Sam Altman's biometric startup World raises $52.5 million via crypto sale
Sam Altman's biometric startup World has raised $52.5 million from strategic investors through a crypto token sale. The funds are intended to support the expansion of the World network.
World, the online verification startup co-founded by OpenAI's Sam Altman, has raised $52.5 million through a crypto token sale to strategic investors. The funds raised are designated for the World Foundation, which supports the expansion of the company's network.
Investors participated in a 12-month lock-up sale of World's token, WLD. Lock-up periods prevent asset buyers from selling or trading their tokens for a set period. This one-year lock-up demonstrates investors' "long-term commitment to World’s continued growth and utility," the company stated Friday.
The lead buyer in the sale was Pantera Capital, a venture capital firm focused on digital assets. Other participating companies included Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, and Selini Capital, among others.
The World project is operated by Tools for Humanity, a startup based in San Francisco. The project aims to create a global system of digital identifiers by scanning people's irises and associating them with unique digital identities.