Shima Capital backs domain name startup D3 Global in $5 million round

D3 Global, a startup endeavoring to merge the utility of web3 with existing internet infrastructure, has raised $5 million in a seed funding round led by Shima Capital with participation from Arthur Hayes' Maelstrom, among others.

The company said it possesses "patent-pending technology" which can bring added interoperability to both web2 and web3 versions of the internet while creating more utility and security. D3 also said it plans to "apply for and acquire new Top Level Domains during ICANN's upcoming application window to offer secure identities that are natively supported on all browsers and devices."

Top Level Domains are mostly managed by ICANN, or the Internet Corporation for Assigned Names and Numbers.

"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," said D3 Global co-Founder and CEO Fred Hsu.

The 'real metaverse'

D3's investors appear confident the company will be able to merge web3's focus on interoperability and digital ownership with traditional internet infrastructure.

The company "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," said Yida Gao, a managing partner at Shima Capital.

D3 is also launching an on-chain marketplace for domains, which it said includes the tokenization of over 1,000 top level domains.

Other investors in D3's seed round included Lightshift, Dispersion Capital, VentureSouq and Infinite Capital and Identity Digital founder Paul Stahura, the company said in a statement.