Worldcoin Launch: $WLD Token Skyrockets on Debut | Cryptoglobe

On 24 July 2023, the Worldcoin project officially launched. The brainchild of co-founders Alex Blania and Sam Altman, Worldcoin aims to create a new identity and financial network accessible to everyone, regardless of their country, background, or economic status.

The Worldcoin ecosystem is built around three main components. The first is World ID, a privacy-preserving digital identity designed to solve identity-based challenges, including proving an individual’s unique personhood. The second is the Worldcoin token (WLD), a token providing utility and giving users a say over the direction of the Worldcoin protocol. The third is the World App, an app that enables payment, purchases, and transfers globally using digital assets and traditional currencies.

To sign up for World ID, users download the World App, find a local Worldcoin Operator who can verify their unique personhood, and receive their World ID in their World App. This ID can be used in a wide variety of everyday applications without revealing the user’s identity.

The Worldcoin token (WLD) is the first token to be globally and freely distributed to people just for being a unique individual. The amount of WLD that users can claim is consistent across applicable regions. At the moment, eligible verified users can claim 1 free WLD token per week with no maximum.

The launch of the Worldcoin project was accompanied by the trading of its WLD token on multiple centralized exchanges, including Huobi, Binance, and Bybit. At the time of writing (11:25 a.m. UTC on 24 July 2023), the WLD token is trading at around $2.70, up 61% on the day, marking a promising start for the project.

Source: CoinGecko

In their launch blog post, Blania and Altman expressed their ambition for Worldcoin, stating that if successful, the project could drastically increase economic opportunity, scale a reliable solution for distinguishing humans from AI online while preserving privacy, enable global democratic processes, and eventually show a potential path to AI-funded UBI.

The Worldcoin project represents a significant step forward in the world of digital identity and financial networks. As the project continues to grow and evolve, it will be fascinating to see how it shapes the future of the cryptocurrency landscape.

Featured Image Credit: Photo/illustration by geralt via Pixabay