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WLD’s Wild Ride: From $1.24 to $1.63—Is This the Next Bitcoin or Just a Fad?

BBG News

Ah, Worldcoin (WLD), the biometric identity token that has somehow managed to hitch its wagon to the star of Sam Altman, the CEO of OpenAI. In a twist that would make even the most seasoned market watchers raise an eyebrow, WLD has soared by more than 31%. Yes, you heard that right! From a humble daily low of $1.24, it has gallantly leaped to a high of $1.63, all thanks to a $135 million investment from the illustrious VC firms Andreessen Horowitz (a16z) and Bain Capital Crypto. Who knew that a few bucks could make such a difference? 💸

This moment, dear reader, is nothing short of a pivotal chapter in the grand saga of Worldcoin, which is now scrambling to scale its U.S. operations. Why? Because apparently, there’s a growing demand for AI-proof human verification. Who knew we needed that? 🤖

Funding to Fuel Expansion

The capital injection, revealed in a blog post on May 21, was structured as a private token sale. Because, of course, nothing says “trust us” like a private sale! This windfall will support World Network’s ambitious U.S. rollout, which includes deploying a staggering 7,500 iris-scanning Orbs across the country. Yes, you read that right—7,500! They aim to reach as many as 180 million Americans by the end of the year. Talk about ambitious! 🌍

“This funding opportunity is in service to the long-term mission of World and is backed by the builders who believed in World from the beginning,” the team stated. Well, isn’t that heartwarming?

Last month, the project launched in six cities: Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco. Users in these locations can now receive WLD tokens in exchange for biometric verification via Orb. Because who wouldn’t want to trade their privacy for a few shiny tokens? 😅

The cryptocurrency grants access to several features, including token-backed loans, prediction markets, and a soon-to-be-launched Visa card for real-world spending. According to the project team, its global user base has climbed to more than 26 million, and it has already issued 12.5 million Orb-verified IDs. That’s a lot of Orbs! 🎉

But wait, there’s more! Despite the momentum, World continues to face scrutiny. Privacy concerns have led to legal clashes in Germany and Brazil, while Singaporean lawmakers have raised red flags over biometric data handling and account misuse. However, the company insists scans are anonymized and deleted after verification. Because that’s reassuring, right? 🙄

The project has had mixed success recently, navigating operational suspensions in Kenya and Hong Kong, while entering a partnership with Match Group for age verification on Tinder in Japan. Observers say this points to a strategic pivot toward practical use cases. Because nothing says “serious business” like verifying ages on a dating app! 💔

Market Dynamics

Meanwhile, a recent Tokenomist report revealed that more than 37 million WLD tokens with a market value north of $35 million were unlocked between May 5 and May 12. The expected sell pressure from the unlocks seems not to have affected short-term price stability as much as anticipated, with WLD trading at around $1.54 at the time of writing. The current price marks a sharp 164% rebound from its all-time low recorded in early April. Who knew a little drama could be so profitable? 📈

Additionally, over the past week alone, the asset has jumped 31.4%, outperforming both the broader crypto market, which rose 6.5% in that period, and its smart contract platform peers, which are up just 6.8%. It seems WLD is the overachiever in the crypto classroom! 🎓

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2025-05-23 14:06

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