Following the company’s announcement of $125 million in fresh capital commitments and substantial investments in AI- and cryptocurrency-related businesses, Eightco Holdings shares saw a 25% increase.
Bitmine Immersion Technologies, which now owns about 7% of the company, has committed $75 million to the funding. Tom Lee, the chairman of Bitmine, is anticipated to become a member of Eightco’s board.
Two other investors have each made a $25 million commitment. These include Payward, the parent business of the cryptocurrency exchange Kraken, and ARK Invest, where futurist Brett Winton will join Eightco as an adviser.
The business disclosed that it has already invested $75 million in two significant technology projects in addition to the fundraising announcement.
OpenAI, the startup behind ChatGPT, received about $50 million, while Beast Industries, the company connected to well-known YouTuber MrBeast, received $25 million.
Additionally, Eightco has a sizable cryptocurrency treasury that comprises about 277 million WLD tokens connected to the World Identity Network project, which OpenAI CEO Sam Altman co-founded. In addition, the company has $82 million in cash and roughly 11,000 Ether.
To verify that users are actual people and not programmed bots, the World Network employs biometric verification devices called “Orbs”. The method seeks to allay growing worries about differentiating online AI-generated content from human behaviour.
According to company leaders, the approach links a few cutting-edge technological trends, such as digital identity, artificial intelligence, and cryptocurrency infrastructure.
You need to login in order to Like
Leave a comment