Decentralized identity project Humanity Protocol has closed a $ 20 million financing round and raised its valuation to $ 1.1 billion.
The financing round was co-led by Pantera Capital and Jump Crypto, according to an email message.
The project last traveled $ 30 million for a valuation of $ 1 billion in May 2024
Humanity plans to use the new capital to accelerate the development of its evidence of human consensus mechanism and integrate the web3 platforms.
The protocol, which uses Palm scans to verify identity, aims to compete with Openai -founder Sam Altman’s Worldcoin project built around scanning users’ iris.
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