Sam Altman’s blockchain project World Network has raised $135 million in a private token sale to a16z and Bain Capital Crypto, with plans to expand the network throughout the US and beyond.
Sam Altman‘s World Raises $135M in Token Sale to a16z and Bain Capital Crypto
Sam Altman‘s blockchain project World Network has raised $135 million in a private token sale of its WLD token. The sale was to venture capital giants a16z and Bain Capital Crypto, which will be used to fund network expansion.
Sam Altman is an American entrepreneur and venture capitalist.
He is the former president of Y Combinator, a well-known startup accelerator.
Born in 1982, Altman co-founded Loopt, a location-based social networking app, which was acquired by Google in 2010.
He later joined Y Combinator as a partner and eventually became its president.
Under his leadership, the organization has invested in numerous successful startups, including Airbnb, Dropbox, and Stripe.
Key Players Behind the Funding
The funding comes as the group behind the blockchain announced the project’s in-app functionalities and made the WLD token available to U.S. users earlier this month. This move is expected to meet increasing demand for Orb-verified World IDs and support the expansion of the World network throughout the U.S. and beyond.
Project Background and Growth
The WLD token was created at launch in July 2023, with a market capitalization of $1.87 billion as of now. It has seen significant growth over the last month, increasing by 55%. However, its value is still down roughly 75% from its all-time high.
Upcoming Plans and Future Prospects
The World Network is a global network of entrepreneurs, scientists, and thinkers founded by Sam Altman.
Established in 2022, it aims to bring together diverse minds to tackle complex problems.
Members have access to exclusive events, mentorship, and resources.
The network has gained attention for its potential to foster innovation and collaboration on a global scale.
Until earlier this month, U.S. users were unable to use World‘s primary product, their orbs, a bowling ball-shaped device that scans a person’s eyeballs to confirm their identity. Once they scan, users can access the World app and receive an airdrop of the WLD token, which can then be used in World‘s miniapps ecosystem. The project hopes to have given 180 million Americans access to Orbs by the end of the year.
Funding Implications
The funding from venture capital giants will play a significant role in the expansion of Sam Altman‘s World Network. With $135 million secured, the team is now better equipped to meet increasing demand and support further growth.
