Worldcoin, founded by Sam Altman, surges 140% as daily users reach 1 million despite privacy concerns

The native token of World currency WLD/USDa project co-founded by OpenAI CEO Sam Altmann, has seen a notable increase of over 140% in the last week. This spike coincides with the project’s “World App” reaching over one million users despite ongoing privacy concerns.

What happened: Worldcoin’s native cryptocurrency has seen a significant increase in value, reaching a 140% increase in the past week, Coin Telegraph reported on Sunday. This growth is in line with the World App reaching the milestone of over one million users, a substantial increase from 100,000 daily active users in November 2023.

Worldcoin, founded in July 2023 by Altman and Alex Blania, is a project focused on “privacy-preserving” digital identity verification. Users are rewarded in the project’s native cryptocurrency for scanning their irises. The ultimate goal of the project is to introduce a global universal basic income by providing a small amount of the native WLD token to each individual in exchange for identity verification.

See also: Bitcoin, Ethereum and Dogecoin Gains Remain Intact During New Trading Week – According to King Crypto Analyst

Despite its ambitious goal, the project has faced considerable controversy, particularly regarding privacy concerns surrounding its “Spheres,” metallic eye-scanning devices. This has led to regulatory scrutiny, with operations suspended in Kenya and iris scans suspended in India. THE Hong Kong The Office of the Personal Data Privacy Commissioner (PCPD) has also launched an investigation into Worldcoin’s local operations.

However, these regulatory challenges have not hindered the notable growth of Worldcoin’s native token. The increase in value came amid significant updates from OpenAI, including the introduction of a new text-to-video generator called Sora and Altman’s announcement of a $7 trillion funding plan for the the company’s semiconductor chip development.

Because matter: Worldcoin’s recent surge followed a period of uncertainty in 2023, when Altman was removed from his CEO position at OpenAI due to governance issues. However, the project returned to prominence with a 25% gain after reports suggested that Altman was considering a return to OpenAI under certain conditions.

Despite privacy concerns, Worldcoin is making strides to address the issue. In January 2024, the project announced plans to give its controversial “Orb” device an Apple-style makeover, with a more user-friendly design. This move was seen as an attempt to alleviate privacy concerns surrounding the device.

Read next: Forgetting Bitcoin? This top 50 altcoin could explode by 1,400%, analyst says

Image by CryptoFX on Shutterstock

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