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Iris-scanning biometrics project Worldcoin’s cryptocurrency, Worldcoin Token, is reported to launch on Monday. The project is led by OpenAI CEO Sam Altman and has been backed by the likes of Andreessen Horowitz.
San Altman, the CEO of ChatGPT creator OpenAI, is all set to launch the token for his biometrics project, Worldcoin token (WLD), on Monday, July 24, according to reports. The project’s official Twitter page also hinted at the launch with a simple graphic that stated, “It’s time.”
Worldcoin Token Eagerly Awaited (For the Most Part)
The launch of the Worldcoin token (WLD) was first reported by Semafor, which also stated that the distribution mechanics of Worldcoin tokens would be revealed on Monday. The publication cited people close to the matter as its sources.
The token has long been anticipated and comes as OpenAI becomes an even bigger player in the tech space. Tools for Humanity are developing the Worldcoin token, and its official tagline is “building the worlds largest identity.”
Few details are available otherwise, though it is known that it is an iris biometric cryptocurrency project. The token will not be available in the USA and is based on Ethereum Layer 2. The project has been backed by Andreessen Horowitz.
There are also potential exchange listings on the horizon, as OKX has opened the WLD tokens recharge window, according to some reports. The development took place on July 24.
There have been some doubts about the safety of information and privacy with respect to Worldcoin token. Some have expressed concern about the use of iris scanners. Additionally, in May 2023, TechCrunch reported that hackers were able to steal the login credentials of several operators. The team stated that no personal user data was compromised.
Over 2M in Signups for Worldcoin Already
Despite the concerns about privacy, Worldcoin has been quite popular since its announcement. The project crossed 2 million in digital ID signups, with about 40,000 daily signups. This growth has further stimulated concerns about privacy, and one MIT Technology Review report wrote that Worldcoin contractors were exploiting those in poorer regions of the world.
Those in the crypto industry and prominent figures like Edward Snowden have also targeted Worldcoin for various reasons. The latter believes that eyeballs shouldn’t be “cataloged.” Crypto analysts have called the project a disaster waiting to happen.
The anticipation for the Worldcoin token has led to a surge in Optimism transaction volume. Worldcoin had earlier revealed that it was migrating its World ID and World App to the Optimism Mainnet.
Worldcoin has steadily been growing, having secured $115 million in funding from the likes of a16z, Bain Capital, and Distributed Global in May 2023. Still, there is plenty of doubt regarding the project, which has also rolled out signups in the European Union.