- Worldcoin announced its latest partnership with Alchemy Labs earlier on Wednesday.
- Alchemy will provide Worldcoin with infrastructure for the development of World Chain.
- WLD is down over 5% despite the announcement.
In an announcement on Wednesday, Worldcoin (WLD) disclosed its latest partnership with Alchemy Labs, which will see the latter provide reliable infrastructure for the development of World Chain, its proposed Layer 2 network. Alchemy also plans to incorporate World ID to promote its expansion as an internet infrastructure. The move has yet to impact WLD's price, which is down 5.7%.
Worldcoin partners with Alchemy ahead of World Chain launch
Worldcoin, a project that offers human ID verification, has partnered with Alchemy Labs, a web3 infrastructure platform, to build the World Chain L2 network.
World Chain is a Layer 2 blockchain that aims to optimize for real users, giving World ID holders priority block space and zero fees for basic transactions.
With the partnership, Worldcoin will utilize Alchemy Labs' suite of integrations, APIs and other tools ahead of World Chain's launch.
The partnership will also allow Worldcoin access to Alchemy's rollup services, which will help power World Chain as a Layer 2 network. In turn, Alchemy will integrate World ID to scale its "growth as an internet infrastructure."
"World Chain will launch with over 10M users, creating a global chain focused on real-world utility across DeFi and identity use cases," Alchemy stated in an X post.
World Chain had earlier disclosed that it would utilize Optimism's OP stack to build its network, making it part of the OP Superchain, an interconnection of Optimism-based Layer-2 networks.
The price of WLD is yet to experience a rally, with a decline of 5.7% in the last 24 hours. The partnership may cause WLD's price to rise as World Chain's launch draws closer.
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
Editors’ Picks
XRP funding rates flashes negative, eyes $2.17 following 4% decline
Ripple's XRP declined 4% on Friday following a decline in its funding rates. The remittance-based token could decline to test the $2.17 support level if the crypto market decline extends.
Pro-crypto Senator Lummis likely to chair potential crypto subcommittee
In a post on Thursday, Fox Business reporter Eleanor Terret unveiled the Senate Banking Committee's latest plan to kick off a new subcommittee committed to crypto, likely to be headed by Bitcoin strategic reserve advocate Senator Cynthia Lummis.
Lack of Bitcoin allocation could be risky for nations in 2025: Fidelity
Fidelity Digital Assets' Look Ahead report for the crypto market in 2025 highlights key trends expected for the year, including increased Bitcoin adoption by governments worldwide, broader use cases for stablecoins and more app blockchain launches.
Crypto Today: BTC traders hold $90K support as SUI, LTC, TIA see green
The cryptocurrency market’s losing streak entered its third day; aggregate market cap declined 10.9% to hit $3.1 trillion. Bitcoin price stabilized around the $91,800 area as bulls moved to avoid further downside.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot ETFs in January and the reduced supply following the fourth halving event in April.
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.