Worldcoin: For Every Human

By Rayna Ishihara | Crescent City Capital Market Analyst Intern

What is World Coin

Sum it up in one sentence: Worldcoin is a digital platform designed to offer every individual on the planet a convenient means of confirming their authenticity as a genuine human rather than a bot or an AI program.

Worldcoin was co-founded by Altman, renowned for creating ChatGPT. Ironically, Altman’s involvement in the AI industry has contributed to the ongoing AI gold rush, exacerbating the very issue that Worldcoin aims to address.

It is a decentralized digital platform that aims to provide users with a verified digital identity, a cryptocurrency token called Worldcoin (WLD), and a crypto wallet app. The project combines AI technologies, cryptocurrencies, and blockchain in an open-source protocol to give individuals access to a global economy. It took two years to develop, and its main goal is to address income inequality through a unique World ID. Worldcoin intends to tackle the challenge of distinguishing between human and AI-generated content online by implementing a digital passport system based on “proof of personhood.”

There are three parts to this Worldcoin project. Firstly, it aims to establish a globally applicable digital identity system that verifies individuals as human rather than bots or AI. Secondly, it seeks to introduce a global currency called Worldcoin tokens. Finally, it plans to develop an app that facilitates payments, transfers, and purchases using these tokens, as well as other cryptocurrencies and traditional assets. The project’s core objectives revolve around digital identity, global currency, and a versatile app for financial transactions.

World Coin Tech

Worldcoin, developed by Tools for Humanity, introduces a unique digital identity concept called the World ID, which aims to establish proof-of-personhood in an increasingly AI-driven world. At the core of the project is the Orb, a device that scans individuals’ irises to generate a unique identification code, ensuring they are human and preventing multiple World IDs. The Orb centers, located in various countries, conduct in-person iris scans and issue World IDs, which are stored on the Worldcoin blockchain. The World App serves as a crypto wallet and repository for users’ World IDs, enabling access to decentralized finance applications.

Worldcoin differentiates itself from other cryptocurrencies by providing a token for the future without requiring upfront investments. To obtain Worldcoin, individuals need to download the World App, visit an Orb center to scan their irises, and receive their World IDs. The project aims to create a global economy accessible to all, regardless of their location or economic status.

Critics have raised concerns about Worldcoin’s methods and goals. Ethereum founder Vitalik Buterin expressed worries about potential privacy issues and the possibility of unauthorized iris scanning. MIT Technology Review accused Worldcoin of deceptive marketing, data collection practices, and lack of informed consent. The company responded with a rebuttal denying involvement in data exploitation and emphasizing their focus on uniqueness rather than identity. There have also been criticisms of Worldcoin’s promotion in developing countries, raising concerns of exploitation.

Worldcoin has gained attention for its early funding round, which included an investment from Sam Bankman-Fried, the founder of failed crypto exchange FTX. Despite the criticisms and controversies, Worldcoin aims to provide individuals with a verified digital identity and a global currency, with the overarching goal of addressing income inequality and fostering a global economy for all.

Worldcoin Token

Worldcoin offers a cryptocurrency token called WLD. Users can obtain WLD by creating a World ID and downloading the World App. During the beta phase, WLD was given as incentives to early adopters who underwent iris scanning. After the official launch, a large quantity of WLD was airdropped to users, and it is now listed on crypto exchanges like KuCoin and Binance.

According to the Worldcoin white paper, a total of 10 billion WLD tokens will be issued over 15 years. Currently, around 143 million WLD are in circulation. Of this amount, 43 million were allocated to verified World App users, and 100 million were given to market makers. The Worldcoin Orb, which performs iris scans, also rewards users with WLD tokens. The tokens will be on the Optimism mainnet.

WLD is an ERC-20 token on the Ethereum mainnet, but the Worldcoin Protocol has migrated to the OP mainnet (Optimism), a layer-2 blockchain for Ethereum. During the beta phase, WLD was only available to early adopters, but incentives will continue post-launch, albeit in diminishing amounts. The token supply will be capped at 10 billion for 15 years, and the governance committee will decide on any future increases.

In terms of token distribution, 75% is allocated to the community, 9.8% to the development team, 13.5% to investors, and 1.7% is held in reserve. Users with World IDs and WLD tokens will play a significant role in protocol governance, actively shaping the future of the Worldcoin ecosystem as a community-driven initiative.

Recent updates

The live WLD price on October 6th  is $1.65 USD with a 24-hour trading volume of $80,057,857 USD. It has a circulating supply of 132,301,238 WLD tokens.

The price of Worldcoin has decreased by 7.44% in the past 7 days. Worldcoin is 54.05% below the all time high of $3.58.


Worldcoin is a very new cryptocurrency that launched on July 24th, 2023, just two months ago, under the leadership of OpenAI CEO Sam Altman. Since its inception, the project has faced criticism and controversies. However, despite such challenges, Worldcoin has demonstrated an impressive performance during this short period. The community maintains an optimistic outlook for its future prospects.

Since its public launch, millions of users have eagerly signed up for Worldcoin. People are drawn to the project for various reasons. Some are captivated by its technological advancements, while others are enticed by the complimentary tokens offered upon registration. The widespread excitement surrounding Worldcoin serves as a major motivator for the majority of participants.

Worldcoin’s popularity can be attributed to its global nature and the prevailing societal interest in the convergence of AI and human recognition. The project’s primary objective is to establish an expansive global system that promotes inclusivity, allowing individuals to possess both identity and financial resources. At the core of this vision lies the World ID system, enabling secure online authentication of human identity without compromising personal information.

From a market value perspective, it is worth noting that Worldcoin had a highly volatile debut in the trading market. Upon its initial trading day, the token launched at $1.80 and experienced a surge of 115%, reaching $2.19. However, it subsequently encountered a significant decline, dropping almost 40% and closing the day at $2.19, as depicted by the leftmost candle on the chart. The following day witnessed an additional 12% decrease, resulting in the token’s value reaching $1.91.

Furthermore, it is important to highlight that Worldcoin has achieved an impressive market capitalization of around 237 million US dollars within just two months, marking a significant accomplishment in the cryptocurrency realm. Last week, the price of Worldcoin stood at $1.78, indicating a 7.44% decrease over the week, with the current price at $1.65. However, over the past month, the price has risen by a notable 21.09%, starting from $1.37.The recent surge observed last month and the subsequent short-term decreasing trend can be attributed to the token’s ability to find support and resistance levels, leading to a subsequent rebound and pushback.

Provided below is a zoomed-in chart displaying the most recent support and resistance lines.

The resistance line on the chart is observed to be at a value of approximately $1.75, while the support line is at around $1.14. Notably, on September 13th, Worldcoin hit its all-time low at approximately $0.976, which occurred about a month ago. Following a crossing below the support layer on September 10th, the price initiated an upward push, successfully surpassing the support layer and contributing to the price surge witnessed last month.

Currently, it is crucial to evaluate the resistance layer, which is positioned at a price value of $1.75. Examining the chart, we can observe that from September 15th to October 2nd, the price consolidated within the range defined by the support and resistance layers. Presently, the price stands at $1.65, and from a technical standpoint, it is possible that the price may experience a slight further decline. This anticipation is based on the repeated attempts to breach the resistance layer several days ago, which were unsuccessful. Consequently, the price has recently started to retreat.

The purple RSI (Relative Strength Index) indicator displayed on the chart also reflects the price fluctuation. During the period from September 27th to October 2nd, when the price of Worldcoin approached the resistance layer, the Relative Strength Index reached its highest level at 65. It is worth noting that an RSI level above 70 typically generates sell signals and indicates that a security may be overbought or overvalued. Overbought assets often indicate recent or short-term price movements, suggesting an expectation of an impending correction in the near term. Therefore, this serves as an additional reason why we anticipate a potential further downward push in the price.

Notably, Due to the Worldcoin’s novelty and limited available information, making accurate forecasts can be challenging and more prone to inaccuracy compared to established assets.


Worldcoin is a project that introduces a digital identity system called World ID. The World ID is obtained by undergoing iris scanning through the Worldcoin Orb, which generates a unique identification code. This digital identity aims to establish proof-of-personhood in an AI-driven world.

The project’s goal is to provide individuals with a verified digital identity that can be stored on the Worldcoin blockchain. The World ID enables access to decentralized finance applications through the World App, which serves as a crypto wallet and repository for users’ identities.

Worldcoin aims to create a global economy accessible to all, regardless of their location or economic status. By offering a unique digital identity, they strive to address income inequality and foster a more inclusive global economy.

The project has faced criticism and controversies, including concerns about privacy and data collection practices. However, Worldcoin continues to emphasize its focus on uniqueness rather than identity and its commitment to providing individuals with a verified digital identity.