Sam Altman of OpenAI co-founded the cryptocurrencycurrency project Worldcoin, and Tools For Humanity, the company behind it, has announced that it has acquired Ottr Finance, a Solana blockchain company that specializes on digital wallets.
Users are rewarded with cryptocurrencycurrency tokens. Despite privacy issues, Worldcoin claims roughly 3.9 million sign-ups for its site. According to the project’s website, millions of individuals have signed up, and Worldcoin already has members in 120 countries after being launched 220 days ago.
The acquisition appears to be intended to help Worldcoin attract new users, many of whom are unfamiliar with web3. Worldcoin, a “proof of personhood” program, authenticates individuals via iris scans with orb-shaped sensors.
Ottr Finance will cease its Solana-based wallet and is excited to support Worldcoin in its efforts, including its incorporation into Tools for Humanity.
According to Ottr Finance’s Aleksei Zakharov, “We quickly understood the value in helping Worldcoin build the world’s largest human network to improve trust online and access to the global economy in the age of AI.”
He went on to say, “Joining Tools for Humanity marks a new chapter for us, combining our expertise with theirs to advance the world of digital identity and finance.”
According to the statement, Ottr Finance’s wallet now supports “passwordless cloud backups, seamless integration with U.S. bank accounts, and gas-free transfers and trading.”
Ottr Finance said it is giving consumers time to convert to an alternative wallet. “As our team transitions to Tools for Humanity, Ottr users can export their seed phrases and private keys to transition to any other Solana-compatible wallet,” Zakharov said in a statement. “Our backend service will be operational for the next three months.
Though regulatory issues presently preclude Americans from getting Worldcoin’s WLD token, which is awarded to new signups, easier access to American institutions could help Tools for Humanity in the future.
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