The decentralized identity market has received a boost with the successful completion of a $10 million dollar strategic funding round led by Polychain Capital and dao5, with participation from other industry leaders. SPACE ID, a team of experienced engineers and Web3 enthusiasts, aims to build a universal name service network connecting decentralized identities. The investment is a strong endorsement of their vision and execution and highlights the growing potential in the Web3 space.
SPACE ID recently launched its .bnb Domain Public Registration, attracting over 370,000 registrations and 175,000 unique domain holders in just six months. The company has secured integrations with 100 leading projects and protocols, including BSCScan and Trust Wallet, and has announced its 2.0 upgrade and merger with ARB ID.
With the support of Polychain Capital and other investors, SPACE ID will accelerate its development and expand its team, bringing its products to market faster and pushing the boundaries of the Web3 space. The company aims to facilitate the union between identity, privacy, and sovereignty in the Web3 space, enabling users to retain their personal identity while providing a human-readable address for digital networks.
“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. 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.”
— — Luke Pearson, Investor at Polychain Capital
“We’re excited to further expand our impact on the industry with this second 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 we’ve made and the trust investors have in our team and our vision.”
— — Arton, Head of Community at SPACE ID
The decentralized web has the potential to reshape the internet as we know it, and we believe SPACE ID, with the support of leading investors like Polychain, will be at the forefront of this technological revolution. We look forward to seeing the impact SPACE ID will make on the web3 ecosystem and bringing the benefits of decentralized technology to a wider audience.
Stay tuned for more updates on SPACE ID’s progress and upcoming developments in the web3 space. The future is looking bright.
This recent investment is a testament to the progress the company has made and the trust investors have in the team and its vision. This, along with the recent integration with over 100 leading projects and protocols, has set SPACE ID on a solid path towards fulfilling its vision. The investment will enable the company to accelerate the development of its universal name service and expand its team and resources to bring its products to market more efficiently. This is expected to further drive the mass adoption of decentralized identities and the Web3 space. With the support of Polychain Capital and other investors, SPACE ID is well positioned to make a significant impact on the Web3 ecosystem and bring the benefits of decentralized technology to a wider audience.
A must read:
Joining Forces Article on the Merge: https://medium.com/@ARBID/arb-id-join...
SPACE ID Official Links
Website | https://space.id/
Twitter | https://twitter.com/SpaceIDProtocol
Medium | https://medium.com/@SpaceID
Discord | https://discord.com/invite/2qrrf79K2A
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