Worldcoin surges as Sora launches text-to-video tool developed by OpenAI’s Sam Altman

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WorldCoin

17th February 2024 – (New York) Worldcoin (WLD) experienced a substantial rise to $4.40 following the introduction of Sora, a text-to-video tool developed by Sam Altman’s OpenAI. The involvement of Altman, who is associated with both the digital identity protocol Worldcoin and the renowned Silicon Valley artificial intelligence firm OpenAI, likely contributed to the surge in bullish sentiment among WLD speculators. As a result, trading volume for the cryptocurrency soared by over 281% within a 24-hour period.

Altman, the founder of Tools For Humanity, played a pivotal role in the creation of Worldcoin. However, it is worth noting that Sora itself does not have a direct link to the $571 million market-capitalized WLD cryptocurrency, except for Altman’s affiliation.

Worldcoin, represented by the native token WLD, operates as an iris-scanning blockchain solution that Altman envisions as the future’s largest financial network and decentralised identification ledger. Since its launch in July 2023, the protocol has faced resistance in certain jurisdictions primarily due to concerns surrounding privacy.

Shortly after WLD’s launch, Kenya suspended Orbs enrollments, despite initially being one of the first countries targeted as a user base by Tools For Humanity. The move was in response to perceived risks to personal data security associated with Altman’s on-chain ID startup. Similarly, French regulators initiated an investigation into the firm for similar reasons.

However, Worldcoin has continued to expand its presence in other regions, such as South America. Over 1% of Chileans have already signed up with the protocol, indicating a growing interest in the platform. Additionally, Singapore has embraced Orb hardware devices, allowing Worldcoin to gather data from new participants in the Asian market.

Previously, global Orb operators could receive payments in Circle’s stablecoin USDC. However, changes were announced in October last year, and the company transitioned all its operations to WLD-denominated payments.