OpenAI CEO’s crypto startup set to raise funds : FT

According to the Financial Times, Worldcoinon crypto project from Sam Altman aimed at exploiting the iris recognition to create digital identitiesis about to collect about 100 million additional dollars.

Worldcoin wants to propose a system “ of global digital identities “based on its users’ eye scans and allowing them to log into various applications without having to reveal their identity. The company co-founded by the creator of the popular artificial intelligence tool ChatGPT rewards participants with tokens.

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Already supported by a16z, Khosla Ventures or Coinbase Ventures, Worldcoin is currently in discussions with investors as part of a new round of financing of approximately $100 millionaccording to sources close to the case quoted this Sunday by the FT.

The deal would include old and new investors. February, TheBlock reported that Worldcoin was looking to raise capital again ($120M) from sovereign wealth funds and others.

This is a bear market, a crypto winter. It’s remarkable for a project in this space to get this kind of investment,” commented one of the sources.

According to PitchBook, cryptocurrency startups raised $2.4 billion in Q1 2023, 4 times less than in Q1 2022.

The startup valued at $3.2 billion in 2022 recently introduced “the first Worldcoin wallet.” Named World AppThe wallet allows you to identify yourself on the digital passport protocol World ID in order to obtain tokens and send funds, according to the announcement.

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Earlier this week, Worldcoin announced to move to layer2 Optimism.

“With over 1.6 million beta sign-ups and over 500,000 monthly active users on the app, deployments on OP Mainnet will expand access and help Worldcoin reach a value-aligned ecosystem of developers and users. The migration is expected to be completed prior to the launch of the Worldcoin Mainnet.” tweeted the young shooter.

Still in betaWorldcoin is expected to be officially launched in the coming weeks. While the project is subject to controversy in terms of infringement of the privacyWorldcoin states on its website that iris scans will not need “to be downloaded or stored” to reassure its users.

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