Eyeballs are no problem for Worldcoin. With the scanning of their irises in exchange for a digital ID and, in some countries, free cryptocurrency, more than 2.2 million people have joined up.
Sam Altman, the creator of ChatGPT, is working on a new initiative to build an “identity and financial network” using blockchain technology. Since its inception on July 24, its native coin, WLD, has maintained a consistent price between $2 and $2.50, avoiding the “pump-and-dump” trajectory that many brand-new crypto tokens experience.
Gordon Grant, co-head of trading at Genesis Trading, which isn’t currently offering the token to clients, claims that the investor community is divided on Worldcoin’s prospects. There are those who have seriously considered both the positive and negative aspects of this endeavor, he remarked.
Investors of Worldcoin 2023
A total of 10 billion of the tokens will issue into the market. Over the course of the next 15 years, according to Worldcoin’s white paper, which is available online. According to data from market watcher CoinGecko, the number of tokens in circulation on Monday was 120 million. Or roughly 1.2% of the total potential supply.
The project is being funded by investors like Andreessen Horowitz. Several tech players are excited by Worldcoin’s ambition to offer a digital ID system based on what it terms “proof of personhood.” Numerous firms are attempting to create blockchain-based digital identification systems, according to PitchBook analyst Robert Le. But none are as large as Worldcoin.
In light of the uncertainties surrounding whether Worldcoin is security, James Butterfill, head of research at CoinShares. He predicted that buyers at this time will primarily be retail investors. According to CCData, the U.S. Securities and Exchange Commission has designated more than 50 altcoins, or cryptocurrencies smaller than bitcoin and ether, as securities.