Worldcoin (WLD) Rebrands to “World” as the Crypto Ecosystem Undergoes a Broader Renaming Trend

Worldcoin (WLD), a digital identity project that utilizes iris scanning, has announced its rebranding to “World.” This change is part of a broader trend, as many projects have recently undergone rebranding for various reasons.

Worldcoin (WLD) has announced its rebranding to “World” in a move that aligns with the broader trend among crypto projects to undergo rebranding for various reasons.

At a recent event in San Francisco, Worldcoin co-founders Alex Blania and Sam Altman revealed several updates for the project, including a new generation of Orb devices with five times the performance, World ID 3.0 to prevent deepfake fraud, and the introduction of World Chain, a blockchain designed to prioritize human activity.

With these developments, Blania and Altman highlighted that the name “Worldcoin” no longer encapsulates the project's mission, hence the rebranding to “World.”

“The name “Worldcoin” no longer encapsulates the mission of the project—to accelerate every human… World is truly a network of real, verified humans built to enable an optimistic future in which humans will continue to be at the center of AI progress,” the company stated.

Following the announcement at the event, WLD's price saw a 3.9% increase. However, in the past 24 hours, the WLD token has seen a 3.61% decrease, currently trading at $2.17.

The token has also experienced an 80% decline from its peak of $11.9 in March.

The World project has faced several legal challenges in Mexico, Chile, and Colombia regarding the collection of personal data, but it claims to have registered 15 million World IDs.

The rebranding from Worldcoin to World is part of a broader trend in the crypto ecosystem, with MakerDao rebranding to Sky, Fantom to Sonic, and projects like SingularityNET, FET, and Ocean Protocol merging to form the Artificial Superintelligence Alliance. The most recent example is the merger of SingularityDAO, Cogito Finance, and SelfKey into Singularity Finance (SFI).

“Projects occasionally opt to rename or rebrand their tokens. This can be a strategic move driven by various business, operational, or commercial purposes. However, not all rebranding efforts are driven by legitimate business needs. There have been instances where projects rebrand their tokens without a clear or viable reason, sometimes with the intent to obscure or hide certain actions,” Binance Research noted.