Sam Altman crypto project: Worldcoin is launched
Investment in crypto-assets is unregulated, may not be suitable for retail investors and the entire amount invested may be lost. It is important to read and understand the risks of this investment, which are explained in detail here.
Kicking off a buzz in the digital currency universe, the Sam Altman crypto venture, Worldcoin, announced the launch of its WLD token and mainnet on Monday via Twitter. This new chapter in Worldcoin's journey was eagerly anticipated by its dedicated community.
The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps
— Worldcoin (@worldcoin) July 24, 2023
The Sam Altman crypto project is launched
The firm cleverly drummed up expectations through a series of tantalizing tweets throughout the weekend. Although the launch wasn't a complete surprise (thanks to an embargoed press announcement), Semafor still managed to grab the scoop by reporting the news first.
In a clever twist, Worldcoin sent users a push notification on Sunday prompting them to update their mobile app, accompanied by a cryptic yet intriguing message: "It's time. Join us in the World App. July 24, 2023 11 am."
With the green light now flashing, developers can freely access the Worldcoin software development kit, which was previously exclusive to beta mode. This allows them to craft tools and applications that operate with World ID, the distinguishing identity protocol of the Sam Altman crypto enterprise.
Did you hear? The World ID SDK is now publicly available to builders worldwide. Find the developer docs here ?https://t.co/rNaHvcMApB
— Worldcoin (@worldcoin) July 23, 2023
Achieving full verification involves an intriguing process - users must have their irises scanned by a specialized device named Orb, a product unique to the Worldcoin project. Orb crafts a unique identifier from human irises, ensuring no related data is locally processed or stored, according to the firm's claims.
Previously, some users had the opportunity to receive beta tokens through five distinct Worldcoin airdrops. Tiago Sada, the lead for product, engineering, and design at Tools for Humanity – the startup supporting Worldcoin – has announced that these beta tokens will be converted. Once converted, users are free to utilize them in any manner within the World App or even withdraw them for use elsewhere.
Conforming to the Ethereum ERC-20 blueprint, the Worldcoin token has been designed with a familiar structure.
As for Worldcoin's debut on exchange platforms, Sada offers a laissez-faire outlook, stating:
“We’ll see what what other parties choose to do. What we know is that there are certain features like some peer to peer concepts, that will be available from day one on the World App, and then everything else will be up to different people.”
Worldcoin's forward-thinking roadmap forecasts a hefty distribution of 10 billion Worldcoin (WLD) tokens upon achieving a formidable user base of 1 billion. A significant 8 billion tokens have been allocated for community airdrops, underlining the project's commitment to its users.
The remaining 1 billion tokens are earmarked for ensuring the long-term stability and growth of the cryptocurrency protocol. This pool includes rewarding programmers, tool contributors, and investors. The scale of Worldcoin's vision is further illustrated by the fact that tokens worth $100 million were handed to financial institutions participating in the first round. The Sam Altman crypto project, it seems, has set its sights sky-high.
How to buy Worldcoin?
For enthusiasts eager to procure Worldcoin, Binance has made the process straightforward. The globally renowned cryptocurrency exchange has enlisted the Sam Altman crypto, WLD, onto its platform. Tentatively, trading for the new spot trading pairs is scheduled to kick-off at 09:00 (UTC) on July 24, 2023.
Budding traders can look forward to these enticing spot trading pairs: WLD/BTC and WLD/USDT. Binance has enabled users to deposit WLD in advance. Additionally, it has earmarked a tentative time of 09:00 (UTC) on July 25, 2023, for initiating WLD withdrawals. However, users should note that this is a provisional timeline. They can keep tabs on the actual withdrawal status via the platform's withdrawal page.
Adding to the allure, Binance has set the WLD listing fee at a welcoming 0 BNB. Moreover, within 48 hours of 09:00 (UTC) on July 24, 2023, Binance intends to incorporate WLD as a borrowable asset, introducing a fresh margin pair on Isolated Margin - WLD/USDT.
Users seeking the most up-to-date roster of marginable assets and comprehensive details on particular limits and rates are advised to consult the Margin Data.
Sam Altman crypto initiative, Worldcoin, is making waves in the crypto space with its launch, which also signifies the completion of the project's migration to the Optimism network, a Layer 2 scaling solution for Ethereum. This dual event is paired with an increased global availability of Orbs, the project's unique iris-scanning devices.
So far, a limited 200 Orbs have been publicly accessible, scanning over 2 million individuals. Tiago Sada of Tools for Humanity, the force behind Worldcoin, plans to boost this number to 1,500 by the end of the year. Manufactured in Germany, these Orbs come with the convenience of booked appointments, a marked improvement from earlier pop-ups, thus enhancing user accessibility.
OpenAI co-founder Sam Altman is a driving force behind this venture. His company, the one that developed ChatGPT, is part of Tools for Humanity, the collective that gave birth to Worldcoin. This forward-thinking team secured a whopping $115 million Series C in May, with participation from blockchain giants such as Blockchain Capital, a16z, Bain Capital Crypto, and Distributed Global.
Worldcoin's co-founder, Alex Blania, underscored the project's commitment to privacy, decentralization, and inclusivity in a press release, emphasizing these as pivotal factors for proof of personhood solutions in the AI era.
While the exact tokenomics of the project will be unveiled later on Monday, Worldcoin did roll out a protocol wallet named World App on Polygon in May. But due to regulatory complexities, the US market will not see the WLD availability.
Is there a Worldcoin NFT?
And for those curious about a Worldcoin NFT, the answer as of now is no. However, Worldcoin may venture into the NFT domain in the future.