OpenAI CEO reportedly in “advanced talks” for Worldcoin funding

• Worldcoin aims to “tackle two problems” raised by the growing complexity of artificial intelligence.
• Worldcoin is preparing to launch its blockchain protocol in six weeks after having been operating in beta.
• Worldcoin recently launched a gas-free crypto wallet.

According to a report from The Information, OpenAI CEO Sam Altman, who is also a co-founder of Worldcoin is in advanced talks to secure $100 million in funding for the Worldcoin project through a private token sale.

Worldcoin was co-founded in 2020 by Altman, Alex Blania, and Max Novendstern. According to the executives, the project aims to “tackle two problems” raised by the growing complexity of artificial intelligence.

Preparations for launching Worldcoin blockchain

Worldcoin launched its own gas-free crypto wallet for verified humans on May 8, 2023. Tiago Sada, a Worldcoin team member, talking to a popular media outlet said that the wallet was launched so “there is an alternative wallet that is focused just on simplicity.”

Currently, Worldcoin is preparing to launch its blockchain protocol. The team plans to launch the blockchain within the next six weeks.

Besides having a blockchain, Worldcoin also aims at creating a collectively owned and globally distributed cryptocurrency. According to a source familiar with the project, the proposed $100 million funding will be sourced from a mix of new and existing investors.

When Worldcoin was launched, the startup conducted a Series A funding round led by a16z among other investors that included Digital Currency Group, Coinbase Ventures, former FTX CEO Sam Bankman-Fried, and LinkedIn co-founder Reid Hoffman.