NordenBladet – Worldcoin (WLD), a cryptocurrency project co-founded by OpenAI CEO Sam Altman, experienced a rally on its first day of trading as investors showed interest in the hype surrounding artificial intelligence. The token’s price surged from an initial value of $1.70 to a peak of $3.58 before settling at $2.52. By 11:12 a.m. in London, approximately $145 million worth of Worldcoin had been traded, with exchanges like Binance listing the token.
Worldcoin’s unique selling point is its “orb” device, which scans people’s eyeballs to create a distinct digital identity known as World ID. This World ID provides “proof of personhood” in the Worldcoin ecosystem. The project’s white paper indicates a capped initial supply of 10 billion tokens, with the launch featuring 143 million Worldcoins. Out of these, 100 million were given to market makers, while the remaining 43 million were allocated to investors who underwent verification using the Orb technology during the pre-launch phase.
Chart: Extract from Worldcoin trading chart on CoinMarketCap.com page 25.07.2023 at 14:28
Notably, Worldcoin is not available for trading in the United States due to regulatory restrictions.
The vision behind Worldcoin is to establish a network that combines a privacy-preserving digital identity (World ID) and, where permitted by laws, a digital currency (WLD) given to individuals merely for being human. The project aims to increase economic opportunities, distinguish humans from AI online while safeguarding privacy, enable global democratic processes, and potentially pave the way for AI-funded universal basic income (UBI).
Worldcoin has launched its World App, the first protocol-compatible wallet, which allows users to reserve their share and receive a World ID by undergoing biometric verification with the Orb device. The goal is to prove one’s genuine and unique existence online while maintaining complete privacy. The global distribution of Orbs is in progress, and individuals can locate the nearest one and book a verification appointment through the World App or worldcoin.org.
Worldcoin aspires to achieve global-scale alignment, acknowledging the challenges and uncertainties ahead. Its mission is to find innovative ways to distribute technological prosperity broadly, addressing a crucial challenge of our time. The project encourages people to join in its endeavor.
Featured image: Sam Altman
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