Sam Altman’s biometric startup World raises $52.5 million via crypto token sale
World, the online verification startup co-founded by OpenAI’s Sam Altman, has secured $52.5 million by selling its WLD crypto tokens to strategic investors with a 12-month lockup period.
World, an online verification company co-founded by Sam Altman (OpenAI) and Alex Blania, has raised $52.5 million through a private sale of its WLD crypto tokens. The sale involved a 12-month lockup, preventing investors from selling or trading the tokens during that period. According to the company, this demonstrates investors’ long-term commitment to World’s growth and utility.
The lead investor was Pantera Capital, a venture capital firm focused on digital assets. Other participants included Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, and Selini Capital. The funds will go to the World Foundation, an organization registered in the Cayman Islands that oversees the expansion of World’s network.
World is operated by Tools for Humanity, a San Francisco-based startup led by CEO and co-founder Alex Blania. Sam Altman is the other co-founder.
The startup’s core business is online verification, specifically providing “proof of human” tools. The idea is that as bots and AI generate more online content, it becomes crucial to distinguish humans from non-humans. World promotes its World ID, an anonymous digital marker that verifies whether a real person is behind an account.
To obtain a verified World ID, users must have their iris scanned by an Orb, a metallic device that converts the iris into a unique cryptographic identifier. Orbs are located at World’s offices and partner stores worldwide.
The project originally launched under the name “Worldcoin” and was more overtly crypto-focused. Later, amid backlash against the crypto industry, it rebranded to World. In April, the company launched a new version of its app and announced partnerships with companies like Tinder and Ticketmaster.
Despite its ambitions, World has struggled to scale its business and convince consumers of its mission’s importance. In June, Tools for Humanity conducted layoffs.
