The Sam Altman crypto initiative, known as Worldcoin, has set the digital currency world abuzz with the launch of its WLD token and mainnet. The exciting announcement was made via Twitter on Monday.
The Worldcoin project is now live. pic.twitter.com/xZXG4w56Ps
— Worldcoin (@worldcoin) July 24, 2023
The Sam Altman crypto initiative is live
The firm had been stirring anticipation via a series of Twitter posts over the weekend. Semafor was the first to report the news, although insiders had been expecting the launch following an embargoed announcement shared with the press.
Users received a push notification on Sunday, urging them to update their mobile app. An intriguing message: “It’s time. Join us in the World App. July 24, 2023 11 am.”
Developers’ access
As of now, developers are being given the green light to access the Worldcoin software development kit, which until now was only available in beta mode. This allows them to develop tools and apps utilizing World ID, the identity protocol unique to the Sam Altman crypto project. To achieve full verification, users are required to undergo iris scanning via Orb, a device specifically designed for this project. Orb generates a distinctive identifier from human irises, without processing or storing any related data locally, according to the company’s statement.
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
Worldcoin airdrop
In the past, users have been granted beta tokens through the Worldcoin airdrop on five separate occasions. Tiago Sada, the head of product, engineering & design at Tools for Humanity – the startup backing Worldcoin – announced that these “beta tokens will will get converted and they’ll be able to use those however they wish inside of world up or take them out elsewhere.
The token follows the Ethereum ERC-20 design structure.
On the topic of Worldcoin’s listing on exchanges, Sada stated, “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 has announced an ambitious roadmap, aiming to distribute 10 billion Worldcoin (WLD) tokens once it reaches a user base of 1 billion. Of these tokens, 8 billion are earmarked for community airdrops, demonstrating a significant commitment to their user base.
The rest, amounting to 1 billion tokens, will be used to ensure the long-term sustainability of the cryptocurrency protocol. This includes incentives for programmers, contributors to tools, and investors. Interestingly, financial institutions participating in the first round received tokens worth 100 million dollars, showcasing the scale of Worldcoin’s aspirations.
How to buy Worldcoin?
For those looking to get their hands on Worldcoin, Binance has made it a breeze. The leading cryptocurrency exchange platform has included the Sam Altman crypto, WLD, in its listings, and trading for spot trading pairs is set to open tentatively at 09:00 (UTC) on July 24, 2023.
Prospective traders can gear up for these new spot trading pairs: WLD/BTC and WLD/USDT. In preparation, Binance has opened the doors for users to deposit WLD now. Moreover, the platform has tentatively scheduled withdrawals for WLD to commence at 09:00 (UTC) on July 25, 2023. It’s important to note that the withdrawal opening time is merely an estimate for users’ reference. Users can check the actual status of withdrawals on the withdrawal page.
Adding more sweetness to the deal, the WLD listing fee on Binance is 0 BNB. Furthermore, Binance will introduce WLD as a new borrowable asset with a fresh margin pair on Isolated Margin. This is expected to happen within 48 hours from 09:00 (UTC) on July 24, 2023. The new isolated margin pair will be WLD/USDT.
For the most recent list of marginable assets and detailed information on specific limits and rates, it’s recommended that users refer to the Margin Data.
Optimism network
The launch of Sam Altman crypto, Worldcoin, not only signifies a stride in the crypto world but also marks the culmination of the project’s migration to the Optimism network. As a Layer 2 scaling solution for Ethereum, Optimism enhances the capabilities of the platform. In tandem with the launch, Worldcoin is set to increase the availability of Orbs, their unique iris-scanning devices, globally.
Until now, only 200 Orbs were available for public use, and these have successfully scanned over 2 million people. According to Tiago Sada from Tools for Humanity, the team responsible for Worldcoin, the goal is to create 1,500 Orbs by the year-end. These devices, manufactured in Germany, offer a unique convenience with the added option of booking appointments as opposed to pop-ups, enhancing user accessibility.
Open AI co-founder Sam Altman is a significant player in this venture. Open AI, the company behind ChatGPT, is also part of the group, Tools for Humanity, that brought Worldcoin to life. This innovative team raised an impressive $115 million Series C in May, with leading blockchain players like Blockchain Capital, a16z, Bain Capital Crypto, and Distributed Global taking part in the round.
WLD co-founder, Alex Blania, emphasized the project’s focus on privacy, decentralization, and inclusivity in the AI era. He stated in a press release that the proof of personhood solutions should satisfy these critical aspects.
Although the exact tokenomics of the project will be revealed later on Monday, Worldcoin did launch a wallet for the protocol called World App on Polygon in May. It’s noteworthy, however, that due to regulatory uncertainties, WLD will not be available in the U.S.
Is there a Worldcoin NFT?
As for NFT enthusiasts wondering about a Worldcoin NFT, the current response is negative. Nevertheless, it is possible that Worldcoin might step into the NFT space in the future. So, stay tuned!
How does the future of WLD coin look? Check out our price prediction here!
Featured image credit: Worldcoin
