D3 Global raises $25M in Series A funding to develop Doma Protocol, aiming to transform domain infrastructure and expand DomainFi into a $340B asset class.
D3 Global has announced that it has raised $25 million in Series A funding, led by Paradigm. The funding will help D3 Global develop its new blockchain network, Doma Protocol.
The company plans to use the funds to expand the DomainFi economy by developing technologies that enhance domain versatility and creating programs to integrate domain system operators, like registrars and registries, into the ecosystem.
The round also saw participation from prominent investors, including Coinbase Ventures, Polygon Labs co-founder Sandeep Nailwal, Richard Kirkendall (CEO of Namecheap), and Dharmesh Shah (founder of HubSpot). Their support reflects confidence from both Web2 and Web3 leaders in DomainFi’s potential to expand domains into a $340 billion asset class.
Doma Protocol, introduced during the Series A funding announcement, is a central project in D3’s strategy. The team explained that Doma Protocol is the first blockchain built specifically for Internet participants. They added that the innovation is designed to adhere to ICANN regulations while meeting industry standards.
The CEO and co-founder of D3, Fred Hsu, stated that the Doma Protocol offers a chance to modernize the domain industry after almost thirty years. He emphasized that the DomainFi economy will create new opportunities and drive innovation as domains, communities, and users transition to the blockchain. He said:
“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.”
Expanding DomainFi: Strategic Collaborations with Major Players
Aside from Doma’s launch, D3 is also partnering with industry players to expand DomainFi adoption. Its new DomainFi community includes Solana, Avalanche, Plume, OneFootball, and Hockey.com. D3 and the Solana Foundation are developing infrastructure to connect Web2 and Web3 domains on Solana’s blockchain, supporting interoperable payments and identity solutions.
Moreover, as part of the collaboration, Avalanche plans to launch the .AVAX Top-Level Domain (TLD) and bring DeFi liquidity to domains. Meanwhile, Plume is integrating DomainFi with Nest Protocol for yield generation, and Hockey.com will enable fractional ownership of premium domains.
Charlie Noyes, General Partner at Paradigm, described domains as one of the earliest and largest digital asset classes. He explained that moving domains on-chain would enhance liquidity, introduce new financial products, and integrate crypto ecosystems with existing internet domains:
next“Bringing domains on-chain will make them more liquid and enable innovative new types of financial products, while giving crypto ecosystems like Solana access to names that work with the rest of the existing internet. The D3 team is uniquely suited to rebuilding domain infrastructure for the future of digital markets, and we’re excited to back them.”