Worldcoin, co-founded by OpenAI’s Sam Altman, has seen an impressive surge of 170% in price following the unveiling of OpenAI’s video creation model, Sora.
As per CoinMarketCap data, Worldcoin is currently trading at $6.83, marking a substantial increase from $2.50 just a week ago. With this surge, Worldcoin’s market cap approaches $900 million.
On February 18, the project celebrated surpassing one million daily active users on the World App, reaching a significant milestone.
Spot On Chain, a blockchain analytics platform, highlighted that Alameda Research holds 25 million WLD tokens, equivalent to about 19% of the circulating supply. These tokens were received from Worldcoin back in August 2023 when the price was around $1.78.
Initially conceived as a digital identity project leveraging blockchain for secure identity verification, Worldcoin rewards users with its WLD token for participating in iris scans using specialized devices called “Orbs.” However, the project has faced privacy concerns from regulators and the public due to these iris scans.
Worldcoin aims to support Universal Basic Income (UBI) by proposing a novel wealth distribution model using cryptocurrency.
Sam Altman’s involvement in Worldcoin has been significant, despite his departure from OpenAI in November 2023 due to alleged communication issues. The project experienced initial price fluctuations following his departure but regained momentum as Altman remained involved. Altman later returned to OpenAI, overseeing major changes in the company’s board.
OpenAI’s latest text-to-video model, Sora, was unveiled on February 15, showcasing its capability to create detailed, emotionally rich videos up to 60 seconds long. Altman mentioned that access to Sora will be limited initially, targeting a select group of creators.