Key takeaways
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Worldcoin’s protocol launch is slated for today, July 24th.
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The project will also launch its WLD token today, months after raising over $100 million.
Sam Altman’s Worldcoin to go live today
Sam Altman’s crypto project Worldcoin is slated to launch its mainnet protocol and native WLD token today, July 24th. The company made this announcement via Twitter over the weekend.
It's time. 24.7.23 pic.twitter.com/9oHW4DIMJX
— Worldcoin (@worldcoin) July 23, 2023
Worldcoin is a cryptocurrency project created in part by OpenAI CEO Sam Altman. Worldcoin has garnered attention in the crypto space and Silicon Valley for its ambitious approach to trying to solve two major problems: Online identity authentication and income inequality.
Tools for Humanity, the company behind Worldcoin, raised $115 million in a Series C funding round in May. The funding was led by prominent crypto venture capital firms, including Blockchain Capital. a16z, Bain Capital Crypto and Distributed Global.
Worldcoin co-founder Alex Blania believes that in the age of AI, the need for proof of personhood has become very important. Blania added that the proof of personhood solutions need to be privacy-oriented, decentralized and maximally inclusive.
Worldcoin to unveil its WLD tokenomics today
In addition to the launch of the WLD token, Worldcoin will reveal the exact tokenomics of the project.
This latest cryptocurrency news comes after Worldcoin released a wallet for its protocol called World App. The wallet is currently operating on the Polygon blockchain.
Worldcoin’s parent company, Tools for Humanity, has offered people from various parts of the world free WLD tokens in exchange for scanning their irises with a device called “The Orb.”
According to the company, the Iris scans ensure that people can have only one Worldcoin ID. The Worldcoin ID could be used to differentiate real people from bots. It could also help reduce or eliminate fraud if governments around the world decide to distribute “universal basic income” to their citizens.
At the moment, the WLD token will not be available to investors in the United States due to regulatory uncertainty.