Key Insights
- The founder of OpenAI, which created the ChatGPT chat bot, launched his own cryptocurrency.
- The company intends to give out tokens for free to those who undergo a retinal scan – thus proving that they are real people, and not artificial intelligence.
- Due to pressure from regulators, the token is initially unavailable in the US
The founder of OpenAI, the company that created the ChatGPT chat bot, Sam Altman launched his own cryptocurrency, Worldcoin (WLD). The announcement of the launch appeared on the product website.
Sam Altman Worldcoin crypto launches
Altman’s cryptocurrency project is called The Worldcoin Foundation and is headquartered in Berlin and San Francisco, the Financial Times reported. The cryptocurrency runs on a blockchain that requires identity verification through retinal scanning.
This is necessary in order to confirm that a real person, and not artificial intelligence, receives the token: after the procedure, it will be possible to receive the Worldcoin token for free, Reuters wrote. The Worldcoin issuer intends to keep about 20% of all issued tokens.
In the first phase, the technology will be available in 35 cities in 20 countries, the Financial Times reported. Tokens at the initial stage are not being launched in the United States due to regulatory difficulties, the newspaper noted. U.S. regulators are putting pressure on the industry out of concern that cryptocurrencies are being used for speculation and fraud, the FT explained.
Read also! OpenAI CEO Sam Altman Fired
The identification technology is called World ID – it is a digital passport that allows you to confirm that the user is a real person, while maintaining his anonymity, according to a message on the Worldcoin website.
World ID can be obtained after a retinal scan, which uses a device called a “sphere”. For retinal scanning, the project opens special sites in different cities and countries.
If successful, this will become the largest network of real people on the Internet as a public good, said Altman and Worldcoin co-founder Alex Blania.
Altman raised about $250 million in investment in the Worldcoin project. The founder of the collapsed crypto exchange, Sam Bankman-Fried, also invested in it earlier, Reuters wrote.
Related: Worldcoin Review » Is Worldcoin a Scam?
Worldcoin price outlook
Today, the live price of WorldCoin stands at $0.020000 USD, accompanied by a 24-hour trading volume of $45,804.20 USD. Over the last day, WorldCoin has experienced a slight dip of 2.46%.
As of now, it holds the #3567 spot on the CoinMarketCap ranking, boasting an undisclosed live market cap. Unfortunately, details regarding the circulating and maximum supply are currently unavailable.
Where to buy Worldcoin crypto?
Quite a lot of Xploras who are interested in exploring the potential of this cryptocurrency have asked us how to invest in WorldCoin.
Given this excitement surrounding WorldCoin, several major cryptocurrency exchanges, including Bybit, OKX, and Binance, have recently announced their listing on their platforms, sparking interest within the crypto community and leaving traders eagerly anticipating the trading opportunities it will bring.
Bybit, a prominent exchange, will fully support the WLD crypto by enabling deposits on both the Ethereum (ERC-20) network standard and the Optimism sidechain. This dual support offers flexibility for traders, catering to those who prefer to transact on either network. However, it remains uncertain whether other exchanges will follow suit and extend their support to the sidechain-based token.
Currently, users can deposit their WLD tokens into Bybit’s exchange wallets. However, it’s important to note that withdrawals will only become available starting from July 25th. This temporary restriction may be necessary for ensuring a smooth and secure integration of the new token.
Traders on Bybit can find the WLD token available in the WLD/USDT and WLD/USDC trading pairs, broadening their options for trading and liquidity.
Meanwhile, OKX, another crypto trading platform, offers the WLD/USDT pair exclusively. Binance, a global leader in the crypto space, supports both WLD/USDT and WLD/BTC trading pairs, providing further flexibility for traders with different preferences.
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