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Human Protocol (HMT) token jumped 175% in value at last check Saturday, as it continues to gain traction in the market while also addressing both identity verification challenges and data privacy concerns.

Humanity Protocol, a blockchain-based project, reached unicorn status in May, boasting a $1 billion valuation. This milestone came after it secured $30 million in a seed round led by Kingsway Capital. 

Among its investors are Animoca Brands, Blockchain.com, Hashed and Shima Capital.

According to a Medium post by Humanity Protocol, the funds helped expand the team and develop products ahead of the public testnet launch in the second half of 2024.

The latest funding round came only months after Humanity Protocol received strategic investment to build the “human layer” for web3.

Several VC funds and individuals, including Polygon founder Sandeep Nailwal and Animoca Brands co-founder Yat Siu, joined the effort.

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