Worldcoin skyrockets 140% in one week, wallet app reaches 1 million daily users

The price of Worldcoin’s WLD token has risen 141% over the past seven days as the company reaches a milestone of daily active users.

Worldcoin token (WLD)

Worldcoin (WLD) token, a crypto project co-founded by OpenAI CEO Sam Altman, is up more than 140% in the last week as its daily users reach the 1 million mark.

In a February 18 post on X, Worldcoin announced that its crypto wallet application, called “World App,” has more than 1 million users. That’s significant growth since reaching 100,000 daily active users in November last year.

World App, the first wallet built for the Worldcoin project, passed 1M daily users this week. This community is incredible 🫡 pic.twitter.com/Mf6Y51gscQ

— Worldcoin (@worldcoin) February 17, 2024

Launched in July 2023 by OpenAI CEO Sam Altman and Alex Blania, Worldcoin is a self-described “privacy-protecting” digital identity verification project. It pays users its own cryptocurrency in exchange for scanning their irises.

Worldcoin’s goal is to try to implement Universal Basic Income worldwide, by giving everyone on the planet a small amount of their native WLD token in exchange for verifying their identity.

Controversial

However, Worldcoin’s aim to implement Universal Basic Income (UBI) along with its biometric identity system is also sparking controversy. This is largely centered around privacy concerns about its metal eye-scanning devices called “Orbs.”

On January 31, Hong Kong’s Personal Data Privacy Commissioner (PCPD) launched an investigation into Worldcoin’s local operations, citing “serious risks to personal data privacy.” The PCPD says it entered six Worldcoin-controlled premises in Hong Kong as part of its investigation.

Outside of Hong Kong, the project has attracted the attention of many jurisdictions’ regulators over privacy concerns, leading to the complete suspension of its services in Kenya and the pausing of iris scans in India.

Regardless of these regulatory concerns, the native Worldcoin token has posted gains of over 141% in the last week, buoyed by a broader rally across the crypto sector.

Meanwhile, Worldcoin’s gains over the week have coincided with several major updates from OpenAI.

Sora

On February 16, OpenAI unveiled its new text-to-video generator, Sora, which allows users to generate video clips and scenes from text prompts.

A week earlier, on February 9, Altman announced he would seek an astonishing $7 trillion to help the company finance and scale its semiconductor chip development. While the massive dollar amount raised eyebrows throughout the tech world, Altman was unimpressed.