What Is Worldcoin (WLD) Token And Where Can You Buy It?
- By Coingape Staff
- Updated on July 24, 2023
Sam Altman, the CEO of OpenAI Inc., plans to launch his cryptocurrency Worldcoin (WLD) token on Monday, according to Semafor. The story, which cited unnamed sources with knowledge of the situation, stated that a breakdown of how the Worldcoin tokens will be allocated will also be made public. At the most recent fundraising event for Worldcoin, investors from a16z crypto, Bain Capital Crypto, and Distributed Global also took part.
The community is waiting for the token launch because the company has stated that this initiative, which will start in the next weeks, seeks to function as a global universal basic income by issuing crypto tokens in exchange for biometric data. As we wait for the date, let’s first understand the Worldcoin token and know where to buy it.
What Is Worldcoin (WLD) Token?
The Worldcoin initiative seeks to provide everyone with a cryptocurrency token “just for being a special individual.” They are handed the tokens without charge after their identity has been verified using a device that scans their irises.
Worldcoin would operate differently as a digital currency than industry leaders Bitcoin or Ethereum because it will provide users access to a token representing the future currency without forcing them to invest. The currency should function as a type of universal basic income to promote more fair access to the global economy, according to co-founders Altman and Alex Blania.
According to the Worldcoin website the individuals and groups that support Worldcoin are creating the instruments that cooperate to assist it in achieving its goals. These consist of:
- World ID is a privacy-preserving digital identification created to assist in addressing numerous significant identity-based problems, such as establishing a person’s distinct personhood.
- Worldcoin Token is the first token to be distributed globally and without restriction to individuals for both usefulness and potential future governance.
- A fully self-custodial program called the World program allows for international payments, purchases, and transfers utilizing the Worldcoin token, digital assets, stablecoins, and conventional currencies.
Importantly, Worldcoin token can demonstrate humanity in a virtual environment dominated by increasingly sophisticated artificial intelligence thanks to World ID’s distinctive digital identification.
Worldcoin will run on top of Ethereum’s base layer, utilizing a layer-2 network theoretically. Optimistic rollups are used to address scalability. The underlying coin follows the Ethereum ERC-20 standard. This allows it to be interoperable with a wide range of current tools and services.
How Does The Worldcoin Token Work?
Around 80% of Worldcoin’s total supply was intended for distribution to people all around the world. It intends to achieve this by offering free cryptocurrency to as many new “unique users” as possible as an inducement to sign up, with an emphasis on developing nations in particular. To start distributing Worldcoin, the company has already sent out around 25 operators across the world.
The user registration process for Worldcoin is its most notable—and contentious—aspect. You must have your eyes scanned to demonstrate that you are a “unique human,” in the words of Worldcoin, to register with the system and receive your free share of Worldcoin.
According to Worldcoin, this procedure is required to confirm an account’s uniqueness. It guarantees that each user can sign up once and get their reward, ensuring that the supply of Worldcoin is distributed equally.
Users must first speak with an “Orb operator” to register for the system and receive their free Worldcoin share. The Orb, a spherical, specially manufactured instrument that scans people’s eyes, is something these folks carry along.
There have been 1 billion Worldcoin (WLD) tokens produced, which indicates that there are one billion tokens in total supply, according to Etherscan. The Worldcoin token has been delivered in a limited quantity to addresses on OKX and Bybit, indicating that both exchanges have listed it for trading.
More than 95% of WLD is contained in six addresses. This suggests that only six addresses own a sizable portion of the total amount of Worldcoin. These addresses belong to people or organizations that hold a significant amount of the total supply of tokens.
Where Can You Buy Worldcoin Tokens?
One can purchase Worldcoin tokens online and the recommended exchanges are BitGet and XT.COM where you can exchange Worldcoin. There are numerous additional places where you can purchase Worldcoin tokens.
Buying options are listed by CoinMarketCap. Enter “WorldCoin” into the CoinMarketCap search bar. Near the price chart, press the “Market” button. As of today you can buy Worldcoin token at Binance, Bithumb, Kucoin and Uniswap.
The levels of security, dependability, and liquidity vary amongst platforms. One should do their homework before opening an account. Every platform operates uniquely. Some platforms are relatively simple to use, but others are not.
In general, buying cryptocurrency with a fiat currency like the US dollar will be simpler than doing it with another cryptocurrency. If you must buy Worldcoin using another cryptocurrency, you must first build a crypto wallet that accepts Worldcoin. You must then acquire the first cryptocurrency and use it to purchase Worldcoin on the platform of your choice.
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