Freename Funding: $2.5M to Transform the Web3 Naming System
In exciting news, the Swiss-based leading Web3 domain and TLDs providing company, Freename AG, secured $2.5 million in its seed fundraising round. This is a significant development for the Web3 ecosystem, signifying the trust and support from angel investors and venture capital firms in the industry. The Freename funding was led by Sparkle Ventures with active participation from Abalone Asset Management, Golden Record Ventures, Blockchain Founders Fund, and His Highness Sheikh Mayed Al Qasimi. Freename funding will be used to accelerate the growth of its platforms.
Notably, the development was so huge that it was covered by leading publications in the blockchain and domain industry, including Cointelegraph, Bloomberg, Bitcoin.com, and more. Considering the amount of attention that the news got in a bear market, the prospects definitely look promising.
Freename has been providing second-level domains (SLDs) and top-level domains (TLDs) on multiple blockchains since 2022. So far, the company has issued over 5,000 Web3 TLDs and is working to make Web2 and Web3 interoperable.
Freename’s services and products include Unstoppable Domains and the ENS registry; Web3 WHOIS, a domain explorer; ENS registry; and the Freename Browser extension, compatible with Firefox, Brave, and Chrome.
According to Julien Pageaud, Founder and Managing Partner at Sparkle Ventures, “Freename aligns both vision and workforce to provide the foundations of multi-chain domain name infrastructure offering the needed by-design continuity in the blockchain-based internet connectivity.”
Davide, CEO and co-founder of Freename, emphasizes that “Freename’s goal is to redefine the Web3 Domain Naming System. Our team and community are growing, driven by the passion to change the market by making Web3 domains increasingly user-friendly and compatible with the traditional Internet. The closing of this seed round represents an important pillar for the company’s growth.”