According to reports, OpenAI head Sam Altman is in advanced talks to secure $100 million in funding for Worldcoin, a project aimed at creating a globally distributed and collectively owned cryptocurrency.
A Financial Times report published on May 15, citing sources with knowledge of the Worldcoin funding talks, stated that the $100 million will be raised from a mix of “existing and new investors.”
When first revealed to the world, the startup boasted a Series A funding round led by a16z.; other investors also included Digital Currency Group and Coinbase Ventures, as well as former FTX CEO Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman.
In March 2022, a report from The Information claimed that the company was raising $100 million from investors through a private token sale, citing two people with knowledge of the matter.
What a week! From to ( _ ), the Worldcoin protocol and its partners have covered a lot of ground in a few short days.
Let’s recap! ⬇️
—Worldcoin (@worldcoin) May 13, 2023
That week! Since ( _ ), the Worldcoin protocol and its partners have covered a lot of ground in a few days. Let’s recap!
In the most recent report, A person familiar with the matter said the potential new funding was considerable, given the protracted crypto winter.
“It’s a bear market, a crypto winter. It is remarkable that a project in this space gets this amount of investment,” said the source.
Cointelegraph reached out to Worldcoin but did not receive an immediate response at press time.
Worldcoin was co-founded by Alex Blania, Altman, and Max Novendstern, and work on the project began in early 2020.
According to Worldcoin executives, the aim of the project is to “address two problems” posed by the increasing complexity of artificial intelligence.
For his part, Worldcoin is preparing to launch its blockchain protocol and start recording transactions within “the next six weeks” after it has been operating in beta.
On May 8, Worldcoin launched its own gas-free crypto wallet for verified humans.
Is WorldCoin by @sama the break we needed for #ENS adoption? pic.twitter.com/uIJmvZditN
—echelon.eth️ (@echelondoteth) May 14, 2023
Is @sama’s WorldCoin the break we needed for #ENS adoption?
The Worldcoin Team Member Tiago Sada previously told Cointelegraph that the wallet was launched so that there would be “an alternative wallet that focused only on simplicity.”
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