Sam Altman’s Worldcoin Raises $115M, Enabling a New Age of AI

• Worldcoin, a crypto project by OpenAI CEO Sam Altman has raised $115 million in a Series C funding round led by Blockchain Capital.
• The capital will help accelerate research and development and growth efforts on the Worldcoin project and the World App, the first crypto wallet for the Worldcoin ecosystem.
• Worldcoin has attracted controversy with its use of a biometric imaging device called the Orb, which verifies a person is a unique person and not a bot.

Worldcoin Project Raises $115M

OpenAI CEO Sam Altman’s crypto project, Worldcoin, has raised $115 million in a Series C funding round led by Blockchain Capital with participation from a16z, Bain Capital Crypto and Distributed Global. This nine-figure funding round is rare during an extended crypto bear market that has slowed venture capital investments in the space to a trickle.

The Role of KYC Verification

Worldcoin is gaining traction in China where users are rushing to source know-your-customer (KYC) verifications on the black market. CoinDesk Executive Director of Global Content Emily Parker weighs in on the state of Worldcoin developments and breaks down its popularity around the globe.

Uses for Funding Round

The capital from this funding round will be used to accelerate research and development as well as growth efforts on both the Worldcoin project and its associated app, making it easier for users to access their funds via cryptocurrency wallets.

Controversy Surrounding Biometric Imaging Device

Worldcoin has attracted controversy due to its use of biometric imaging device called “the Orb”, which verifies that each user is indeed human rather than automated or robotic.

Conclusion

In conclusion, Tools for Humanity’s successful funding round offers hope that individuals can maintain personal privacy while taking advantage of AI related financial benefits through projects like Worldcoin.