The Sam Altman crypto project “Worldcoin” is out

The Sam Altman crypto project “Worldcoin” is out

Time Stamp: July 24, 2023 4:34 AM
Source Node: 2781733

Worldcoin, also known as the Sam Altman crypto project, is now out, and people can buy it online. Today, we will give you all the details about it, including important details on how to buy Worldcoin and more!

The Worldcoin Foundation, a cryptocurrency project led by Sam Altman, is expanding its services around the globe even as the OpenAI CEO’s company, which he co-founded, encounters legal resistance in the US.

The Berlin and San Francisco-based startup declared on Monday that 35 locations across 20 nations will now have access to its technology, including its Worldcoin token, a cryptocurrency traceable on the blockchain that needs users first to establish their identity.

The cryptocurrency founders claim that an eye-scanning physical “orb” is essential for a future in which telling people and robots apart would become more difficult due to an increase in artificial intelligence technologies. Users can receive one of the company’s tokens after demonstrating that they are not automatons.

However, the company’s objectives risk being thwarted by US regulators who are tightening down on digital assets due to concerns that they would be exploited as a means of speculation and fraud. Because of this, the tokens won’t initially be offered in the US.

“When we started thinking about this, we didn’t think it would end up as ‘world minus the US coin,’ and here we are. I’d say there’s 95 per cent of the world’s population not in the US. The US does not make or break a project like this,” Altman told the Financial Times.

While the launch of the coin coincides with significant advancements in AI, such as OpenAI’s release of ChatGPT last year, it also does so during a historically turbulent time for digital tokens and the larger crypto industry.

Last year, the industry had a crisis of trust that led to the failure of key players like FTX and Celsius, as well as the flurry of enforcement measures that regulators launched to rein in speculative crypto projects.

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The venture capital firms Andreessen Horowitz and Khosla Ventures, internet entrepreneur Reid Hoffman, and Sam Bankman-Fried—before his FTX business collapsed—all invested about $250 million in Worldcoin despite the regulatory obstacles.

sam altman crypto, worldcoin
Here is a chart of the new crypto’s distribution (Image Credit)

How to buy Worldcoin

The biggest cryptocurrency exchange, Binance, said that it would list Worldcoin, with a possible trading start time of Monday at 0900 GMT.

The Worldcoin software development kit (SDK), which was previously only accessible in beta mode, is now available to developers so they may build tools and applications that use the World ID, the project’s identity system. Users must have their irises scanned using Orb in order to be properly authenticated.

According to the business, Orb is a specially developed gadget that extracts a unique identification from human irises without processing or storing any associated data locally.

Worldcoin airdrop

The official roadmap is that Worldcoin would airdrop 10 billion pieces of Worldcoin (WLD) once it has attracted 1 billion users.

8 billion of them will be given out as airdrops to the community, while the remaining billion will be used to fund the cryptocurrency protocol over the long term (including presents for programmers, tool contributors, and investors; the first round of financial institutions received 100 million dollars worth of tokens).

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The Sam Altman crypto: Worldcoin NFT

It is unclear whether you can still mint Worldcoin NFT or not, but a couple of months ago, people followed the steps below to do so:

  1. Visit the ZORA-powered Worldcoin NFT minting website to get started.
  2. To free mint your NFT, simply connect your Metamask wallet to the Ethereum network. Please be aware that there will be a small flat fee in addition to an ETH Tx fee.
  3. As a further celebration of the cryptocurrency’s arrival on the Optimism Mainnet, a Free limited edition SBT is being made accessible to Mint through Decent.xyz.
  4. Think about becoming a Worldcoin Operator to receive payment for each new user you register with an Orb. You’ll make more money the more involved you are!

Featured image credit: Tools For Humanity

Disclaimer: Nothing on this site should be construed as investing, financial, trading, or any other kind of advice. No cryptocurrency is recommended for purchase, sale, or storage by Dataconomy. Before making any investing decisions, you should do your own research and consult with a financial professional.

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