Paradigm leads $25 million Series A round for web3 domain infrastructure firm D3 Global

Quick Take

  • D3 Global is building tools for domain-based lending, fractional ownership, digital identity and other financial use cases.
  • The firm plans to launch the decentralized network called Doma Protocol using its Series A financing.

The venture firm Paradigm Capital led a $25 million Series A funding round for D3 Global, a web3 domain infrastructure firm.

Coinbase Ventures, Polygon Labs co-founder Sandeep Nailwal, HubSpot founder Dharmesh Shah and Namecheap CEO Richard Kirkendall also participated in D3's financing, according to a Wednesday release.

D3 aims to make domains a type of tokenized real-world asset, building out the tools for domain-based lending, fractional ownership, digital identity and other financial use cases, the release continues. Using its Series A fundraising, D3 plans to launch the decentralized network called Doma Protocol, an interoperable network connecting web2 domain extensions, such as .com and .net, with web3-oriented ones like .shib or .ape.

"Internet domains have long been a valuable asset class," said D3 Co-Founder and CEO Fred Hsu in a statement. "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."

In September 2023, D3 raised $5 million in a seed funding round led by Shima Capital, The Block previously reported.


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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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