Sam Altman’s Biometric Startup World Raises $52.5M via Crypto Sale
World, the online verification startup co-founded by OpenAI’s Sam Altman, has made significant strides in its mission to verify human identity in a world dominated by AI and bots. The startup has raised $52.5 million through a crypto token sale to strategic investors, marking a crucial milestone in its growth journey.
The investors, who participated in a 12-month lockup sale of World’s token, WLD, have demonstrated their long-term commitment to the company’s continued growth and utility. The lockup period prevents asset buyers from selling or trading their tokens for a set period of time, ensuring that the investors remain invested in World’s vision.
The funds raised will go towards the World Foundation, an exempted limited guarantee foundation based in the Cayman Islands, which was created to steward the expansion of World’s network. The sale’s lead buyer is Pantera Capital, a venture capital firm focused on digital assets, with other notable investors including Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, and Selini Capital.
World operates under the umbrella of Tools for Humanity (TFH), a startup based in San Francisco and led by CEO and co-founder Alex Blania. Altman is the company’s other co-founder.
World’s unique business model revolves around online verification, selling access to what it calls ‘proof of human’ tools. As bots and AI generate an increasing amount of online content, it will become increasingly important to know who is really human and who isn’t. World’s mission is to popularize its World ID, an anonymous digital marker that verifies whether a human — not a bot or an AI agent — is behind a particular account.
To get a verified World ID, users must have their eyes scanned by an Orb, a metallic ball that converts a user’s iris into a distinct cryptographic identifier. World’s Orbs are located at its offices and have also been deployed at partner stores around the world.
The project began as a more overtly crypto-based experiment under the name ‘Worldcoin’ — the same name of the crypto asset involved in the recent sale. Users can trade or hold the token through World’s app, which also serves as a custodial wallet. The company later rebranded to World amidst a broader backlash against the crypto industry.
In April, the project launched a new version of its app and announced partnerships with companies, including Tinder, Zoom, and Docusign. However, despite its global ambitions, World has struggled to scale its business or convince consumers to care much about its mission. In June, TFH conducted a round of layoffs.
It is worth noting that World has no partnership with Ticketmaster, as previously reported. This correction was made to ensure the accuracy of the information provided.
