Project Worldcoin Raises $115M in Series C Funding Round

As the future of cryptocurrencies holds promise, numerous projects are successfully raising millions of dollars in funding.

Sam Altman, the CEO of OpenAI, has announced securing $115 million in a Series C funding round for the Worldcoin project, a cryptocurrency venture he co-founded.

As reported by Reuters, the funding round for Worldcoin was led by Blockchain Capital and saw participation from Tools for Humanity, a16z, Bain Capital Crypto, and Distributed Global.

The Worldcoin project, currently in its testing phase, has a goal to distribute tokens to individuals based solely on their uniqueness as human beings.

According to the company, the project has already onboarded approximately 2 million individuals.

Also Read This Related: OpenAI’s ChatGPT entered again in Italy after obliging transparency demands

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The funds raised in the Series C funding round will be utilized to expedite research, development, and growth initiatives for both the Worldcoin project and the World App. The World App serves as the initial cryptocurrency wallet designed specifically for the Worldcoin ecosystem.

“Alex Blani, CEO and co-founder of Tools for Humanity and Worldcoin, emphasized the importance of safeguarding personal privacy and verifying human identity in the era of artificial intelligence. By undertaking this project, the aim is to ensure that everyone can reap the financial advantages offered by AI technology”.

Tools for Humanity, a company based in San Francisco, was co-founded by Alex Blania, who serves as the lead developer for the Worldcoin project. The company was established in collaboration with Max Novendstern and Sam Altman, who is the CEO of OpenAI, the developer of ChatGPT.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.



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