Worldcoin’s Price Surges 170% Following OpenAI Announcement
Worldcoin, co-founded by OpenAI’s Sam Altman, has seen a remarkable 170% increase in price after the announcement of OpenAI’s video creating model Sora. At the time of writing, Worldcoin is trading at $6.83, marking a staggering 165% increase from its price of $2.5 just a week ago. The surge in price has resulted in Worldcoin’s market cap nearing $900 million.
In addition to the price surge, Worldcoin also announced that the daily active users of its World App have exceeded one million, setting a new milestone for the project.
However, concerns have been raised about Worldcoin’s privacy practices due to its use of iris scans and the devices called “Orbs” designed for these scans.
Worldcoin Aims to Support Universal Basic Income
Worldcoin’s main objective is to support Universal Basic Income (UBI) through its cryptocurrency distribution model. The project rewards individuals with its WLD token for participating in iris scans.
The departure of Sam Altman from OpenAI in November 2023 initially impacted Worldcoin’s price, but it rebounded when Altman remained involved with the project.
Sora: OpenAI’s Text-to-Video Model
OpenAI recently introduced Sora, its text-to-video model that can create highly detailed videos up to 60 seconds long. The model features complex camera motion and multiple characters with vibrant emotions. Access to Sora is currently limited to a select number of creators.
Hot Take: Worldcoin’s Success and Privacy Concerns
Worldcoin has experienced significant success with a 170% surge in price and one million daily users. However, concerns about privacy have been raised due to the use of iris scans and the Orbs devices. It remains to be seen how Worldcoin addresses these concerns while continuing to support its goal of Universal Basic Income.
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