Worldcoin, co-founded by Sam Altman of OpenAI, has witnessed an astounding surge in price, soaring by 170% following the announcement of OpenAI’s video creation model, Sora.
As reported by CoinMarketCap, Worldcoin is currently valued at $6.83, reflecting a remarkable 165% increase from its price of $2.5 just a week ago. With this surge, Worldcoin’s market capitalization stands close to $900 million.
On February 18, the company took to social media to announce that the daily active users of the World App have surpassed one million, marking a significant milestone for the project.
Spot On Chain, a blockchain analytics platform, highlighted that Alameda Research holds 25 million WLD tokens, equivalent to approximately 19% of the circulating supply.
“Alameda Research acquired these WLD tokens from Worldcoin on August 15, 2023, when the price was merely $1.78 (~$44.4M) and has since retained them without any activity,” Spot On Chain reported.
Worldcoin Project Raises Privacy Concerns
Worldcoin originated as a digital identity endeavor leveraging blockchain technology for secure user identity verification. Founded by Sam Altman, Max Novendstern, and Alex Blania, the initiative incentivizes individuals with its WLD token for engaging in iris scans.
Central to the project are the “Orbs,” specialized devices tailored for iris scanning. While innovative, these devices have sparked privacy apprehensions among both regulators and the general public.
With a focus on backing Universal Basic Income (UBI), Worldcoin introduces a novel model for wealth distribution through cryptocurrency.
In November 2023, Altman’s departure from OpenAI, the entity behind generative AI tools such as ChatGPT and DALL·E, was announced. His sudden removal stemmed from alleged communication shortcomings.
Initially, the price of Worldcoin experienced a setback in response. However, it rebounded as Altman maintained his involvement in the project. Altman subsequently resumed his role at OpenAI, overseeing significant changes in the company’s board composition within two weeks of his departure.
Sora: OpenAI’s Text-to-Video Model
OpenAI unveiled its newest text-to-video model, Sora, with the publication of its webpage on February 15.
According to OpenAI, Sora is capable of generating videos lasting up to 60 seconds, showcasing intricate scenes, dynamic camera movements, and multiple characters displaying vivid emotions.
The page showcased a plethora of videos spanning diverse themes and styles, arguably showcasing some of the most advanced video-generating technology to date. Altman mentioned that the tool would be accessible to “a limited number of creators” in its current stage.
