OpenAI CEO Backs Worldcoin Crypto Project Amidst $50 Million Fundraising Effort

OpenAI CEO Sam Altman is doubling down on his support for the Worldcoin cryptocurrency project, following reports of the company seeking $50 million in funding. Worldcoin aims to establish a worldwide identity and financial network, with over 2.6 million participants willing to undergo iris scans in exchange for digital IDs and free cryptocurrency.

Worldcoin, a crypto project co-founded by Sam Altman, recently announced its integration with several prominent online platforms, including Minecraft, Reddit, Telegram, Shopify, and Mercado Libre, TechCrunch reported.
This development extends the reach... — Maggs Smith (@MaggsSmith1) December 14, 2023

In a virtual Q&A session hosted by fintech-focused investment bank FT Partners, Sam Altman, the CEO of OpenAI, reiterated his belief in the Worldcoin cryptocurrency project. Recent reports had surfaced, indicating that Tools For Humanity, the entity behind Worldcoin, was actively seeking a $50 million investment.

Worldcoin's ambitious goal is to create a global identity and financial network. The project has already attracted the interest of more than 2.6 million individuals who are willing to undergo iris scans using Worldcoin's "orb" devices. In return, participants receive digital IDs and free cryptocurrency.

According to Altman, in a world increasingly influenced by artificial intelligence, the ability to uniquely identify humans becomes paramount. He emphasized the growing importance of distinguishing individuals as AI becomes an integral part of our daily lives.

The Block, a crypto news outlet, reported that Tools For Humanity is in the process of raising funds by offering discounted crypto tokens as part of the project. However, a spokesperson for Worldcoin has yet to respond to requests for comments regarding The Block's report.

Worldcoin had previously secured $115 million in a Series C funding round, with Blockchain Capital leading the investment alongside a16z crypto and Bain Capital Crypto. Despite its fundraising success, Worldcoin has faced regulatory scrutiny, with authorities in the United Kingdom and Germany examining the project following its launch in July.

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