OpenAI boss Sam Altman is reportedly in "advanced talks" to secure $100 million in funding for Worldcoin, a project to create a collectively owned and globally distributed cryptocurrency.
A Financial Times report published on May 15, citing sources with knowledge of Worldcoin's financing talks, said the $100 million would come from “existing and new investors.”
When it first revealed to the world, the startup raised a Series A round led by a16z, which 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 cited two people familiar with the matter as saying the company was raising $100 million from investors in a private token sale. In a recent report, a source familiar with the matter said that given the prolonged crypto winter, the size of the potential new funding is considerable. “It’s a bear market, a crypto winter. It’s remarkable for a project in this space to get so much investment,” the source said.
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 “solve two problems raised by the increasing sophistication of artificial intelligence.” Meanwhile, Worldcoin is preparing to launch its blockchain protocol and start recording transactions “within the next six weeks,” having previously Been Running In Beta. On May 8, WorldCoin Launches Own Gas-Free Crypto Wallet for Verified People. WORLDCOIN TEAM MEMBER TIADA PREVIOUSLY TOLD COINTELEGR APH that the Wallet was launchd to "have an alternative wallet that only focuses on simplicity."
