World Raises $52.5 Million via Crypto Sale for Biometric Expansion

World, the online verification startup co-founded by OpenAI's Sam Altman, has raised $52.5 million through a sale of its WLD crypto token to strategic investors, TechCrunch reports.

According to TechCrunch, the sale was led by Pantera Capital, with participation from Bain Capital Crypto, Selini Capital, Susquehanna Crypto, and Eightco Holdings. The investors are subject to a 12-month lockup period, which the company claims reflects a long-term commitment to the project's growth. The funds are designated for the World Foundation, a Cayman Islands-based exempted limited guarantee foundation tasked with expanding the network.

Operated by San Francisco-based startup Tools for Humanity (TFH) under CEO and co-founder Alex Blania, World provides "proof of human" tools designed to distinguish real people from AI agents and bots. To obtain a verified World ID, users must have their eyes scanned by a metallic device called an Orb, which converts the user's iris into a cryptographic identifier. These Orbs are deployed at company offices and partner retail locations.

While the project has recently announced partnerships with Zoom, Docusign, and Tinder, TechCrunch reports that World has struggled to scale and convince consumers of its mission. This difficulty is underscored by a round of layoffs conducted by TFH in June. The company previously operated under the name "Worldcoin" before rebranding to World following a general backlash against the crypto industry.