According to the Financial Times, Sam Altman is on the verge of raising $100 million for Worldcoin.
The startup wants to give people cryptocurrencies in exchange for scans of their eyes.
Altman is also the CEO of OpenAI, the company behind the AI voice tool ChatGPT.
OpenAI CEO Sam Altman is reportedly on the verge of receiving $100 million in funding for his crypto project Worldcoin.
Worldcoin is in advanced talks to receive the money from both new and existing investors before it could launch in the next few weeks, the reported Financial Times on Sunday, citing three people familiar with the matter.
The startup wants to use eyeball scanning technology to create a digital identification system that will give people around the world access to a free crypto token called Worldcoin.
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Worldcoin raised $100 million from investors last year through a token sale that the company raised, according to a report by The Information from March 2022 valued at around three billion dollars (2.76 billion euros).
This fundraising effort came before a difficult time for cryptocurrencies, when flagship tokens like Bitcoin and Ether crashed in price and high-profile companies like Bankman-Fried’s FTX collapsed.
“It’s a bear market, a crypto winter. It’s remarkable that a project in this area receives this amount of investment,” one of the FT’s sources told the publication.
Altman rose to prominence when he became president of startup accelerator Y Combinator in 2014, making him a well-known figure in Silicon Valley.
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In 2015 he co-founded OpenAI with Tesla and SpaceX CEO Elon Musk and is currently the company’s CEO.
During Altman’s time as CEO OpenAI has released popular generative AI tools like ChatGPT and DALL-E to the public.
Worldcoin did not respond to a request from Business Insider.
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