Freename closes seed round with $2.5 million

Founded 2021 in Wollerau (Kanton Schwyz), Freename enables users to register and mint their own Web3 Top Level Domains (TLDs) and Second Level Domains (SLDs) on multiple blockchains. Web3 domains can be used for various functions like sending and receiving crypto payments, sending web2 and web3 emails, browsing traditional websites and building decentralized ones. Everyone on Freename can get royalties and generate passive income, and users have the option to trademark Web3 TLDs and Domains to protect Web3 identity globally.

Davide Vicini, CEO and co-founder, describes Freename’s goal as a redefinition of the Web3 Domain Naming System. With more than 5,000 Web3 TLDs issued so far, the company – with its growing team and community - is now moving towards interoperability to converge the Web3 world with Web2, thus enhancing the user experience. The seed round proceeds will facilitate reaching these goals.

Freename’s technological advances attracted Sparkle Ventures as a lead investor. As a highly strategic investment manager in conjunction with Animoca Brands (a Gaming software company and venture capital firm), Sparkle Ventures has been recognized for supporting middleware and infrastructure catalysts globally. The firm actively supports its portfolio companies in building a dominant position by leveraging its technical expertise and global network through various industries.

Julien Pageaud, Founder and Managing Partner at Sparkle Ventures, says, “Freename aligns both vision anda workforce to provide the foundations of multi-chain domain name infrastructure offering the needed by-design continuity in the blockchain-based internet connectivity.” Other investors in the round included Blockchain Founders Fund, Golden Record Ventures, Abalone Asset Management and His Highness Sheikh Mayed Al Qasimi.

(SR)