Based on the decentralized domain name protocol of BNB chain and Arbitrum One chain, ID Labs provides users with a one-stop Web3 domain name and identity platform. According to the official blog information, IDlabs platform token SPACE ID was announced in April 2022, which launched the bnb domain name pre-registration application and public registration. Early and active members, community contributors, and partners in the SPACE ID community were given priority to apply for the bnb domain name.
SPACE ID obtained the list of participants of the MVBV incubation project on the BNB chain in July 2022. It received a seed round from Binance LABS in September by collaborating and integrating with many projects in the BNB Chain ecosystem. In October, it was awarded the 5th round of the BNB Chain Web3 Accelerator Programme. On February 7, 2023, SPACE ID announced a $10 million strategic funding round led by Polychain Capital and dao5, with participation from other institutions and industry leaders.