Worldcoin soars 140% in a week as wallet app hits 1M daily users

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Worldcoin (WLD) token — a crypto project co-founded by OpenAI CEO Sam Altman has surged more than 140% over the last week, as its daily users ticked over the 1 million mark. 

In a Feb. 18 post to X, Worldcoin announced that its crypto wallet application, dubbed “World App,” had notched more than 1 million users, a significant growth from just 100,000 daily active users in November last year.

Launched in July 2023 by OpenAI CEO Sam Altman and Alex Blania, Worldcoin is a self-described “privacy-preserving” digital identity verification project that pays users in its native cryptocurrency in exchange for scanning their irises.

Worldcoin’s price has surged more than 172% in the past two weeks. Source: CoinGecko

The self-stated goal of Worldcoin is to attempt to introduce worldwide Universal Basic Income, by issuing everyone on the planet a small amount of its native WLD token in exchange for verifying their identity.

However, Worldcoin’s goal of ushering in Universal Basic Income (UBI) alongside its biometric identity system has invited its fair share of controversy, largely centered on privacy concerns over its metallic eye-scanning devices dubbed “Orbs.”

On Jan. 31, Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD) launched an investigation into Worldcoin’s local operations, citing “serious risks to personal data privacy.” The PCPD said it had executed warrants and entered six premises controlled by Worldcoin in Hong Kong as part of its investigation.

Outside of Hong Kong, the project has drawn the attention of many jurisdictions’ regulators over privacy concerns, seeing its services completely suspended in Kenya and the pausing of iris scans in India.

Irrespective of these regulatory concerns, the native Worldcoin token has posted gains of more than 141% in the last week, buoyed by a wider rally throughout the crypto sector.

Related: Worldcoin launches in Singapore following India pause

Meanwhile, Worldcoin’s gains over the week have come alongside several major updates from OpenAI.

On Feb. 16, OpenAI unveiled its new text-to-video generator, Sora, allowing users to generate video clips and scenes from text prompts.

A week earlier, on Feb. 9, Altman announced that he would seek to raise a staggering $7 trillion to help the firm fund and scale its semiconductor chip development. While the massive dollar figure raised eyebrows throughout the tech world, Altman didn’t seem too phased.

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