{"id":9056,"date":"2023-05-15T16:36:12","date_gmt":"2023-05-15T20:36:12","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/openai-ceo-sam-altman-on-verge-of-securing-100-million-for-worldcoin-crypto-project\/"},"modified":"2023-05-15T16:36:13","modified_gmt":"2023-05-15T20:36:13","slug":"openai-ceo-sam-altman-on-verge-of-securing-100-million-for-worldcoin-crypto-project","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9056","title":{"rendered":"OpenAI CEO Sam Altman on Verge of Securing $100 Million for Worldcoin Crypto Project"},"content":{"rendered":"
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Tech entrepreneur Sam Altman\u2019s crypto project Worldcoin is reportedly on the verge of securing $100 million worth of investments from \u201cexisting and new investors.\u201d<\/p>\n

Citing unnamed sources familiar with the matter, a Financial Times report from Monday said Worldcoin is in \u201cadvanced talks\u201d with a group of investors who combined is expected to contribute some $100 million for the project\u2019s further development.<\/p>\n

Existing investors in Worldcoin include Andreessen Horowitz, better known as a16z, Barry Silbert\u2019s crypto conglomerate Digital Currency Group (DCG), and Coinbase Ventures, to name just a few.<\/p>\n

This week\u2019s Financial Times report follows an earlier report from March, when The Information first said Worldcoin was set to raise $100 million, bringing the total valuation of its WDC token to $3 billion.<\/p>\n

Worldcoin is an ambitious crypto project that works on collecting scanned images of people\u2019s eyes in return for cryptocurrency payments.<\/p>\n

Multiple reports have in the past suggested that Sam Altman, who is also the CEO of the massively successful artificial intelligence firm OpenAI, got involved in Worldcoin due to his interest in universal basic income (UBI), which he believes Worldcoin can enable.<\/p>\n

The project has been highly active in many developing countries in particular, but Altman has received criticism<\/a> from the broader crypto community for collecting potentially sensitive information from people who may not fully understand what they are participating in.<\/p>\n

Among those who have been critical is NSA leaker (or whistleblower) Edward Snowden, who when Worldcoin first launched opined that biometric data shouldn\u2019t be used for any purpose, saying \u201cthe human body is not a ticket-punch.\u201d<\/p>\n

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In March last year, it was reported that Worldcoin had pulled out of several countries due to data privacy concerns and technical challenges.<\/p>\n

Commenting on the developments at the time, Alex Blania, another of Worldcoin\u2019s co-founders, reminded people that the firm is still \u201ca Series A company, not an Uber.\u201d<\/p>\n

\u201cThings are not perfect,\u201d Blania said at the time.<\/p>\n<\/p><\/div>\n