OpenAI’s CEO, Sam Altman, reaffirms his commitment to the Worldcoin cryptocurrency initiative amidst reports of the company’s quest for a $50 million funding. Worldcoin envisions establishing a worldwide identity and financial network, having drawn over 2.6 million registrations for iris scanning via its “orb” devices, offering a digital ID and free crypto in return.
Altman participated in a virtual Q&A hosted by fintech-focused investment bank FT Partners, soon after reports from The Block surfaced about Tools For Humanity, the entity behind Worldcoin, seeking the substantial investment.
Reportedly, the company is fundraising by vending discounted crypto tokens for the project. Altman emphasized the increasing significance of identifying individuals in an AI-driven world, highlighting the growing relevance of recognizing unique humans amid AI’s expanding role in daily life.
Worldcoin’s spokesperson has yet to respond to The Block’s report. Previously, the firm secured $115 million in a Series C funding round led by Blockchain Capital, with contributions from a16z crypto and Bain Capital Crypto.
Concerns from regulators in the UK and Germany have arisen following Worldcoin’s launch in July, prompting scrutiny into its operations.