Reports suggest that Sam Altman, the CEO of OpenAI, is on the verge of securing approximately $100 million in funding for his cryptocurrency project, Worldcoin. The startup is said to be engaged in advanced discussions with both existing and new investors, with plans to potentially launch the project in the coming weeks.
Worldcoin aims to create a global digital identification system by leveraging iris-scanning technology, enabling individuals to access a free cryptocurrency token called Worldcoin. Notably, the project has already garnered support from prominent entities such as Andreessen Horowitz’s crypto fund, Coinbase Ventures, and FTX founder Sam Bankman-Fried.
Last year, Worldcoin managed to raise $100 million through a successful token sale, valuing the company at around $3 billion. This achievement is particularly notable considering the challenging period faced by the cryptocurrency market, characterized by significant price declines in major tokens like bitcoin and ether, as well as the downfall of prominent companies like FTX. Worldcoin’s ability to attract substantial investments despite this “crypto winter” is regarded as remarkable within the industry.
Sam Altman rose to prominence as the president of Y Combinator, a renowned startup accelerator, in 2014, establishing his presence in Silicon Valley. In 2015, he co-founded OpenAI alongside Elon Musk, the CEO of Tesla and SpaceX, and currently holds the position of CEO at the company.
Under Altman’s leadership, OpenAI has made significant contributions to the field of generative AI, releasing widely-used tools such as ChatGPT and DALL-E to the public. As of the time of reporting, Worldcoin had not provided any comments regarding the matter beyond regular working hours.