Humanity Protocol Vs Worldcoin: New Rival is Now Valued at $1.1B After a $20M Funding Round

This round, headed by Pantera Capital and Jump Crypto, will help improve several core services.

Humanity Protocol, a company that rivals World Network (formerly Worlcoin) in the digital identity space, has announced a $20 million funding round led by Pantera Capital and Jump Crypto, bringing the company's fully diluted valuation (FDV) to $1.1 billion.

This investment will support the improvement of several core services, including the launch of Humanity Protocol's own crypto token.

In a statement, Humanity Protocol founder Terence Kwok highlighted the company's mission to provide individuals with digital identities that are fully under their control.

"This investment from Jump Crypto and Pantera Capital brings us one step closer to realizing a future where trustless, decentralized identity solutions are the norm," Kwok said.

Humanity Protocol has previously raised significant capital, achieving a $1 billion valuation in May 2023. The company's approach to human identity verification involves palm scans, which it deems less invasive than World Network's method of collecting iris data.

In December 2022, Worldcoin faced legal challenges after a German court ordered the company to delete EU users' biometric data.

During a recent interview with Reuters, Kwok also mentioned Humanity Protocol's upcoming token launch, which will further intensify the competition with World Network.

As reported by Cointelegraph,Стоимость токена WLD компании World Network резко выросла после того, как Дональд Трамп объявил о крупном инвестиции в искусственный интеллект США, но с тех пор его цена продемонстрировала большую волатильность.

Humanity Protocol has outlined some broad plans for utilizing the funds, including scaling up operations and expanding globally, thanks to Pantera Capital's bullish crypto market outlook.

The announcement also touches on outreach efforts such as partnerships and developer grants. In his interview, Kwok further noted a commonality between Humanity Protocol and World Network - both are optimistic about a Trump presidency.

"We're excited to see the new innovations that will be better supported under this administration," he stated.

Sam Altman, the founder of Worldcoin and OpenAI, has been actively involved in the new administration.