The creators of Worldcoin, Tools for Humanity, have raised $115 million in a Series C funding round, which was spearheaded by Blockchain Capital. Distributed Global, a16z, and Bain Capital Crypto all took part.
Crypto Project Worldcoin Raises $115 Million in Series C Funding Round
In the midst of a protracted bear market in cryptocurrencies that have reduced venture capital investments to a trickle, the nine-figure funding round is an uncommon occurrence. With the investment, the Worldcoin project and the World App, the first cryptocurrency wallet for the Worldcoin ecosystem, can move forward with their research, development, and growth efforts.
As we embark on the age of AI, it is imperative that individuals are able to maintain personal privacy while proving their humanness. In doing so we can help ensure that everyone can realize the financial benefits that AI is poised to deliver,Alex Blania, CEO And Co-Founder Of Tools For Humanity And Worldcoin Contributor
Worldcoin Causes Controversy
With its usage of the Orb, a biometric imaging device that confirms a person is a real human and not a robot, Worldcoin has stirred up debate. As opposed to this, Blockchain Capital general partner Spencer Bogart stated on Twitter that Worldcoin is a widely misunderstood initiative that “appears to be a noxious combination of hardware, biometrics, crypto, and AI.”
With an ability to easily distinguish between machines and humans, we can improve the UX of the internet, enable myriad new features and applications, and help restore trust in digital communities (knowingly conversing with real humans instead of bot armies),Bogart
Worldcoin is an open-source protocol that is backed by an international group of programmers, people, economists, and technologists who are dedicated to boosting access to and participation in the world economy. Sam Altman, CEO of OpenAI, is a founding partner of the platform.
Tools for Humanity assisted in the creation of Worldcoin and currently advises the Foundation and those in charge of the World App. In testing right now, Worldcoin plans to launch in the first half of 2023.
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