Humanity Protocol - $1.1B FDV Raise: What You Need to Know
Proof of Humanity, $RWT Testnet Rewards, & More
Earlier this month, we released our $WLD Thesis. As OpenAI is gaining traction and the AI arms race heats up, we felt that a protocol providing a sort of anti-AI infrastructure, where real human users can be verified from bots and prioritized, would become increasingly attractive. While $WLD is down significantly along with the rest of the market, the core of our Thesis has come true in other ways.
But World is not the only player in the human provability space. Humanity Protocol has also emerged, announcing a fresh raise from Pantera Capital and Jump Crypto at a $1.1B FDV. In today’s edition, we’ll discuss the broader need for human provability in the age of AI, what Humanity brings to the table in this regard, and what to expect in the future from this team…
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Background on Humanity & The Need for Decentralized Identity
Humanity Protocol describes itself as a decentralized identity protocol, aiming to create the world’s primary human-centric blockchain. At its core, it serves as a blockchain for real users, using its palm scan recognition technology to create an anti-sybil ecosystem, which dApps can plug into.
The end goal here is a truly sybil-resistant blockchain, something that may be necessary for onboarding the next hundreds of millions or billions of authentic users in crypto. Sybils are already a huge problem in crypto; but they will become an even bigger problem in the world at large, as AI replicas and deepfakes become a more prominent issue that demands a solution at the infrastructure level.
Humanity Protocol introduces Proof-of-Humanity, which enables applications to have integrated authentication mechanisms, making their services free from bots. This opens up a lot of doors for what is possible in crypto if a wallet can be tied to an identity, something that has long been discussed but not accomplished. Another point of emphasis is giving users back their data, minimizing access from large companies while still allowing for all of the conveniences and possibilities that are only possible with provable Human ID. Transactions on Humanity Protocol are conducted in a secure manner, with validators verifying the credentials of users with ZK-proofs, so that they can verify identity without actually having to see it.
$1.1B FDV Funding Round
As mentioned above, the team is fresh off a new funding round from Pantera Capital and Jump Crypto. This comes after a previous $30M seed round with investors including Animoca Brands, and others.
With ample resources, and ever-increasing mindshare going toward the implications of AI and how crypto can play a role, 2025 will likely be a key opportunity for Humanity Protocol to prove its value to millions of users. As such, the team is looking to bring new users to Humanity Protocol developing various integrations with OKX Wallet, Kaito, and more…
Humanity Protocol & World
It’s no secret that World is the name that first comes to mind for most people when they think about identity verification projects in crypto. Being linked to OpenAI’s Sam Altman has allowed $WLD to achieve a peak marketcap of nearly $3B, and a much higher FDV (currently $17.2B). For a proper World competitor like Humanity Protocol, there is a lot of value and marketshare to eat into, with sybil-resistant blockchain perhaps being one of the most important things to get right as AI usecases proliferate. The ambitious scope of Humanity Protocol, its revenue generation mechanisms, and its parallels with World are all tailwinds that could see more attention on the native Humanity Protocol token, when it launches.
There are key ways in which Humanity Protocol differentiates itself from World. Notably, Humanity focused on palm-scanning as the means of verifying user biometrics. The idea behind this is that scanning your palm is just a more practical approach to biometric verification, as opposed to scanning your irises. World has had to make changes, reducing the size of their orb to make it lighter and easier for people to easily scan.
You can see below how the Humanity Protocol palm scanner is relatively small, lightweight, and easy to hold and scan. This practicality is proven; palm scanning is already a method of payment at some PoS stations in China, allowing users to link their palm to their WeChat or Alipay accounts and then wave their palms over sensors to initiate payments.
Palm scanning also may seem less invasive compared to something like World’s orbs, which scan a user’s eyes. World initially got a lot of flack when it first launched for skepticism around privacy protections. Even though most people have indeed already given their biometric information to both government agencies and private companies, it took some time for World to shake this notion.
Progress so far & what to expect
Humanity Protocol has hit the ground running, already onboarding over 3.2 million users to its testnet. Considering the testnet launched just a few short months ago, Humanity Protocol has been onboarding tens of thousands of users a day.
Users can already sign up for the testnet, and begin earning rewards themselves. Users can earn $RWT rewards by connecting their social media accounts, referring friends, and simply checking in daily. $RWT is effectively a reward token, which will be exchangeable for the native Humanity Protocol token upon mainnet launch.
Soon, phase 2 will begin and users will be able to claim their $RWT. The rollout of full palm enrollment will then come in phase 3, where users will then be able to claim their rewards.
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