Throughout the following sections, you’ll have a chance to find out what the Worldcoin crypto project is all about, who’s behind it, what makes it quite controversial, and how Worldcoin actually works. Additionally, we will also explain what a Worldcoin Orb is! Along the way, you’ll learn all the essentials about the WLD token and discover its purpose (use case). To cover that aspect properly, we’ll take a look at $WLD’s tokenomics. Moreover, since many of you most likely wonder if you should buy the WLD token, we will also look at the token’s price.
By analyzing the token’s current price data and considering some other prominent projects launched in the past, we will also play around with some $WLD price predictions. And, for those of you who will decide to get a bag of the Worldcoin crypto token, we will also explain where you can find the right market for you to buy this crypto.
This is also where you’ll find out how to move beyond the Sam Altman Worldcoin project and explore other altcoin opportunities.
What is the Worldcoin Crypto Project by Sam Altman?
The Worldcoin crypto project is attempting to build the world’s largest identity and financial network to serve as a public utility. It aims to do so with the use of a special eyeball-scanning device known as a “Worldcoin Orb” and blockchain technology.
As a well-funded project, Worldcoin actually has the means to pull off this mission successfully. However, the main question is whether people around the globe will decide to put their trust in this new tech.
So, on the one hand, most of us applaud the idea of creating a better future, which Worldcoin definitely has the potential for. However, many of us will find it challenging to trust this new tech to have our eyeballs scanned and get the data fed into a new network. So, in an attempt to help you overcome this dilemma, let’s look at the Sam Altman Worldcoin project more closely.
Note: At the time of writing, a little more than two million people have gotten scanned and confirmed on Worldcoin.
Who is Behind Worldcoin?
At this point, it should be rather obvious that Sam Altman has something to do with Worldcoin. Another person behind this ambitious and controversial crypto project is Alex Blania. These two individuals also have their names signed under the Introducing Worldcoin page on the project’s official website. So, it is not wrong to say that they are the two co-founders of Worldcoin.
But it’s technically more correct to say that they are the co-founders of Tools For Humanity (TFH), a tech company that aims to ensure a more just economic system. Furthermore, the company’s website states that it is currently building tools for the Worldcoin crypto project.
However, the project aims to become fully decentralized and owned by all its participants. Thus, the project’s documentation states no names. That said, it does point out that the non-profit Worldcoin Foundation is behind the project. It’s supposed to offer support until Worldcoin becomes self-sufficient and the community can take the reins.
The foundation’s founding documents specifically contemplate DAO-driven governance. Accordingly, it is essentially “memberless” – it has no owners or shareholders. Still, the Worldcoin Foundation is governed by a board with three directors: Chris “W” Waclawek, Phillip Sippl, and Glenn Kennedy.
Further, this foundation is the sole member and sole director of World Assets Limited – the entity responsible for issuing 75% of the WLD token total supply. But, since these tokens were allocated to the Worldcoin community, the company’s sole responsibility is the content of the Worldcoin’s documentation (whitepaper).
So, to sum it up, these are the known names behind the Worldcoin crypto project:
- Sam Altman and Alex Blania via TFH
- Chris “W” Waclawek, Phillip Sippl, and Glenn Kennedy via the Worldcoin Foundation and World Assets Ltd.
How Does Worldcoin Work?
The two core aspects of the Worldcoin crypto project are World ID and the WLD token.
The former is a privacy-preserving digital identity, and the latter is an Ethereum-based cryptocurrency. The project also already provides its protocol-compatible wallet: World App. This app, in combination with World ID, can serve as an identity-proofing tool. Also, in combination with WLD and other digital currencies, it serves as a wallet.
So, how do these components work together and where does the orb fit in?
The process starts with users visiting one of the Worldcoin Orb locations. It’s also worth pointing out that a Worldcoin Orb is a special kind of biometric verification device. There, Orb operators ensure that users scan their eyeballs properly and verify their World ID. There are already more than 120 locations worldwide, and you can find them at “worldcoin.org/find-orb.” On that page, you can also learn more about becoming an Orb operator.
The project claims that World ID lets you prove your personhood online without compromising your privacy, which they are able to achieve thanks to blockchain technology.
The following image neatly outlines all the aspects of the Worldcoin system:
Of course, for World ID to reach its full potential, it is essential that people adopt this way of verification. And the project is well aware of this. Thus, the official Worldcoin website points out that it is an attempt at global scale alignment.
If you are interested in the technical aspects of the Worldcoin crypto project, including a detailed description of Worldcoin Orb, dive into the project’s whitepaper.
More Than Just a Theory
Folks that have already verified their identity can use World App to collect one $WLB weekly, acting as an incentive.
Plus, the app already enables users to send digital currencies to other users. When it comes to using World App as a wallet, even users that haven’t verified their World IDs can use it.
So, you don’t have to have a verified World ID to own $WLD. However, it’s important to note that you don’t need World App to own WLD, either.
Now that you know what the Sam Altman Worldcoin crypto project is all about and how it works, it’s time we take a closer look at the WLD token.
What is the WLD Token?
The WLD token is the Worldcoin protocol’s native currency. The token has two core purposes:
- It gives its holders a say over the direction of the protocol (governance rights).
- $WLD is also a form of incentive as it is freely distributed to people who verify their World IDs.
Of course, as with any other ERC-20 token – fungible cryptos that live on Ethereum – WLDs can be freely traded. So, by using a DEX or a CEX supporting this asset’s trading pair, anyone can buy/sell the WLD token.
Tokenomics
The Worldcoin project went live officially on July 24, 2023. That is also when the WLD token got listed on exchanges. However, by looking at the token’s on-chain metrics, we can see that WLD was minted on July 17, 2023.
The Worldcoin token has a total supply of ten billion $WLD. According to the project’s whitepaper, that supply is capped for at least 15 years. Then, up to 1.5% inflation yearly is possible. That said, the default inflation rate is 0%.
Below, you can find the summary of all important aspects of the $WLD’s tokenomics:
- Network: Ethereum Mainnet
- Type of cryptocurrency: ERC-20
- Token contract address: 0x163f8c2467924be0ae7b5347228cabf260318753
- Initial supply cap: 10,000,000,000 $WLD (see the image below regarding the vesting details)
- Inflation: Up to 1.5% per year after 15 years (subject to the protocol governance)
- Circulating supply at launch: 143,000,000 $WLD
- Token allocation entity: World Assets Ltd., a Worldcoin Foundation subsidiary based in the British Virgin Islands
- Token allocation:
- Worldcoin community: 75%
- TFH investors: 13.5%
- Initial development team: 9.8%
- TFH reserve: 1.7
- Utility:
- Governance of the decentralized Worldcoin protocol
- An incentive for those who verify their World IDs using Worldcoin Orb
WLD Price Analysis
Since the WLD token has been trading for just over a day (at the time of writing), there’s obviously not much price data to analyze. Still, let’s look at the asset’s 15-minute chart:
Looking at the above chart, you can see that after the initial pump. The asset has been trading more or less sideways. The listing price was $0.15; however, the price wicked all the way up to $5.29 in the first minute of trading, and $WLD closed its first 15-candlestick at $3.181.
Over the following 17 hours, the price was in a downtrend until it found its low at $1.85. The asset formed a local support at the $1.9-ish level and started to slowly climb up again, reaching the $2.26-ish level. This is also the region where the price is currently (at the time of writing).
WLD Price Prediction
As a large, popular, and well-funded project, the Worldcoin crypto token launched on some of the most popular centralized exchanges. Namely, Binance and KuCoin. While the official listing price sits at $0.15, no one could have caught that deal.
By looking at other more significant projects with that type of launch in the past, we can see a clear pattern. Usually, the price of the asset continues to decrease, at least for some period following its launch.
Of course, the Worldcoin crypto project is pretty unique, and it could easily take a different path. However, if we had to speculate, we’d say the price will stay below the $3.181 mark for a while.
An important aspect is also the circulating supply of the WLD token. Currently, the latter is capped quite low. However, as additional WLD tokens are unlocked, the supply increase will push the price downward.
Still, if altcoin trade/investors show a lot of buying interest, they could push the price up despite the increase in circulating supply. But we think that the likelihood of that happening is not that high. After all, the fully diluted market cap of this project is a whopping $22 billion.
Nonetheless, with a “circulating” market cap in the $250,000,000 region, it is not impossible for that value to reach billions or even tens of billions in the upcoming bull market. So, in that case, the price of $WLD would increase by 10x or even 100x.
So, if you believe this project has what it takes to attract buyers, then you may decide to get a bag of $WLD yourself.
Where to Buy the WLD Token
If you do not mind using centralized exchanges, you can find WLD on several popular ones. However, if you prefer to be in control of your crypto assets, you ought to stick to decentralized exchanges (DEXs). In that case, the most obvious choice would be to use Uniswap. After all, you now know that the Sam Altman Worldcoin token lives on Ethereum.
However, there may be other options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
Also, do not forget to use Moralis Money’s core feature – Token Explorer – to find the best altcoin opportunities at any given time. Plus, make sure you learn how to use this on-chain tool as your personal crypto pump detector!
Exploring Sam Altman’s Worldcoin Crypto Project and WLD Token – Summary
We covered quite a distance in today’s article. You learned the gist of the Worldcoin crypto project and the WLD token. Also, you now know that in certain areas of the world, you can already access Worldcoin Orb scanners. The latter enables you to confirm your World ID and take one step further to confirm your identity in a secure yet practical manner. Plus, this is the way to obtain some free $WLD via World App.
However, you now know you don’t have to scan your eye to get your hands on the Sam Altman Worldcoin token. After all, there are many places where you can buy and sell the WLD token.
Nonetheless, you also learned that Moralis Money enables you to explore the best altcoin opportunities at any time. As such, make sure to use this ultimate on-chain tool to expand your crypto ventures beyond $WLD.
