World, an online authentication startup co-founded by Sam Altman, raised $52.5 million by selling WLD tokens to strategic investors.

TechCrunch reported on Thursday that the allocation came with a 12-month lockup.

Investors cannot sell or trade WLD for a year. World said the condition shows the investment is long-term in nature, backing the company's growth and expanded utility.

The funds raised will go to the World Foundation in the Cayman Islands. The World Foundation is an exempted foundation company limited by guarantee set up to oversee expansion of the World Network.

The lead buyer in the sale was Pantera Capital, a venture capital firm specialising in digital assets. Eightco Holdings, Bain Capital Crypto, Susquehanna Crypto and Selini Capital also took part in the transaction.

The World project is run by San Francisco-based startup Tools for Humanity. The company was co-founded by CEO Alex Blania (알렉스 블라니아) and Sam Altman.

World provides infrastructure to verify whether someone is a real person online. World ID is an anonymous digital marker that verifies a real person, not a bot or AI agent, is behind a particular account.

To receive the highest level of verification in the World system, users must scan their eyes with a metal spherical device called an Orb. The Orb converts a user's iris into a unique cryptographic identifier. The device is installed in World offices and partner stores worldwide.

World launched a new version of its app in April and announced partnerships with Tinder and Ticketmaster. It is having difficulty expanding the business and securing user interest. Tools for Humanity also carried out workforce reductions in June.