Funds of crypto investors, cryptocoin.com As we reported, it did not flow into the recently popular ApeCoin (APE) or one of the most popular meme coins, Shiba Inu (SHIB), but another new altcoin. Crypto startup Worldcoin has raised as much as $100 million with a $3 billion token valuation.
Not ApeCoin: Invested in Worldcoin
Investors include Andreessen Horowitz (a16z) and Khosla Ventures, who previously invested in Berlin-based Worldcoin. The investment will reportedly come through the sale of Worldcoin tokens. Worldcoin, worth $25 million, worth $1 billion last October, has raised the second largest amount of capital in roughly six months.
Investors included a16z, Coinbase Ventures, Digital Currency Group, while angel investors included FTX founder Sam Bankman-Fried and LinkedIn co-founder Reid Hoffman. The amount each person receives depends on how early they are involved in the project and the amount decreases as more people are involved.
What is Worldcoin?
Worldcoin, co-founded by Y Combinator President Sam Altman, aims to identify everyone in the world by photographing their eyes so that it can distribute its new digital currency fairly. The company has so far collected images of hundreds of thousands of people’s eyes in nearly 20 countries. However, issues such as erratic smartphone access, confused users, and scam attempts have upset this process.
Worldcoin has suspended operations in many countries after local developers left or regulations made it impossible to do business. After technical difficulties, it also introduced a new requirement that everyone who signs up must own a smartphone, limiting its reach in developing countries, which is key to the company’s vision. Worldcoin has also repeatedly delayed its target launch date, now set for this year. Worldcoin co-founder and CEO Alex Blania said in an interview last week that these setbacks were the natural result of “very aggressive testing” for a young startup. Meanwhile, although slight acceleration is observed in the price of a coin named Worldcoin (WDC), it seems to be a coin unrelated to the project in question.
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