Worldcoin is all set to launch its cryptocurrency called Worldcoin Token (WLD) on Monday. This project is led by Sam Altman, the CEO of OpenAI, and has received support from prominent investors like Andreessen Horowitz. The main idea behind the project is to use iris-scanning biometrics as a secure means of authentication.
The specific details about how the tokens will be distributed will be disclosed on Monday, as reported by Semafor, a reliable source. Worldcoin Token’s ultimate aim is to build a vast identity database, and the development of this project is being carried out by Tools for Humanity.
The token’s primary focus is on iris biometrics, and it won’t be accessible for use in the USA. It will operate on the Ethereum Layer 2 platform, and the strategic partnership with Andreessen Horowitz backs its development.
There are exciting plans to list the token on various exchanges, and it’s been reported that OKX will soon open the WLD tokens recharge window on July 24.
Worldcoin Attracts Over 2 Million Signups
Worldcoin has already gained significant popularity, with over 2 million signups for digital IDs, and it continues to attract around 40,000 daily signups. However, there are concerns about the project’s approach to privacy and security due to the use of iris scanners, and some worry about the potential exploitation of vulnerable communities.
Notable figures in the crypto industry, like Edward Snowden, have raised ethical questions about the project. Crypto analysts also express doubts about its long-term success.
Despite securing $115 million in funding from investors such as a16z, Bain Capital, and Distributed Global, the project is still met with some skepticism. Nonetheless, Worldcoin keeps progressing and has recently announced signups in the European Union.
The Worldcoin Token anticipation has led to a surge in Optimism transaction volume. Worldcoin is actively moving its World ID and World App to the Optimism Mainnet as part of its commitment to crypto innovation.
