Shortly after Worldcoin, a privacy-preserving digital identity project co-founded by the CEO of artificial intelligence (AI) company OpenAI, Sam Altman, launched its own cryptocurrency, Worldcoin (WLD), it is already recording explosive demand and remarkable price increases.
As it happens, the co-founder of the platform that developed the well-known chatbot ChatGPT, which has triggered a renewed interest in generative AI, had announced the release of the 10 billion tokens into circulation – 75% allocated to the Worldcoin community – earlier on July 24.
Although facing some criticism in Silicon Valley over its unusual approach to solving online identity authentication and income inequality, the crypto asset has since gathered massive interest, reflected in its continuous and notable price increase since its launch.
Worldcoin price analysis
Indeed, in the hours following the launch, the price of the WLD token has reached $2.64, or an increase of 58.24%, according to the most recent information retrieved by Finbold from the crypto market monitoring and analytics platform CoinMarketCap.
As a reminder, Altman used the recent advances in AI technology to convince investors to back Tools for Humanity, the company behind Worldcoin, which in June managed to raise $115 million in a Series C funding round led by Blockchain Capital and joined by a16z, as well as other notable names.
Should interest persist, the Worldcoin token could easily become a source of massive wealth for Altman and other investors, particularly as Binance, one of the largest crypto exchanges in the world, has already introduced WLD spot trading pairs with Bitcoin (BTC) and Tether (USDT), and announced WLD withdrawals to begin on July 25.
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