Worldcoin launches WLD token with iris-scanning orbs for identity verification.
Over two million verified individuals globally to receive WLD tokens amid regulatory challenges.
Binance and Kucoin list WLD token, marking a major milestone for Worldcoin.
Worldcoin, a crypto project co-created by Sam Altman, has announced the launch of its WLD token, which will be distributed to over two million individuals globally. The project has been a subject of controversy within the crypto sector due to its focus on using iris-scanning orbs to help people verify their identity online. The majority of the verified individuals, particularly from the Global South, will receive their share of the WLD token today.
Tiago Sada, head of product, engineering, and design at Worldcoin’s main developer, Tools For Humanity, expressed excitement about the project’s milestone and the upcoming installation of orbs in various cities worldwide.
World Coin Goes Live!
The launch comes after facing multiple delays and coincides with a challenging regulatory environment for token issuers, especially in the United States. To remain compliant, Worldcoin’s team has clarified that its tokens will not be accessible in the U.S.
In a recent announcement, Worldcoin committed to expediting sign-ups by deploying orbs in more than 35 cities across 20 countries worldwide. As reported in March by The Block, Worldcoin had entered into an agreement with contract manufacturer Jabil to scale up production of these contentious devices.
Orb Expansion on the Horizon
The number of orbs in circulation is set to increase significantly, growing from approximately 200 to around 1,500 by the end of the year, according to Tiago Sada, the head of product, engineering, and design at Tools For Humanity, the main developer of Worldcoin.
“There’s a lot of different components to the project,” Sada said. “We offer each of those where we can and where we feel quite confident that we’re being respectful of each country’s rules.”
Individuals who have been verified through an orb will receive an initial allocation of 25 WLD tokens, along with periodic grants in the future. Additionally, starting today, people will have the option to reserve tokens through the World App until they can physically visit an orb, as mentioned by Sada.
Furthermore, Binance has announced plans to list Worldcoin (WLD) and plans to open trading for spot trading pairs WLD/BTC and WLD/USDT on July 24, 2023, at 09:00 (UTC). Users can already begin depositing WLD, and withdrawals are tentatively scheduled to open on July 25, 2023, at 09:00 (UTC).
Additionally, Kucoin also announced to list WLD Token in their spot trading platform, The trading of WLD will officially commence at 09:00 on July 24, 2023 (UTC) and withdrawals will be enabled starting at 09:00 on July 25, 2023 (UTC).
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