Crypto project Worldcoin, co-created by Sam Altman, has launched its WLD token, which will be distributed to over two million individuals worldwide. The project has recently stirred controversy due to its use of iris-scanning orbs for identity verification online. Today, the majority of verified individuals, particularly from the Global South, will receive their share of the WLD token.
Tiago Sada, head of product, engineering, and design at Worldcoin’s main developer, Tools For Humanity, expressed excitement about the project’s milestone and the upcoming installation of orbs in various cities globally.
The launch of Worldcoin comes after facing multiple delays and during a challenging regulatory environment for token issuers, especially in the United States. To remain compliant, Worldcoin has clarified that its tokens will not be accessible in the US.
In an effort to expedite sign-ups, Worldcoin has committed to deploying orbs in more than 35 cities across 20 countries worldwide. The expansion of these controversial devices is made possible through an agreement with contract manufacturer Jabil, as previously reported in March by The Block. The number of orbs in circulation is expected to grow significantly, reaching around 1,500 by the end of the year.
Once verified through an orb, individuals will receive an initial allocation of 25 WLD tokens, along with periodic grants in the future. Starting today, people will also have the option to reserve tokens through the World App until they can physically visit an orb, as mentioned by Sada.
In addition, Binance, a leading cryptocurrency exchange, has announced its plans to list Worldcoin (WLD) for trading. Spot trading pairs WLD/BTC and WLD/USDT will be available on July 24, 2023, at 09:00 (UTC), with deposits already being accepted. Withdrawals are tentatively scheduled to open on July 25, 2023, at 09:00 (UTC). Furthermore, Kucoin has also announced its listing of the WLD token on their spot trading platform, with trading commencing on July 24, 2023 (UTC).
Worldcoin’s launch and token distribution mark a significant milestone for the project, as it aims to revolutionize identity verification using iris-scanning technology. With the support of Binance and Kucoin, the WLD token is set to gain further visibility and accessibility in the cryptocurrency market.
