cryptoslate.com
Worldcoin, the Sam Altman-backed digital identity project, has launched its mainnet, and its native $WLD token jumped by more than 60% after being listed across major exchanges, including Binance, Bybit, Huobi, and others.
The mainnet went live earlier today, July 24, and $WLD’s value spiked above $2.50 within an hour of its launch, according to data from Coingecko.
Worldcoin mainnet launch
According to a July 24 statement, Worldcoin was launched to create a new identity and financial network for everyone.
“Worldcoin consists of a privacy-preserving digital identity network (World ID) built on proof of personhood and, where laws allow, a digital currency ($WLD). Every human is eligible for a share of $WLD simply for being human. “
The project stated that its launch could help to increase “economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, and enable global democratic processes.”
The project has been in development for over three years, raising $115 in a May Series C funding round led by Blockchain Capital. However, the project has attracted significant criticisms for targeting people in the global south and privacy concerns.
$WLD token
According to its tokenomics, the token has an initial supply of 10 billion, with 75% allocated to its community, 9.8% to the development team, and 13.5% to Tools for Humanity investors.
Early community members, over 2 million people who have been verified, were allocated over 43 million $WLD tokens.
Blockchain analytical firm 0xScope stated that the Worldcoin airdrop has begun with more than 90,000 addresses eligible, and most can only claim around 25 $WLD tokens each.
The Worldcoin mobile app has also been updated, and people can reserve their share of the $WLD tokens through the app. However, to earn $WLD tokens, users must visit a Worldcoin Orb location where they will be scanned to verify their human identity and provide proof of their humanity.
The $WLD token is unavailable in the U.S. due to unclear cryptocurrency regulations.