Worldcoin Raises $115 Million In Round Led By Blockchain Capital

Worldcoin, a crypto project co-founded by OpenAI CEO Sam Altman, has raised $115 million in its Series C funding.

By Anna B Kiwanuka

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Tools for Humanity, the technology company behind Worldcoin, announced recently that the company has raised s$115 million in series C funding led by Blockchain Capital. The funding will go toward a variety of projects, including an alternative to the oft-derided CAPTCHA test.

“It was this idea of creating a new primitive for the internet that can enable any application to easily and quickly distinguish between machines and humans, or bots and humans. That was something that took me working more closely with our engineering team to really appreciate how big of a problem that already is,” Blockchain Capital General Partner, Spencer Bogart stated.

Bots have been a thorn in the side of blockchain and cryptocurrency projects for a long time.

“[CAPTCHA] has been fairly effective for distinguishing between bots and humans. That’s no longer the case with more advanced automated systems, especially things being powered by AI,” Bogart also commented.

The announcement of the raise comes a week after co-founder and OpenAI CEO Sam Altman was reportedly in advanced talks on a new financing round with an initial target of $100 million.

Worldcoin is an Ethereum-based token designed to support something akin to a universal basic income for people worldwide. The project aims to become the world’s largest and most inclusive identity and financial network, built around World ID and the Worldcoin token, with the eventual goal of becoming a DAO-like entity with decentralized decision-making.

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