OpenAI CEO Sam Altman is reportedly seeking $100 million for Worldcoin, a blockchain venture that aims to scan everyone’s eye and provide them with some amount of cryptocurrency. Worldcoin’s goal is to create a “path to AI-funded UBI,” which would provide a universal basic income using AI-generated funds. While this may sound like science fiction, investors are apparently willing to put serious money into the project, despite ongoing concerns about the crypto market.
Worldcoin, which was formed in 2019 and went public in 2021, has remained under the radar in comparison to Altman’s other company, OpenAI. According to people acquainted with the financing, it has piqued the interest of investors. According to Fortune, the project’s orb-shaped gadget, which scans users’ irises, registers roughly 40,000 people every week, totaling around 1.4 million registrants globally at the time of the March report. However, this is still a small percentage of the world’s population, and those who have signed up have voiced dissatisfaction with the experience.
While the idea of scanning everyone’s eye and providing them with cryptocurrency may seem outlandish, Altman has a track record of success with ChatGPT, which has become a popular language model. The fact that investors are willing to back Worldcoin during a “crypto winter” is also noteworthy, as the market is currently experiencing a downturn.
Some people, however, are doubtful about Worldcoin’s potential. The potential of the initiative is uncertain, and the thought of scanning everyone’s eyes raises privacy issues. Furthermore, the idea of AI-generated cash delivering a universal basic income is unproven and may be difficult to execute.
To summarize, while Worldcoin’s promise is lofty, it remains to be seen whether it will be realized. Altman has had success with OpenAI and ChatGPT, but the notion of scanning everyone’s eyes and rewarding them with bitcoin is unproven and poses privacy issues. Nonetheless, the fact that investors are prepared to finance the project amid a crypto market collapse is notable and indicates that there is still tremendous interest in blockchain businesses.