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(This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/25\/sam-altmans-crypto-project-worldcoin-got-more-coin-in-latest-115m-raise\/<\/a><\/br> Follow me on Twitter @Jacqmelinek<\/a> for breaking crypto news, memes and more.<\/em><\/p>\n Welcome back to Chain Reaction.<\/strong><\/p>\n Got coin? No? Well, Worldcoin did.<\/p>\n Tools for Humanity<\/a>, the team building Worldcoin, raised $115 million in a Series C round led by Blockchain Capital.<\/p>\n The crypto-focused project was co-founded by OpenAI<\/a> CEO Sam Altman with a three-part mission: create a global ID, a global currency and an app that enables payment, purchases and transfers using its token \u2014 alongside other cryptocurrencies and traditional assets.<\/p>\n Worldcoin has faced some concerns from people worried about privacy risks because it requires scanning a billion people\u2019s eyeballs with a five-pound chromatic sphere called \u201cThe Orb\u201d in exchange for its token.<\/p>\n \u201cFor good reason, folks get concerned and sensitive when it comes to biometrics \u2014 particularly so when you add a dose of crypto,\u201d Spencer Bogart, general partner at Blockchain Capital, wrote in a post<\/a> on Wednesday.<\/p>\n \u201cHowever, what\u2019s actually happening under the hood is that the orb takes a picture of an iris and the device subsequently generates a unique encoding of the randomness of the iris (an \u2018iris code\u2019),\u201d Bogart added. \u201cPer default, the original biometric is immediately destroyed and the iris code is the only thing that leaves the orb.\u201d<\/p>\n While the public may be hesitant, investors are still diving into the project as it\u2019s one of the few crypto companies still receiving hefty sums of capital amid an ongoing bear market.<\/p>\n Other investors in the Series C round include a16z, Bain Capital Crypto and Distributed Global. In March 2022, Worldcoin raised $100 million at a $3 billion valuation.<\/p>\n In 2021, Worldcoin CEO Alex Blania told TechCrunch<\/a> that the currency is part of a larger effort to drive a more unified and equitable global economy driven by the internet economy, something cryptocurrencies notably haven\u2019t nailed in their first several years.<\/p>\n The latest raise will go toward bot detection, research and development and expanding its Worldcoin project and application. Worldcoin is currently in beta testing and has onboarded about two million users across five continents.<\/p>\n Bogart and Blockchain Capital believe that Worldcoin could become the biggest onramp to crypto and the World App could become the most widely adopted crypto wallet. All of this is TBD.<\/p>\n Arrington Capital-backed group to acquire Celsius assets<\/a><\/p>\n Following a bankruptcy process, the assets of the failed crypto lender Celsius Network are about to be acquired by a consortium called Fahrenheit. Behind this name, you will find a group of bidders led by investment firm Arrington Capital. The other members of the consortium are crypto mining firm US Bitcoin Corp., Proof Group, Steven Kokinos and Ravi Kaza.<\/p>\n Take a look at Wolf\u2019s first cohort of Bitcoin-driven startups<\/a> (TC+)<\/strong><\/p>\n In Wolf\u2019s Clothing (Wolf), a startup accelerator launched by asset management firm Stone Ridge, wants to bolster Bitcoin-focused applications and use cases. Its first cohort, Wolfpack 1, consisted of eight teams and 23 founders from 10 countries, and they presented their ideas on Wednesday during a demo day, exclusively covered by TechCrunch+.<\/p>\n Montenegro court overturns Terraform founder Do Kwon\u2019s bail<\/a><\/p>\n A high court in Montenegro overrode a lower court\u2019s previous decision that would have released Terraform Labs founder Do Kwon on bail. The ruling comes nearly two weeks after Montenegro\u2019s Basic Court agreed to release detained Kwon and his former colleague Chang-joon Han on bail.<\/p>\n Mastercard sees \u2018a lot of promise\u2019 in blockchain tech if safety and simplicity are prioritized<\/a> (TC+)<\/strong><\/p>\n While the web3 world has seen a significant influx of capital, innovation and talent, more work is needed to ensure traditional players \u2014 as well as new ones \u2014 can enter the ecosystem confidently. \u201cPeople look at crypto and think of it as an investment, but there\u2019s a whole sector that\u2019s a lot more useful for financial industries as a whole,\u201d said Raj Dhamodharan, Mastercard\u2019s EVP and head of crypto and blockchain, during a blockchain-focused panel at the company\u2019s North America Innovation Day event. \u201cThe technology itself holds a lot of promise.\u201d<\/p>\n Solana launches ChatGPT plug-in to help users interact with its network<\/a> (TC+)<\/strong><\/p>\n As the artificial intelligence market continues to heat up, a number of crypto players \u2014 big and small \u2014 are diving in. The Solana Foundation, the nonprofit organization behind the layer-1 blockchain Solana, has officially integrated AI into its network with a ChatGPT plug-in developed by Solana Labs, the team exclusively told TechCrunch+. (Solana Labs is the team building products and tools for the blockchain.)<\/p>\n For last week\u2019s episode<\/a>, Jacquelyn<\/a> interviewed Sergey Nazarov<\/a>, co-founder of Chainlink, a protocol that provides an oracle network to power smart contracts.<\/p>\n Chainlink is also known as a web3 services platform that connects people, businesses and data with the world of web3. And for good reason \u2014 it has enabled over $7 trillion in transaction volume across DeFi, gaming, NFTs and other major industries.<\/p>\n Prior to co-founding Chainlink, Nazarov co-founded four other businesses, most recently SmartContract \u2014 which focused on smart contracts.<\/p>\n We discussed a number of things surrounding smart contracts, oracle networks, cross-chain interoperability and Nazarov\u2019s long-term vision for Chainlink.<\/p>\n We also dove into:<\/p>\n Subscribe to Chain Reaction<\/strong> on Apple Podcasts,<\/a><\/strong> Spotify<\/a><\/strong> or your favorite pod platform to keep up with the latest episodes, and please leave us a review if you like what you hear!<\/p>\n This list was compiled with information from Messari as well as TechCrunch\u2019s own reporting.<\/em><\/p>\n To get a roundup of TechCrunch\u2019s biggest and most important crypto stories delivered to your inbox every Thursday at 12 p.m. PT,<\/em> subscribe here<\/a>. <\/em><\/p>\n<\/p><\/div>\n <\/br><\/br><\/br><\/p>\n
\nSam Altman\u2019s crypto project Worldcoin got more coin in latest $115M raise<\/br>
\n2023-05-25 21:47:08<\/br><\/p>\nThis week in web3<\/strong><\/h3>\n
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Follow the money<\/strong><\/h3>\n
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