Sam Altman's Worldcoin rolls out with massive rally
- Sam Altman’s project Worldcoin launched its WLD token and mainnet early on Monday.
- Worldcoin launch implies that the project's migration to Optimism network will be finalized by developers soon.
- WLD tokens are not available to US-based users in light of the recent regulatory crackdown on cryptocurrencies.
Worldcoin, Sam Altman’s digital ID project to verify users’ identity and tackle the advances and challenges that are likely to arise with higher adoption of artificial intelligence, launched early on Monday.
The protocol’s mainnet and token launched, fueling a massive rally and yielding nearly 60% gains for traders on centralized crypto exchanges.
Also read: Hamsters, roaches or snails: Animal-themed cryptocurrencies take center stage among crypto traders
OpenAI chief’s Worldcoin project launches mainnet
Sam Altman, OpenAI chief, rolled out his ambitious digital identity project, Worldcoin early on Monday. The project promises to verify user’s identity by scanning their eyes and generating a database, tackling one of the key challenges of user identification, caused by advances in artificial intelligence.
The token WLD is available for trade on centralized exchanges, Binance, Huobi, Bybit, and Gate.io. WLD price climbed to its all-time high of $3.30, yielding nearly 60% gains (55% at the time of writing) for holders.
WLD price chart
The firm announced the launch of its project in a tweet:
The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps
— Worldcoin (@worldcoin) July 24, 2023
The project is ramping up verification and it will now be available in 35 cities over the next few months. Worldcoin app is now available in 120 countries.
While the use of biometric technology raised questions on the project initially, 2 million people have been successfully scanned and Worldcoin assures users that it uses artificial intelligence to create unique codes to represent the scans and complies with "very, very local and very specific rules and regulations in each of the markets where there's an Orb.”
The project is ramping up its migration to Ethereum Layer 2 Optimism network to scale its adoption and utility among users. WLD tokens are currently not available to US-based users in response to the regulatory crackdown on cryptocurrencies by US financial regulator, Securities and Exchange Commission (SEC).
Like this article? Help us with some feedback by answering this survey:
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
