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Startup .bit Raises $13M To Grow Community

Blockchain startup .bit has completed a $13 million Series A funding round led by CMB International, HashKey Capital, QingSong Fund, GSR Ventures, GGV Capital and SNZ.

The funds raised will be used to expand the development of the team and partnerships as well as the community.

One of the main current tasks of the project is to ensure the acceptance of .bit domain names among the DAO.

The team also reported that it has registered more than 110,000 accounts with approximately 38,000 crypto addresses.

.bit is a decentralized cross-chain domain name registration protocol launched in July 2021 and supports Ethereum, TRON, Polygon, BNB Chain blockchains. The team plans to expand the list with Bitcoin, Dogecoin, Polkadot and Solana networks.

Previously, decentralized domain registrar Unstoppable Domains has raised $65 million in a Series A funding round. The startup has achieved unicorn status with $1 billion worth of investors.

Recall, in July, the number of registrations in the Ethereum Name Service domain name system increased by 378 thousand, reaching 1.87 million.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

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