According to official news, Humanity Protocol announced the completion of strategic financing. More than 20 institutions including Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital participated in the investment. The specific amount was not disclosed.
Funds from this round of financing will be used to accelerate the development and deployment of Humanity Protocol, improve its scalability, efficiency and user accessibility, and prepare for the upcoming testnet launch.
As previously reported, the Human Institute has partnered with Animoca Brands and Polygon Labs to launch the Humanity Protocol on Polygon CDK.
The agreement was founded by tech entrepreneur Terence Kwok and is guided by a Founding Humans board that includes Animoca Brands co-founder and executive chairman Yat Siu and Polygon Labs co-founder Sandeep Nailwal. It uses cutting-edge palm recognition technology as a less invasive authentication alternative to methods like iris scanning and is easily accessible via smartphones to build proof of humanity in Web3 applications.