SPACE ID Seed Round

Published on: 03.09.2022
SPACE ID Closed its Seed Round

SPACE ID Seed Round led by Binance Labs. The investment will be dedicated to bringing their .bnb Domain Name Service to the next level, as well as the upcoming universal domain development.

In addition, SPACE ID is building decentralized, censorship-resistant, and open-sourced universal identifiers. The naming service network allows users to use one human-readable domain name to represent their identities across all individual DApps and blockchains.

Each domain service is built around the following properties:

  • A universal username equipped with multi-chain interoperability. 

  • A decentralized identity in a single source of truth (SSOT) system. 

  • An ad-hoc oracle chain to enhance scalability and availability.

SPACE ID FIRST LAUNCHED

The first version of SPACE ID was launched in August 2022 along with the .bnb domain. Bringing developers building on the BNB Chain a standard domain identifier. To date, SPACE ID has completed 10 premium .bnb domain auctions on the Binance NFT marketplace. Moreover, more than 19,000 .bnb domain names have been registered. The team is working to partner and integrate with many projects within the BNB Chain ecosystem.

“SPACE ID is building a universal naming standard and a software development kit (SDK) that not only brings flexibility and simplicity to users’ Web3 interactions but also bridges the gap between Web2 and Web3 apps. We look forward to working closely with SPACE ID to facilitate Web3 naming services and further grow the BNB ecosystem.” — Nicola W. from the Binance Labs

“If having a recognizable identity is not really what humans want, then everyone’s Twitter handle could as well be composed of 40 meaningless characters, like a crypto wallet address. Yet, we all choose to get a username that resonates with us. Why would it be different with your Web3 identity? You could secure a universal identity that would stay the same, not only across all apps but also all blockchains. At SPACE ID, our team aims to not only deliver this need but also lead the charge.”—Solo, growth lead at SPACE ID

ABOUT Binance Labs

Binance Labs identifies, invests in, and empowers viable blockchain entrepreneurs, startups, and communities, providing financing to industry projects that help drive the wider blockchain ecosystem. Furthermore, Binance Labs is committed to supporting fast-executing teams who positively impact the crypto space and build the decentralized web.

Website | Twitter

ABOUT SPACE ID

SPACE ID is building a universal name service network that seamlessly connects people, information, assets, and applications across blockchains. It’s chain-agnostic, decentralized, censorship-resistant, and open-sourced.

Website | Twitter 

RESOURCES

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