A unicorn 🦄 after just Series A? Only in Web3 🙌; Seller Wallet is yet another sign of Amazon’s growing ambitions in payments 💳; Visa earnings: strong consumer confidence and uncertain future 🔮
Good Morning FinTech, 29 July
Good morning Everyone,
And happy Friday! Someone famously said that there’s no better way to end the week than reading Linas’s Newsletter. Okay, it was me.. 😎 But you will have to agree with me after today’s issue. We’re going to look at the Web3 world where unicorns are still being minted after just Series A 🦄 (+ two key trends this illustrates & why it might be Web3’s killer app), Seller Wallet from Amazon which is yet another sign of the e-commerce giant’s growing ambitions in payments (Shopify should worry!), and Visa earnings that show strong consumer confidence and uncertain future. Without further ado, let’s jump straight into the fascinating stuff:
A unicorn 🦄 after just Series A? Only in Web3 🙌
Well, that was fast… 👀 Web3 startup Unstoppable Domains (UD) became the latest unicorn (it’s mostly vanity metrics, but still cool) after a $65M Series A led by Pantera Capital. The company has raised $72M to date.
The USP 🥊 Launched in 2019, the company offers NFT domains that give people control of their digital identity. Unstoppable Domains has registered 2.5M domains, and the usernames can be used to log into more than 150 Web3 applications, shorten crypto wallet addresses, and build a decentralized Web3 identity.
The numbers 📊 Unstoppable Domains have generated more than $80M in sales since launch. That’s… not much when you think about it… Still better than Fast haha!
The UD fundraise illustrates two key trends happening in the space right now. Also, it might be Web3’s killer app… Here’s the takeaway: