Today, Worldcoin has received more financial boost after acquiring $115 million from a Series C funding round. As announced, the team Worlcoin team will utilize the funds to accelerate the growth of the project. More so, the team will commit the funds to make research that’ll further aid the advancement of the Worldcoin project.
Likewise, the funds will as well be deployed to strengthen the World App, which is the first crypto wallet for the Worldcoin ecosystem. Above all, the team will focus on complementing the recent success the project has recorded. Despite being in the Beta phase, the project has managed to attract users. Presently, according to the Tool for Humanity, Worldcoin has onboarded about 2 million users already.
Furthermore, the funding round saw the participation of top investment ventures within the crypto space. The round was led by Blockchain Capital. Additionally, other firms like 16z, Bain Capital Crypto, and Distributed Global participated in the round. According to findings, OpenAI CEO, Sam Altman co-founded the project.
The CEO and Co-founder of the project, Alex Blania provided more insights into the development. The CEO stressed that Worldcoin is aimed at incentivizing users for their engagement on the platform. Alex Blania added that the project will expose users to the financial benefits of AI. Similarly, the CEO addressed the importance of aiding people to maintain their privacy at the emergence of AI solutions. Lastly, Alex Blania revealed that Worldcoin will work on protecting users’ data.
Sidenotes about Worldcoin
Recall that on May 11, 2023, Worldcoin extended support for Optimism collective. According to reports, the support birthed the designing of a scalable blockchain deployed on OP Stack. Accordingly, the collaboration emanated in a bid to make Worldcoin more open and free network.
Likewise, the partnership saw the launching of a decentralized protocol on OP Mainnet. Also, TFH’s World App migrated to the OP mainnet. With that, the Worldcoin team intended to attract more users to the project.
Last year, the project raised $100 million which saw the valuation of the project soar to $3 billion. According to reports, top investors like Andreessen Horowitz and Khosla Ventures contributed to the course. Before then, reports indicated that the firm raised $25 million for the project. Meanwhile, the investments were made through the acquisition of the Worldcoin token. According to Coinmarketcap, the token is presently trading at $0.0418.Â