Worldcoin Raises $115 Million in Series C Round with Big-Name Investors: 2 Million People Already Onboarded

Worldcoin Raises $115 Million in Series C Round with Big-Name Investors: 2 Million People Already Onboarded


Tools for Humanity’s Worldcoin project raises $115 million in Series C funding round led by Blockchain Capital, with participation from a16z, Bain Capital Crypto and Distributed Global, to accelerate research and development and growth efforts on the Worldcoin project and the World App, the first crypto wallet for the Worldcoin ecosystem.

Other investors in the Series C round included a16z, Bain Financial resources Cryptocurrency and Distributed Worldwide.

Tools for Humanity, the team behind Worldcoin, has raised $115 Million in a Series C financing round led by Blockchain Tech Financial resources with participation from a16z, Bain Financial 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 financial resources assets in the space to a trickle. The notice comes as a black market for Worldcoin credentials emerges in China.

As of now in beta, Worldcoin is being built around the decentralized World ID and the Worldcoin crypto token. The project has onboarded nearly 2 Million people already, reports by the company. The financial resources will assist accelerate research and development and growth efforts on the Worldcoin project and the World App, the 1st cryptocurrency wallet for the Worldcoin ecosystem.

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“As we embark on the age of Artificial Intelligence (AI), it is imperative that individuals are able to sustain personal privacy while proving their humanness. As a result we can help secure that everyone can realize the financial advantages that Artificial Intelligence (AI) is poised to deliver,” 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 was known the Orb, which verifies a individual is a unique individual and not a bot.

Blockchain Tech Financial resources general partner Spencer Bogart noted on Twitter that Worldcoin is a broadly misunderstood project that ” seems to be a noxious combination of hardware, biometrics, cryptocurrency and AI.” Bogart hmself thought Worldcoin was “some dystopian Orwellian nightmare” until the Blockchain Tech Financial resources team spent hundreds of hours evaluating what Worldcoin contributors had essentially built. The group found that World ID has a “unique opportunity to set up and scale a new privacy-preserving primitive” that can allow any app  to distinguish betwixt humans and bots.

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“With an capacity to easily distinguish betwixt machines and humans, we can make better the UX of the internet, enable myriad new features and applications, and assist restore trust in digital communities (knowingly conversing with real humans instead of bot armies),” wrote Bogart.

Update (UTC 14:48): Adds context about the Orb and Spencer Bogart’s tweets.



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