That’s right , this startup has just secured a whopping $150 million in funding for their groundbreaking technology: an eyeball scanner that uses blockchain to verify your identity.

Now, we know what you might be thinking “Why would anyone need a crypto-powered eyeball scanner?” Well, let us explain. According to EigenLabs CEO and co-founder, Dr. Steve Kalfoglou, the technology is designed to combat fraud in various industries such as finance, healthcare, and government.

“Our system uses advanced algorithms to analyze the unique patterns of your iris,” explains Kalfoglou. “This data is then stored on a blockchain ledger that can’t be tampered with or hacked.”

The EigenLabs team has also developed an app called EyeVerify that allows users to scan their own eyeballs using their smartphones. This means you won’t have to visit a physical location to get your iris scanned just snap a selfie and voila! Your identity is verified in seconds.

“We believe this technology has the potential to revolutionize the way we verify identities,” says Kalfoglou. “It’s faster, more secure, and much less invasive than traditional methods.”

So, what does this $150 million investment mean for EigenLabs? According to their press release, the funds will be used to expand their team of engineers and scientists, as well as to develop new applications for their technology.

“We’re thrilled to have such a strong group of investors backing us,” says Kalfoglou. “Their support will allow us to continue pushing the boundaries of what’s possible with blockchain and biometrics.”

Investors in this round include Andreessen Horowitz, Spark Capital, and Canaan Partners all of whom are known for their expertise in the tech industry.

“We believe that EigenLabs is at the forefront of a new era of identity verification,” says Chris Dixon, partner at Andreessen Horowitz. “Their technology has the potential to transform not just finance and healthcare, but also government and other industries.”

Who knows what kind of crazy ideas these guys will come up with next? Maybe they’ll invent a blockchain-powered nose scanner or something equally ridiculous (but hopefully just as useful).