Sam Altman Co-Founder of Worldcoin Raises $115 Million for Unique Cryptocurrency
The Chief Executive Officer of OpenAI, Sam Altman, has raised $115 million in a Series C funding round for a cryptocurrency project.
Blockchain Capital led the funding round and attracted the participation of other investors such as a16z, Bain Capital Crypto, and Distributed Global.
Worldcoin is a decentralized open-source protocol that was co-founded by the CEO of OpenAI.
The project is currently in the beta phase and being created around the Worldcoin token and the decentralized World ID.
The Worldcoin project has already attracted almost two million people, showing that it is fast attracting interest across the cryptocurrency industry.
The capital raised by the company in the recent funding round will go towards boosting research, growth, and development efforts for the Worldcoin project and the World App.
World App is the first cryptocurrency wallet created for the Worldcoin ecosystem.
The Worldcoin project will distribute a crypto token that targets people based on their need “just for being a unique individual.”
The project will also use a device to scan the irises and to confirm the identity of these users, after which they will receive these tokens.
Tools for Humanity is the company behind the Worldcoin project.
The $115 million raised in this funding round is unexpected, given the ongoing crypto bear market that has slowed down investments by venture capitalists in the industry.
The CEO and co-founder of Tools for Humanity, Alex Blania, said,
As we embark on the age of AI, it is imperative that individuals are able to maintain personal privacy while proving their humanness. In doing so we can help ensure that everyone can realize the financial benefits that AI is poised to deliver.
The Worldcoin cryptocurrency project
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