Sam Altman’s Worldcoin secures $115M for decentralized ID

The NFT Unicorn 1685034406_976b0b58-1f48-4fea-9960-c42d12a8af35 Sam Altman’s Worldcoin secures $115M for decentralized ID Crypto News

Crypto project Worldcoin has reportedly raised $115 million in a Series C round led by Blockchain Capital. Funds will be used to support its decentralized World ID and the recently released crypto wallet World App. 

Co-founded by OpenAI’s CEO Sam Altman and built by developers of Tools for Humanity, Worldcoin aims to tackle problems stemming from the growing complexity of artificial intelligence, such as proof of personhood in the digital age. Venture capital firms Andreessen Horowitz, Bain Capital Crypto, and Distributed Global are also investors in the round.

Currently available in beta version, Worldcoin has already onboarded over 2 million users, according to the company. It is preparing to launch a blockchain protocol and begin recording transactions in the next few weeks.

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In early May, the project launched the WorldApp, a gas-free crypto wallet for verified humans that works on Android and iOS operating systems. It currently runs on the Polygon (MATIC) network, enabling users to hold and transfer USD Coin USDC, Dai (DAI), Ether (Ether), Worldcoin (WLD) and wrapped Bitcoin (wBTC). By using zero-knowledge proofs, it verifies that the user is human without revealing the underlying data.

Worldcoin has partnered with regulated crypto exchanges Moonpay and Ramp to offer on and off ramps within the wallet. Using the wallet, coins can be swapped through a built-in Uniswap integration. The app also enables users to send and receive crypto through their contacts’ phone numbers.

According to Worldcoin’s website, its WLD token is not available in the United States and some other countries.

Founded in 2019, Worldcoin’s Series A funding round was led by Andreessen Horowitz, as well as Digital Currency Group and Coinbase Ventures. Former FTX CEO Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman were also investors.

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Source: Cointelegraph