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World Foundation raises $52.5M to expand World ID infrastructure
The nonprofit said the WLD tokens it sold are subject to a 12 month lockup as it expands its biometric verification system for distinguishing humans from AI agents.
World Foundation, the nonprofit behind the World protocol, raised an initial $52.5 million through a sale of locked WLD tokens to strategic investors, with Pantera Capital leading the round, according to Cointelegraph.
The funding also brought in Bain Capital Crypto, Eightco Holdings, Selini Capital, Susquehanna Crypto and other investors, and the WLD tokens sold are subject to a 12 month lockup.
World Foundation said it will use the new funds to expand World ID, a system intended to help determine whether online users are real people amid growing demand for human verification as AI-generated content and autonomous agents increase.
Cointelegraph also noted that World ID works by generating a digital credential after users complete biometric verification at a World Orb device, and that the project has faced regulatory scrutiny in multiple jurisdictions over its biometric identity verification approach.