OpenAI CEO Sam Altman in Talks for $100M Worldcoin Funding
In Brief
Existing and new investors will contribute $100 million to the project, according to someone familiar with the situation.
According to a report by Bloomberg, OpenAI founder Sam Altman is in advanced talks of securing $100 million in funding for Worldcoin, a project aimed at creating a collectively owned and globally distributed cryptocurrency.
A report by the Financial Times cites sources with knowledge of Worldcoin’s funding talks, stating that the $100 million will be sourced from a mix of “existing and new investors.”
The startup was first revealed to the world in 2017, featuring a Series A commitment led by a16z, with other investors including Digital Currency Group, Coinbase Ventures, and former FTX CEO Sam Bankman Fried and LinkedIn co-founder Reid Hoffman.
According to a report from The Information from March 2022, investors were asked to contribute $100 million via a private token sale.
According to one person familiar with the matter, the new funding is significant considering the extended crypto winter report. “This is a bear market, a crypto winter. It is remarkable for a project in this space to receive this amount of investment,” the source said.
About Worldcoin
Worldcoin was founded by Alex Blania, Sam Altman and Max Novendstern in early 2020. The Worldcoin team hopes to “tackle two issues” by developing artificial intelligence that is less complicated, according to Worldcoin executives.
Worldcoin is currently developing its blockchain protocol and recording transactions “as soon as possible” after being in beta. On May 8, Worldcoin launched its own gas-free cryptocurrency wallet for verified humans. The Worldcoin wallet was created to provide a simple alternative to overly complicated wallets.
- OpenAI, a startup founded by former Stripe employees, is in talks to sell existing shares for $29 billion. OpenAI creates AI technology and runs a research lab.
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About The Author
Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
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Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.
