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Worldcoin Surges and Falls Again as Major Crypto Exchanges List the New Token

On the second day of trading, Sam Altman’s new iris-scanning crypto token stands at $2.02: which leading crypto exchanges have listed the token?

Worldcoin Surges as Major Crypto Exchanges List the New Token

The innovative crypto technology from OpenAI CEO Sam Altman is rapidly gaining investors’ interest. Since yesterday’s launch, the native token of his iris-scanning crypto startup Worldcoin has surged over 20% but also experienced a sharp fall compared to the record high. Active trading is now facilitated by a few major global crypto exchanges, including Binance, Huobi, Bybit and OKX.

The creator of ChatGPT has been promoting the project for the last few years as “the world’s largest identity and financial network” serving as “a public utility, giving ownership to everyone.” In May, Altman secured $100M in funding for Worldcoin, an ecosystem based on World ID – a “privacy-first protocol that brings global proof of identity to the blockchain.”

At the time of writing, Worldcoin’s WLD token is trading at $2.02, with the daily lowest price of $1.92 and a daily high of $3.58.

Besides the hype connected to its creator’s popular generative AI product, Worldcoin stands out among other crypto projects with its utopian ideas. The main goal is for people to be able to prove they are real in the online world of sophisticated AI-generated bots and deepfakes without sharing personal data like names or e-mails.

For this purpose, the firm has started distributing Orbs, biometric verification devices, across 18 different countries of the world. Visiting one of the 126 locations already available in Spain, Kenya, Japan, and other countries, one can receive a World ID.

The project’s digital currency (WLD) should be theoretically assigned to all global citizens simply for being human. Yet, it is also traded at popular crypto exchanges.

After the initial craze, the token plunged about 20%. Some argue that it’s quite a natural pattern for a fresh-to-market cryptocurrency. At the same time, some investor scepticism is linked to the fact that the majority of WLD tokens remain in the hands of the team and initial investors.

Besides, concerns are that a centralized hardware solution Orb is contrary to the main foundations of blockchain.  Such a reliance might make the system vulnerable to potential hacking, thus, compromising confidential user data.

Earlier, a few regulators across the globe voiced their worries about the use of data by OpenAI’s flagship product – ChatGPT.

Nina Bobro

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https://payspacemagazine.com/

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.