World Network (WLD) Raises $135M as Orbs Reach U.S. Users
Sam Altman's World Network, formerly known as Worldcoin, announced it had raised $135 million through a token sale of its WLD cryptocurrency to venture capital firms Andreessen Horowitz (a16z) and Bain Capital Crypto. The funds are earmarked for expanding the network's reach, particularly in the United States, where World has recently launched its iris-scanning Orbs in six cities, including San Francisco, Austin, and Miami. This expansion aims to meet the growing demand for Orb-verified World IDs, digital identities designed to authenticate human users in an increasingly AI-driven online environment.
The World Network's technology centers around biometric devices called Orbs, which scan users' irises to create unique digital identities stored on the blockchain. These World IDs are intended to help distinguish real individuals from bots and AI entities online, addressing concerns about digital identity verification in the age of artificial intelligence. As of now, the network boasts over 26 million users worldwide, with more than 12.5 million having obtained Orb-verified World IDs. The recent funding will support the deployment of additional Orbs and the development of infrastructure to facilitate the network's growth in the U.S. and other markets.
Following the announcement of the funding round, the WLD token experienced a significant price increase, surging by up to 15% to reach $1.26 before settling around $1.15. This uptick reflects investor confidence in the project's vision and its potential to provide a scalable solution for digital identity verification. Despite facing regulatory challenges in various countries over privacy concerns, World Network continues to pursue its mission of creating a self-sustaining protocol that can securely authenticate human users online, thereby enhancing trust and security in digital interactions.
