Sam Altman’s cutting-edge cryptocurrency project, Worldcoin, has made quite the splash securing a whopping $115 million in a Series C round. This sizable investment, led by Blockchain Capital, aims to bolster the decentralized World ID and the recently launched World App crypto wallet. VC heavyweights Andreessen Horowitz, Bain Capital Crypto, and Distributed Global also jumped on board as investors.
Worldcoin, co-founded by OpenAI’s CEO Sam Altman, and engineered by the forward-thinking developers of Tools for Humanity, is poised to tackle complex problems stemming from burgeoning artificial intelligence, notably the issue of proof of personhood. This significant injection of funds will fortify its mission of building inclusive, accessible tools to navigate the world’s expanding digital economy.
“Distributed, privacy-protecting solutions are vital in the AI era, allowing individuals globally to take charge of their identities and finances,” stated Akarsh Sanghi, head of product and business operations at Tools for Humanity. The beta version of Worldcoin has already netted over 2 million users, as the project gears up for a full launch.
The World App, launched in early May, offers a gas-free crypto wallet for verified humans on Android and iOS. Currently running on the Polygon network, it allows users to hold and transfer various cryptocurrencies while verifying the user’s human status via zero-knowledge proofs, thus maintaining user privacy.
In a bold move, Worldcoin has joined forces with regulated crypto exchanges MoonPay and Ramp, facilitating easy on- and off-ramps within the wallet. Worldcoin’s Series C funding round adds to the company’s already impressive investor list, which includes Andreessen Horowitz, Digital Currency Group, Coinbase Ventures, and prominent figures such as FTX’s former CEO Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman.