**Worldcoin’s Token Launch and Market Capitalization**
Worldcoin, a project co-founded by Sam Altman, recently launched a token named WLD, which has gained significant market capitalization. The token was airdropped to users of the Worldcoin application, World App, and was quickly listed on popular cryptocurrency exchanges such as Binance, OKX, and Bitget. At its peak, the token reached a price of $3.31, with a market capitalization of $296 million.
**Tokenomics and Distribution**
According to Worldcoin’s white paper, the maximum circulating supply of the WLD token is 143 million. Of this, 43 million tokens were allocated to users already verified on World App, and 100 million tokens were designated for market makers outside the U.S. to facilitate trading. The white paper outlines the distribution of the tokens, with 75% of the ultimate supply being made available to the Worldcoin community, 13.5% for investors, 9.8% for the initial development team, and 1.7% set aside as reserves. Notably, the company has not distributed tokens to users in the U.S. due to regulatory uncertainty surrounding cryptocurrencies.
**Worldcoin’s Vision and Purpose**
Worldcoin’s primary goal is to address concerns about a possible future dystopia caused by advancements in artificial intelligence. People are increasingly worried that as AI becomes more integrated into our lives, it will become difficult to differentiate between humans and machines. To tackle this issue, Worldcoin aims to establish a system for verifying individuals’ humanity, which they refer to as “proof of personhood.”
**The Orb: A Unique Solution**
Worldcoin has devised a unique solution to verify people’s humanity through a device called the Orb. This reflective metal ball scans individuals’ eyeballs and transforms their iris into cryptographic code. The Orb serves as a means of collecting data for verification purposes and is integral to Worldcoin’s plan for implementing universal basic income in the form of recurring grants of cryptocurrency. This is particularly relevant as AI continues to replace traditional jobs, potentially leaving many people unemployed.
**World ID: Enhanced Verification Protocol**
Worldcoin has also introduced World ID, a protocol that allows third-party applications to verify individuals using the Worldcoin platform. Through this system, other applications can leverage Worldcoin’s technology to establish and confirm the authenticity of users.
**Current Progress and Future Goals**
Although Worldcoin ultimately aims to scan billions of eyeballs, the project has so far only scanned a little over 2 million. Those who have undergone the scanning process, excluding individuals in the U.S., received an airdrop of 25 WLD tokens. The project’s success in achieving widespread adoption and fulfilling its vision depends on expanding its reach and increasing the number of scanned individuals.
In conclusion, Worldcoin’s recent token launch has garnered significant attention and market capitalization. The project’s unique approach to verifying humanity through the Orb device and its commitment to addressing the potential negative impacts of advancing AI technology make it a notable player in the cryptocurrency space. With ongoing developments and the potential for further adoption, Worldcoin aims to shape the future of identity verification and the integration of AI in our lives.
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