Worldcoin’s crypto token, WLD, has reached a new all-time high, gaining momentum from the recent advancements in the artificial intelligence (AI) sector. WLD rocketed more than 115% in just one week, reaching $9.11, following the announcement of OpenAI’s new video model Sora, and a stronger earnings report by chip company Nvidia. The surge highlights the influence of the AI sector on the crypto industry.
Worldcoin is a blockchain project co-founded by OpenAI CEO Sam Altman and Max Novendstern in 2019. The goal is to verify the global population’s personhood and construct a system for a universal basic income. The startup proposed an “orb” that uses biometric scans to record people’s distinct identities and, in return, offers an associated cryptocurrency.
Despite criticisms about labor and regulatory practices and privacy concerns, interest in the project grew, fueled by Altman’s other initiative, OpenAI, and its flagship product, ChatGPT. Worldcoin posits itself as a solution to the rise of AI, distinguishing humans from bots online. It suggests that its token could create an alternative economic system if AI causes job losses.
In May 2023, Worldcoin’s parent company, Tools for Humanity, announced a $115 million Series C round. The plan is for Worldcoin to transition into a fully decentralized protocol, with Tools for Humanity, chaired by Altman, serving as the steward of the technology.
Users who signed up for an eyeball scan via Worldcoin’s orb, were given an IOU for its native token, WLD. The token finally launched in July 2023, although regulatory uncertainty has kept it from being live in some countries, including the U.S. The token is mainly used for speculation, with trading available on various exchanges.
WLD has seen volatile movements, especially when Altman was temporarily ousted and then reinstated as CEO of OpenAI. However, in the past two weeks, the price rose from $2.50 on February 11th to over $9. This growth can be attributed to numerous factors, including increased Worldcoin verifications worldwide and the rise of AI. As of now, approximately 3.6 million people worldwide have been verified by Worldcoin.
