- Worldcoin surpassed 1 million users and saw a 141% increase in $WLD token price, despite regulatory challenges in India, Kenya, and Hong Kong.
- Initiated by Sam Altman, it rewards users with WLD tokens for iris scans, aiming to revolutionize digital identity verification.
- Despite regulatory issues, the user base grew from 100,000 in November to 1 million by late February, showing strong market confidence.
Worldcoin ($WLD) has reached a significant milestone, surpassing 1 million users in its wallet app as of February 19. Despite facing challenges related to security and regulations, the question remains: will these obstacles halt its growth?
Worldcoin announced it had hit a million users in its token wallet on its X account yesterday. They expressed their gratitude, with the words: “This community is incredible.”
Moreover, the Worldcoin token witnessed a surge in price over the past seven days, marking an increase of 141% in the WLD price.
The main objective of launching Worldcoin by Sam Altman was to transform digital identity verification with a privacy-preserving system. Since then, curiosity and interest have led individuals from around the world to acquire the token through Iris scanning. This is a unique way they reward the WLD token to their users.
However, regulators and security officials from different countries have noticed this. For instance, Worldcoin faced regulators from India, Kenya, and Hong Kong. Commissioners in Kenya and India stopped the issuing of the token, exercising their threats towards privacy protection, and suspended the project service. Moreover, on January 31 in Hong Kong, the Privacy Commissioner for Personal Data launched an investigation regarding serious risks to personal privacy associated with the project.
Although the token faces challenges and obstacles from the regulation and privacy sectors, development and the surge in the token have swum against the wind. Currently, Sam Altman has announced the text-to-video generator, and Sora by OpenAI has generated optimism in the $WLD market. Moreover, the Worldcoin community has significantly increased its users, from 100,000 in November to 1 million in late February, demonstrating investors’ trust in Worldcoin.
At the time of writing, the WLD token was trading at $6.91, with a trading increase of 1.09% over the last 24 hours. In the seven-day market cap, the WLD token has soared 156% with a trading volume of 17.24 million in the last 24 hours.