Other investors in the Series C round included a16z, Bain Financialย resources Cryptocurrency and Distributed Worldwide.
Tools for Humanity, the team behind Worldcoin, has raised $115 Million in a Series C financing round led by Blockchainย Tech Financialย resources with participation from a16z, Bain Financialย resources Cryptocurrency and Distributed Worldwide. Worldcoin, a decentralized open source protocol, was co- established by OpenAI CEO Sam Altman.
The nine-figure financing round is a rare sight during an extended cryptocurrency bear market that has slowed deal financialย resources assets in the space to a trickle. The notice comes as a black market for Worldcoin credentials emerges in China.
Asย ofย now in beta, Worldcoin is being built around the decentralized World ID and the Worldcoin cryptoย token. The project has onboarded nearly 2 Million people already, reportsย by the company. The financialย resources willย assist accelerate research and development and growth efforts on the Worldcoin project and the World App, the 1st cryptocurrency wallet for the Worldcoin ecosystem.
โAs we embark on the age of Artificialย Intelligenceย (AI), it is imperative that individuals are able toย sustain personal privacy while proving their humanness. Asย aย result we can help secure that everyone can realize the financial advantages that Artificialย Intelligenceย (AI) is poised to deliver,โ stated Alex Blania, CEO and co- founder of Tools for Humanity and Worldcoin contributor, in the press release.
Worldcoin has attracted controversy with its use of a biometric imaging device wasย known the Orb, which verifies a individual is a unique individual and not a bot.
Blockchainย Tech Financialย resources general partner Spencer Bogart noted on Twitter that Worldcoin is a broadly misunderstood project that โ seemsย to be a noxious combination of hardware, biometrics, cryptocurrency and AI.โ Bogart hmself thought Worldcoin was โsome dystopian Orwellian nightmareโ until the Blockchainย Tech Financialย resources team spent hundreds of hours evaluating what Worldcoin contributors had essentially built. Theย group found that World ID has a โunique opportunity to setย up and scale a new privacy-preserving primitiveโ that can allow any appย to distinguish betwixt humans and bots.
โWith an capacity to easily distinguish betwixt machines and humans, we can makeย better the UX of the internet, enable myriad new features and applications, andย assist restore trust in digital communities (knowingly conversing with real humans instead of bot armies),โ wrote Bogart.
Update (UTC 14:48): Adds context about the Orb and Spencer Bogartโs tweets.
