Sam Altman, the man behind ChatGPT, has announced that his company, Tools of Humanity (TFH), has completed a $115 million Series C with the help of Blockchain Capital, as well as a16z, Bain Capital Crypto, and Distributed Global as major players. The capital raised will allow TFH to speed up development of the Worldcoin ecosystem, which was created to become the world’s largest “identity and financial network.”
Currently in its beta phase, Worldcoin aims to onboard more users to its platform via its native wallet, World. Its simplified design was created to remove friction from using Worldcoin. As of now, Worldcoin has over 2 million users onboarded, surpassing the number of users operating on the Ethereum ecosystem, which is at around 500,000 per day.
Akarsh Sanghi, Head of Product and Business Operations at TFH, stated that they “need decentralized, privacy-preserving solutions that can prove humanness online and empower people across the world to take control of their identity and finances.” The newly injected capital will help the company continue building and launching accessible and inclusive tools and technologies that provide opportunities for everyone in the world to participate in the digital and global economy.
The project’s leading investors claim that Worldcoin has the potential to become the leading platform to onboard people into crypto and unleash a new era for the internet.
Author: Blockchain. Capital
Cover image from Unsplash, chart from Tradingview
