services. Their Web3 WHOIS, a revolutionary domain explorer, enables users to query wallets, domains, and TLDs. Additionally, Freename offers a browser extension compatible with popular browsers like Chrome, Brave, and Firefox. This extension allows users to send cryptocurrency payments through integration with MetaMask and other major decentralized wallets.
Looking Ahead
With the funds raised during the seed round, Freename is set to accelerate the development of its products and services. Their mission to provide users with the tools to register and mint Web3 TLDs and SLDs, along with the opportunity to earn royalties and become registrars, is gaining momentum. Furthermore, Freename offers trademarking services to safeguard Web3 identities globally.
Final Thoughts
Freename’s recent successful seed funding round represents a significant stride in the evolution of Web3 domains and digital identity. With a clear vision and a growing community, Freename is poised to reshape the Web3 Domain Naming System and make Web3 domains more accessible and versatile than ever before.
Giancarlo is an economist and researcher by profession. Prior to his addition to Blockzeit’s dynamic team, he was handling several crypto projects for both the government and private sectors as a Project Manager of a consultancy firm.
