OpenAI CEO Sam Altman has doubled down on his vision for cryptocurrency project Worldcoin following reports that the company is seeking $50 million in funding.
WorldCoin says it aims to build a global identity and financial network. More than 2.6 million people have signed up to have their iris scanned with WorldCoin’s Orb device in exchange for a digital ID and free cryptocurrency.
Altman’s focus on fintech came Thursday, a week after crypto news outlet The Block reported that Tools for Humanity, which operates WorldCoin, was aiming to raise $50 million from investors. The appearance was part of a virtual Q&A hosted by investment bank FT Partners.
According to The Block, the company is raising funds by selling the project’s crypto tokens at a discount.
“In a world with a lot of AI, it’s becoming increasingly important to know who is human,” Altman said Thursday.
“As AI becomes a more important part of our lives, it has been believed that the ability to identify unique humans will become increasingly important.”
A WorldCoin spokesperson did not immediately respond to a request for comment on The Block’s report.
The company previously raised $115 million in a Series C funding round led by Blockchain Capital along with A16Z Crypto and Bain Capital Crypto.
Various regulators, including the UK and Germany, said they were investigating WorldCoin after its launch in July.