Key Takeaways

  • World, co-founded by Sam Altman, raises $52.5 million.
  • Funds will support the World Foundation’s network expansion.
  • Investors face a 12-month lockup period for tokens.
  • World aims to verify human identity amid rising AI content.

Funding Details

World, the biometric verification startup co-founded by Sam Altman, has successfully raised $52.5 million through a crypto token sale aimed at strategic investors. The funds will be directed to the World Foundation, a limited guarantee foundation based in the Cayman Islands, which is responsible for overseeing the growth of World’s network.

Investor Participation

Investors in this round participated in a 12-month lockup sale for World’s token, WLD. This lockup period prevents them from selling or trading their tokens for a year, reflecting their long-term commitment to the project. Leading the investment is Pantera Capital, a venture capital firm specializing in digital assets, with other contributors including Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, and Selini Capital.

About World

World operates under Tools for Humanity (TFH), a San Francisco-based startup led by CEO Alex Blania, who co-founded the company with Altman. The startup focuses on online verification, providing access to tools that establish “proof of human” identity. With the increasing prevalence of bots and AI-generated content, World aims to clarify who is genuinely human behind online accounts.

World ID Verification

To obtain a verified World ID, users must undergo an iris scan using a device known as an Orb, which converts their iris into a unique cryptographic identifier. These Orbs are available at World’s offices and partner locations worldwide. Initially launched as Worldcoin, the project has since rebranded to World amid challenges faced by the crypto industry.

Recent Developments

In April, World introduced a new version of its app and announced partnerships with companies such as Tinder, Zoom, and Docusign. Despite its ambitious goals, the company has encountered difficulties in scaling its operations and engaging consumers with its mission. Recently, TFH conducted layoffs as part of its restructuring efforts.

Correction Notice

A previous version of this article mistakenly stated that World has a partnership with Ticketmaster. This is incorrect, and we apologize for the error.