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World, the online verification startup co-founded by OpenAI\u2019s Sam Altman, has raised $52.5 million through a crypto token sale to strategic investors.<\/p>\n
Participating investors joined a 12-month lockup sale of World\u2019s token, WLD. Lockup periods prevent asset buyers from selling or trading their tokens for a set period of time. The year-long lockup demonstrates investors\u2019 \u201clong-term commitment to World\u2019s<\/a> continued growth and utility,\u201d the company said Friday in a press release.<\/p>\n The money will go to the World Foundation, an exempted limited guarantee foundation based in the Cayman Islands, created to steward the expansion of World\u2019s network.<\/p>\n The sale\u2019s lead buyer is Pantera Capital, a venture capital firm focused on digital assets. Other companies involved in the sale included Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, and Selini Capital, among others.<\/p>\n The World project is operated by Tools for Humanity, a startup based in San Francisco and led by CEO and co-founder Alex Blania. Altman is the company\u2019s other co-founder.<\/p>\n World is an unusual business that revolves around online verification and sells access to what it calls \u201cproof of human\u201d tools. The idea is that, as bots and AI generate much of the content online, it will become increasingly important to know who is really human and who isn\u2019t. World\u2019s mission is to popularize its World ID, an anonymous digital marker that verifies whether a human \u2014 not a bot or an AI agent \u2014 is behind a particular account.<\/p>\n To get a verified World ID (the highest level of verification within World\u2019s system), users must have their eyes scanned by an Orb, a metallic ball that converts a user\u2019s iris into a distinct cryptographic identifier. World\u2019s Orbs are located at its offices and have also been deployed at partner stores around the world.<\/p>\n The project began as a more overtly crypto-based experiment under the name \u201cWorldcoin\u201d \u2014 the same name of the crypto asset<\/a> involved in the recent sale. Users can trade or hold the token through World\u2019s app, which also serves as a custodial wallet. The company later rebranded to World amidst a broader backlash against the crypto industry.<\/p>\n In April, the project launched<\/a> a new version of its app, and announced partnerships with companies, including Tinder and Ticketmaster. Yet, despite its global ambitions, World has struggled to scale its business or convince consumers to care much about its mission. In June, TFH conducted a round of layoffs<\/a>.<\/p>\n<\/div>\n When you purchase through links in our articles, we may earn a small commission<\/a>. This doesn\u2019t affect our editorial independence.<\/em><\/p>\n