By
Bhushan Akolkar
May 14th, 2024
The notable WLD growth is directly attributed to the success of World App, the first wallet built for the Worldcoin project.
The rise of Nvidia Corp (NASDAQ: NVDA) to a valuation of more than $1.72 trillion has been a huge game changer for Web3 companies focused on Artificial Intelligence (AI) led by Worldcoin (WLD). According to the latest market data, WLD price surged more than 233 percent in the past two weeks to trade around $8.09 on Friday during the early Asian session.
Other notable AI-crypto tokens that registered notable gains in the recent past include SingularityNET (AGIX), Artificial Liquid Intelligence (ALI), and Delysium (AGI).
The rise of the AI-crypto tokens is also bolstered by the notable increase in crypto cash rotation as Bitcoin (BTC) struggles to rally beyond $53k.
Worldcoin (WLD) Ecosystem Growth Factors
The Worldcoin project, co-founded by OpenAI’s CEO Sam Altman, experienced significant growth last year. As a result, the mid-cap altcoin has reached a fully diluted valuation (FDV) of about $80 billion and an average daily trading volume of around $1.1 billion. In the past four weeks, WLD price rallied more than 264 percent to reach a new all-time high.
The notable WLD growth is directly attributed to the success of World App, the first wallet built for the Worldcoin project. According to the company, the World App wallet recently clocked more than 1 million daily users. Worth noting that the World ID sign-up has surpassed 3.6 million users from 120 different countries.
In the past seven days, the World ID project has added around 747k new users. Whereby the total claimed WLD amounts to about 79.5 million units.
The Worldcoin project has significantly benefited from the affiliation with OpenAI through Altman. Recently, OpenAI announced the launch of Sora, an AI model that creates realistic videos from Tex instructions. Remarkably, the announcement triggered a bullish reaction for WLD price.
“The launch of OpenAI’s Sora and Nvidia’s impressive sales forecast are fuelling broader optimism surrounding AI that is spilling over into crypto. We’ve seen this in crypto in the past, where metaverse-related tokens rallied when Facebook changed its name to Meta,” Strahinja Savic, head of data and analytics at FRNT Financial, noted.
Market Outlook
The Worldcoin project has faced immense criticism for collecting people’s personal information and storing it in a centralized database. As a result, several countries around the world, led by Kenya, have blocked the Worldcoin operations.
In its defense, the Worldcoin team has argued that the users have control over their data, but the global economy belongs to everyone.
The demand for human verification to the Web3 ecosystem is growing rapidly as more global regulators demand for Know Your Customers (KYC) integration. Consequently, the Worldcoin project has huge potential for further growth in the near future.