Worldcoin’s Ambitious Vision Sees Token Surge

Sam Altman's Worldcoin has just released an update that has moved the market. WLD surged on news that token lock-ups have been extended.

Sam Altman’s Worldcoin has just dropped an update that’s moving the market. WLD surged on the news that token lock-ups have been extended.

A blog post stated that the majority of the WLD supply will be received by those with “verified World IDs  – simply for being a unique human”.

Over 6 million people have now participated in the network by having their irises scanned, the post noted.

Moreover, Tools for Humanity (TFH), an early contributor to the Worldcoin project, informed the Worldcoin Foundation of an extension to the unlock schedule, it added.

Ambitious Vision Sees Token Surge

“To become the world’s largest identity and financial network” is the mission statement for Worldcoin.

The extended vesting schedule will see WLD tokens unlocked at a slower rate through to 2029, as opposed to the original faster schedule. Token unlocks can increase the supply and allow early investors to sell, which is usually perceived as bearish.

Currently, the circulating supply of WLD stands at 275 million, with 77% claimed by World ID holders. Under the new schedule, the supply is set to reach 400 million by September – a month later than previously anticipated.

Recent developments saw WLD surge, gaining almost 50% in the past week. The rally has seen the price for one WLD reach US$2.81 (AU$4.17) which is still well under the all-time high (ATH) of US$11.82 (AU$17.57) in March 2024.

Sora Launch Caused 200% Gains for WLD

The ATH in March followed the launch of Sora, OpenAI’s text-to-video model. OpenAI is another of Sam Altman’s companies and naturally, anything exciting out of these firms sparks AI-related surges.

Sora initially faced scepticism over its capabilities but continues to evolve. In June, Toys ”R” Us released a brand film made with Sora – a first for a consumer-facing brand.

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Sora’s release was followed by a surge of interest in WLD. The token saw a 200% increase within the space of mere weeks. However, as the hype around AI cooled down somewhat in the following months, so did the interest in AI-related crypto projects – at least until now it seems.