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Worldcoin, the ambitious Web3 project co-founded by Sam Altman, is seeing better days after the downtime it suffered last year. Over the past seven days, the value of the project’s native token, WLD, has reportedly surged by 140%. As of this writing, WLD is trading at $7.58 (roughly Rs. 628). The main reason for this price surge is the boom of the Worldcoin wallet app called ‘World App’.

During the week, Worldcoin’s official

According to a report by CoinTelegraph, by November 2023, the number of Worldcoin wallet users reached approximately 100,000 daily active users.

With Worldcoin, Altman envisions the creation of a network comprised entirely of real humans as AI becomes smarter and more advanced every day. Altman plans to use a scan of a person’s iris to create a unique global identification of that individual. This eliminates the need to present any identity such as name or email ID to interact with computers and machines.

By August last year, WorldCoin had generated more than 2 million sign-ups from various parts of the world, including India. People waited in line to submit their eye scans to the Worldcoin team through the sphere.

However, these details of irises collection have raised concerns among several governments. For example, Kenyan authorities raided Worldcoin’s offices in Nairobi and confiscated all stored information of users who had registered for the project.

As of now, there is no single metric that explains Worldcoin’s sharp rebound other than the fact that the entire cryptocurrency market is bouncing back. Bitcoin is trading above $52,000 (roughly Rs. 43 lakh), sending prices of almost all major cryptocurrencies soaring.

The total market capitalization of WLD tokens in August 2023 was $266 million (approximately Rs. 2,207 crore). Currently, WLD’s market cap is $73,592,859,052 (roughly Rs. 6,10,873 crore), according to CoinMarketCap.

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