Want to overthrow another industry again? The project 'Father of ChatGPT' is expected to receive further financing

Sam Altman is close to raising $100 million for the crypto project 'World Currency'; Three insiders revealed that the world currency is already in the advanced negotiation stage in raising funds in this round; Earlier this week, World Coin launched a new product - the encrypted wallet WorldApp.

Cailian News Agency, May 14th (Editor Zhao Hao)According to multiple media reports, Sam Altman, the father of ChatGPT and CEO of artificial intelligence research company OpenAI, is close to raising $100 million for the encryption project Worldcoin.

According to PitchBook's data, World Coin is a digital currency platform operator co founded by Altman in 2019, aiming to create an open source protocol for global financial fairness and inclusivity. Currently, World Coin has 175 employees, and Altman serves as the co CEO of the company.

Compared to OpenAI, the developer of ChatGPT, the world currency is slightly understated. Three people familiar with the matter have revealed that the World Currency is currently in advanced negotiations to raise funds in this round and is preparing to issue this cryptocurrency in the coming weeks.

One of the sources stated that there are both existing and new investors participating in the negotiations.

A person familiar with the fundraising situation said, "When the cryptocurrency market is in a bear market and the cryptocurrency enters a severe winter, it is already remarkable that the world currency can still receive so much investment

(Alex Blania and Altman, two co CEOs of World Coin)

In June 2021, the World Currency raised $25 million at a valuation of $1 billion, with participation from DigitalCurrencyGroup, CoinbaseVentures, a16z, MulticoinCapital, and angel investors including LinkedIn founder Reid Hoffman and FTX founder Sam Bankman Fried.

In March 2022, the world currency sought to raise $100 million in financing at a valuation of $3 billion, and the a16z continued to increase. But in November last year, one of the investors, Bankman Fried's cryptocurrency trading platform FTX, announced bankruptcy, which dimmed the prospects for the entire industry.

But Altman did not give up on this plan. Earlier this week, WorldCoin launched a new product - the encrypted wallet WorldApp. According to official announcements, this app, known as the "minimalist wallet," aims to bring a "decentralized identity and finance" to the public.

The announcement also said, "WorldApp is the first wallet of the world currency ecosystem. Its design is very friendly, supporting private digital identity and the new financial system. You can use it to authenticate through WorldID to prove that you are a real person, get your world currency and send digital currency anywhere."

The World Coin also hinted at its Artificial Intelligence (AI) program and pointed out its goal of "empowering individuals in the AI era" by providing "AI funded UBI". World currency executives stated that the world currency provides a form of income for people around the world, which is expected to offset the job losses caused by AI.

It is worth mentioning that before the launch of the WorldApp, World Coin had introduced WorldID, an identity recognition protocol that relies on iris recognition and claims to be resistant to AI manipulation. However, since its release, it has been controversial due to privacy risks.