• 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

WLD price chart

The firm announced the launch of its project in a tweet:

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:



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms

Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms

Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.

More Bitcoin News
Litecoin poised for double-digit decline after breaking ascending trendline

Litecoin poised for double-digit decline after breaking ascending trendline

Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.

More Litecoin News
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.

More Cryptocurrencies News
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC

21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC

21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.

More Cryptocurrencies News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP