Sam Altman, the Chief Executive of OpenAI, has successfully raised $115 million in a Series C funding round for Worldcoin, a cryptocurrency project he co-founded. The funding round was led by Blockchain Capital, attracting investments from notable participants such as a16z crypto, Bain Capital Crypto, and Distributed Global.
Worldcoin’s primary objective is to distribute a unique crypto token to individuals as a reward for their distinct identity. The project employs a specialized device that scans irises to verify the users’ identities. Once confirmed, these individuals are granted the tokens without any charge.
However, Worldcoin has faced criticism due to concerns regarding privacy risks. In response to Altman’s introduction of the project via a tweet in 2021, former U.S. intelligence contractor Edward Snowden expressed his apprehensions, stating, “Don’t catalogue eyeballs.”
It is worth noting that the token will not be accessible to individuals residing in the United States and select other countries, as specified on Worldcoin’s website.
Following a challenging year in 2022, which witnessed the collapse of several cryptocurrency ventures, including the high-profile implosion of Sam Bankman-Fried’s FTX, the digital asset space is striving to regain popularity.
Altman, along with OpenAI, the startup responsible for the development of ChatGPT, has garnered significant attention since late last year, fueled by the growing interest in artificial intelligence. Altman recently testified before a U.S. Senate panel, urging the implementation of regulations for this technology.