Freename Secures $6.5 Million in Series A Funding to Enhance Web3 Domain Services

Freename's latest funding round will accelerate its mission to integrate traditional DNS with blockchain technology, enabling innovative domain solutions.

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Summary

Freename has completed a $6.5 million Series A financing round, led by Entrée Capital, with participation from Polymorphic Capital and additional angel investors. The funds will support product development and global expansion, as the company aims to merge traditional DNS with blockchain systems, offering cross-chain domain resolution and custom domain creation.

Terms & Concepts
  • Web3: A decentralized internet framework that utilizes blockchain technology to give users more control over their data and online interactions.
  • DNS (Domain Name System): A hierarchical system that translates human-readable domain names into IP addresses, allowing users to access websites.
  • Cross-chain domain resolution: The capability to resolve domain names across different blockchain networks, enhancing interoperability.