Worldcoin, the iris-scanning crypto project, has seen its native token WLD drop 11% following news that OpenAI, the firm behind the popular chatbot ChatGPT, had fired the company’s CEO, Sam Altman.
Alman was removed from office after OpenAI’s board of directors reviewed his performance and concluded that he had not been performing as expected, thus losing confidence in his leadership.
WLD is now valued at $1.88, with a market cap of $217 million. Over the last 24 hours, the crypto asset has posted $140.21 million in trading volume, with 43% of this figure coming from the WLD/USDT trading pair on crypto exchange Binance.
The current price represents a 45% decline from WLD’s peak price of $3.29, recorded in July when the Worldcoin project launched.
But, according to data from CoinGecko, the wider AI crypto market has not been affected by Altman’s departure from a company he founded a few years ago. AI tokens have seen their market cap grow by 29% to $5.3 billion in the last 24 hours.
The Worldcoin Project
For starters, Worldcoin is a blockchain-based biometric project developed by tech company Tools for Humanity. Sam Altman partnered with Alex Blania and Max Novendestern to start the project in 2019. Worldcoin has managed to attract big-name investors, like Andreessen Horowitz, in recent months.
Worldcoin’s primary goal is to give humans a unique online identity in order to separate them from bots. Anyone willing to get their iris scanned using a device called Orbs receives a World ID and 25 WLD tokens.
WLD is built on Ethereum. While residents in the United States cannot buy the token, Worldcoin has placed several Orbs in the US major cities like San Francisco, Atlanta, and New York.
Worldcoin Criticised
Since its launch, Wolrdcoin has come under heavy criticism. Tech review website MIT Technology claimed a few months ago that the iris-scanning project had been acquiring its users through “cash handouts and deception.”
Moreover, privacy advocates have accused Worldcoin of violating data privacy policies by scanning people’s irises. Altman’s project is facing scrutiny from numerous governments, including France, Germany, and Germany.
SureTradeGroup.com is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site is paid content that is not written or posted by our writers or editors and the opinions expressed do not reflect the opinions of this website. Any disagreement you may have with brands or companies mentioned in articles will need to be taken care of directly with those specific brands and companies. The responsibility of anyone who may click links in our articles and ultimately sign up for that product or service is their own. Forex, Stocks, Cryptocurrencies, NFTs and Dogital Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.