Humanity Protocol Becomes Crypto’s New Digital Identity Unicorn

Humanity Protocol, a startup that aims to verify people’s online identities in an era of artificial intelligence deepfakes, has raised new funding — vaulting it to unicorn status after less than a year.

The startup is building a blockchain-based identity system that recognizes individuals by using scans of people’s palms. It plans to announce Wednesday that it raised $30 million at a $1 billion valuation.

Kingsway Capital led the seed funding round, which also included Animoca Brands, Blockchain.com and Shima Capital as investors. Founder Terence Kwok said that the company also raised about $1.5 million from influential crypto figures in a “key opinion leader” round.

Founded late last year, ...