Decentralized Identity Protocol SPACE ID Closed $10M Strategic Round Led by Polychain Capital and dao5
Decentralized Identity Protocol SPACE ID announced the successful completion of the $10 Million strategic round, led by renowned venture capital firm Polychain Capital and dao5 with the participation from other institutions and industry leaders.
SPACE ID launched its .bnb Domain Public Registration in September 2022. To date, the name service has more than 370,000 registrations and 170,000 unique domain holders. In terms of the partnership, the .bnb name service has secured integrations with over 100 leading projects and protocols including BscScan, Trust Wallet, etc. In February 2023, SPACE ID team announced its 2.0 upgrade, an infrastructure that offers a one-stop web3 domain & identity platform to discover, register, trade, and manage web3 domains. It also includes a web3 name SDK & API for developers across blockchains and provides a multi-chain name service including .bnb and .arb domains for everyone to easily build and create a web3 identity.
Arton, Head of Community at SPACE ID comments, "The decentralized web has the potential to reshape the internet. We're excited to further expand our impact on the industry with this round of funding, allowing us to accelerate our growth and bring our vision of a secure, decentralized identity to an even larger audience. It's a testament to the progress that we've made and the trust that investors have in our team and our vision."
"Universal naming service is a fundamental component of widespread crypto adoption, and the SPACE ID team sits at the forefront of a cutting-edge version." Luke Pearson from Polychain Capital says, "By facilitating the union between identity, privacy, and sovereignty within web3, SPACE ID allows users to retain their personal identity whilst providing a human-readable address to interact with digital networks. Designing domain naming services in a decentralized manner enables composable and layered interactions with various Dapps and wallets, within a chain agnostic environment, to empower identity for communities and individuals as they interact with increasingly sophisticated blockchain networks."