Over the past 24 hours, the price of Worldcoin's native token WLD has skyrocketed by 35%.
The sharp increase comes as Open AI CEO Sam Altman announced he had raised an additional $50 million to support his ambitious cryptocurrency project.
Sam Altman bets on Worldcoin
Worldcoin is committed to creating a global identity and financial network. To date, more than 2.6 million people have used the orbs to scan their irises to receive a unique digital ID and free cryptocurrency.
In a recent interview with investment bank FT Partners, Sam Altman highlighted the growing importance of digital identity:
“In a world where there is a lot of artificial intelligence, knowing who is human is becoming increasingly important. We believed and believe that as AI becomes an increasingly important part of our lives, the ability to identify unique people will become more and more important,” he said.
Let us remind you that Worldcoin previously raised $115 million in a Series C funding round with the participation of Blockchain Capital, a16z Crypto and Bain Capital Crypto.
What happens to the price of WLD
Against the backdrop of Altman’s statement, the price of WLD reached $3.21. After this, the asset rate corrected slightly and at the time of writing is $3.07.
However, the hype around Worldcoin could potentially fade due to increased attention from the authorities.. Regulators around the world are investigating the project as the collection of biometric data potentially violates data protection laws.
Thus, the German regulator has been conducting proceedings against an American startup since November 2022. The project's activities also attracted interest from the British Information Commissioner's Office and the French data protection regulator.. The Kenyan Ministry of Internal Affairs suspended the work of the project in the country and sent officers, with the support of interdepartmental officials, with a search warrant to the Worldcoin offices. The Agency for Access to Public Information (AAIP) of Argentina is also interested in the project's activities.