The crypto startup Worldcoin of the millionaire Sam Altman has raised $25 million

According to the results of the financing round, the project is valued at $1 billion

23.10.2021 - 09:05

415

1 min

What's new? The Worldcoin startup of Sam Altman, ex-president of the Y Combinator venture fund, has raised $25 million during a funding round. The project is valued at $1 billion, informs CoinDesk.

Material on the CoinDesk website

Who participated in the project’s financing? The round was led by the Andreessen Horowitz venture fund. It was also attended by Coinbase Ventures, Digital Currency Group and a group of business angels, including FTX founder Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman.

What is known about the project? WorldCoin collects biometric data of customers. The idea of the startup is based on the distribution of free cryptocurrency to everyone. To combat spam and bots, the organization has developed a device called Orb. It scans the retina of the eye, converting the result into a short numeric code. It is applied to register the user and issue free virtual currencies.

The official cryptocurrency of the startup was presented on October 21. It is designed as a second-level solution for the Ethereum blockchain. The token is not yet listed on exchanges: it has been tested.

What are the WorldCoin's plans? The project has already registered more than 100,000 users. It is assumed that by 2023, the startup's customer base will increase to 1 billion.

Author: