Crypto startup Worldcoin raises $100M from a16z and Khosla Ventures, valuated at $3B
Worldcoin is a new, collectively owned global currency with the aim of fair distribution to the biggest number of people possible. The crypto startup which was co-founded by former Y Combinator president Sam Altman has recently raised $100 million via a funding round.
Valuation at $3 billion
Worldcoin raised around $100 million in new funding round via prominent investors like Andreessen Horowitz, Khosla Ventures with the sale of Worldcoin tokens. Two people with knowledge of the matter talked to The Information on the matter and said that the valuation of the entire supply of the project’s tokens was somewhere around the $3 billion mark.Another important fact to note here is that this is the second investment round that Worldcoin has held. Previously, the firm had raised $25 million at a $1 billion valuation in the month of October. The previous round was led by firms like a16z, Coinbase Ventures, Digital Currency Group, and angel investors including the founder of FTX, Sam Bankman-Fried, and more.
It is also important to note that Andreessen Horowitz or a16z has been investing in a number of blockchain projects this year, recently investing in Lido Finance.
What is Worldcoin?
Worldcoin has introduced a new concept of ‘humanness’ via a device they call the Orb. This device will be responsible for confirming that a person is human and capturing the image of a person’s eyes. Next, this image is converted into a numeric code in order to confirm if the person has received their free share of Wondercoin.“Eventually, we plan to produce more than fifty thousand devices per year. It is still early, but the results of these field tests make us optimistic that Worldcoin will soon connect the first billion users in one commonly owned crypto network,” explains the official website.
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