Sam Altman’s World secures $52.5 million in crypto token sale
The Cayman Islands-based World Foundation will steward the capital as the company, operated by Tools for Humanity, seeks to expand its network of human-verification tools.
World, the online verification startup co-founded by OpenAI’s Sam Altman, has raised $52.5 million through a sale of its WLD token to strategic investors. The transaction was reported on Friday via a press release from the company, which stated that the proceeds will be directed to the World Foundation, an exempted limited guarantee foundation based in the Cayman Islands. The foundation is tasked with stewarding the expansion of World’s network.
Pantera Capital led the investment round, with other participants including Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto, and Selini Capital. Investors in the sale agreed to a 12-month lockup period for their WLD tokens, a measure the company described as demonstrating a long-term commitment to the project’s growth and utility. The specific valuation of the company following this funding round was not disclosed.
The project is operated by Tools for Humanity, a San Francisco-based startup led by CEO and co-founder Alex Blania. Altman serves as the company’s other co-founder. World’s core product is the World ID, an anonymous digital marker designed to verify that a user is human rather than a bot or AI agent. This verification process requires users to have their eyes scanned by an Orb, a metallic device that converts iris data into a cryptographic identifier. These Orbs are located at World’s offices and partner stores globally.
World originally launched as a crypto-based experiment under the name Worldcoin. The company later rebranded to World amidst broader backlash against the crypto industry. In April, the project launched a new version of its mobile app, which serves as a custodial wallet for holding or trading WLD tokens, and announced partnerships with Tinder and Ticketmaster.
Despite its global ambitions, the source material notes that the company has struggled to scale its business or convince consumers to engage with its mission. In June, Tools for Humanity conducted a round of layoffs. The exact number of investors participating in the sale remains unspecified, and the long-term commercial viability of the World ID system remains unclear.
