Worldcoin token, WLD, has surged by 191% in the last 7 days, reaching a trading price of $6.8 as of February 20 2024.
Its meteoric ascent continues, with a staggering 243% surge over the past week alone. As per CoinGecko, WLD’s market capitalization now stands firmly above $991 million.
Worlcoin Marketcap has Soared over the Last 7 daysWorldcoin is a startup focused on blockchain-based digital identity, employing physical orbs to scan users’ retinas and verify their unique identities.
WorldCoin gained notoriety in Kenya as hundreds thronged some venues in the country to register to the WorldCoin program by scanning their iris using WorldCoin’s Orb device and receiving 25 $WLD tokens, approximately KES 7,700 ($54.60) at the time, now almost quadrupled.
🇰🇪Kenya Data Protection Office Issues Notice as Locals Throng for WorldCoin Registration
According to multiple reports, many Kenyans are eager to line up for the free tokens ( $WLD ) being provided by the WorldCoin once they scan their irises using machines (orbs) situated… pic.twitter.com/CrEqnP3Utr
— BitKE (@BitcoinKE) August 2, 2023
This would lead to the suspension of its services in Kenya in August 2023, while a parliamentary committee that investigated its activities in the country found several breaches and inconsistencies regarding data collection and the company’s rights to operate there.
WorldCoin’s rise comes amid the launch of Sora, the latest AI product from OpenAI which has gained acclaim as the ‘Hollywood Killer’ due to its minute-long videos, which are remarkably difficult to distinguish as AI-generated.
Some investors are speculating that there lies potential value in the convergence of AI and cryptocurrency. The distributed ledger of blockchain technology can facilitate the decentralization and open-sourcing of AI models, mitigating the risk associated with consolidating power within single entities.
Storing content metadata on the blockchain can additionally serve to verify the origin of images, particularly in a time where the boundaries between real and fabricated content are increasingly ambiguous, especially with technologies like Sora blurring these lines.
Other AI-related crypto tokens have also experienced notable surges alongside Sora’s launch.
- Bittensor (TAO) has seen a 15% in the last 7 days, with its price reaching $637.68, while
- Fetch.ai has jumped to $41.6, in the same period
While it remains uncertain whether these price hikes are directly linked to Sora’s launch or are part of the broader crypto market rally, they do highlight a growing interest among crypto investors in AI-related projects.
REPORT | Watch Out for AI Tokens in 2024 After 185% Gains in Q4 2023, Says Binance Research
AI tokens demonstrated superior performance compared to major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) in 2023. Bitcoin ended the year [2023] with a 150% increase, while… pic.twitter.com/6axbDYu9Pa
— BitKE (@BitcoinKE) January 12, 2024
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