Worldcoin: Balancing Hype and Skepticism in Its 66-Day Journey

In a whirlwind 66 days since its public debut, OpenAI CEO Sam Altman’s brainchild, Worldcoin, has garnered widespread attention, drawing both fervent support and vocal skepticism. The project’s allure lies in its cutting-edge technology, enticement of free tokens upon signup, and the pervasive hype surrounding its launch.

Kenya’s decisive move to halt Worldcoin’s citizen scanning underscored the polarized response, yet the company forges ahead with unwavering determination.

Tiago Sada, Head of Product at Tools for Humanity and a pivotal contributor to Worldcoin, emphasized the importance of healthy skepticism. He noted, “We have seen a ton of adoption…people just are really, really excited by the Orb.”

Since its inception, a staggering 2.325 million individuals from 120 countries have engaged with the Worldcoin Orb, registering via iris scanning. In the past week alone, 39,000 new accounts were created, accompanied by a staggering 130,000 daily wallet transactions, as per the company’s official figures.

Embarking on a global tour, Worldcoin made its mark in major cities like Tokyo, Miami, New York City, and San Francisco. Interestingly, it gained notable traction in smaller, emerging regions, even though the company asserts widespread appeal.

“In Portugal, more than 1% of the population has already signed up for Worldcoin, so we’re starting to see some real traction all over the world,” Sada declared. This milestone was reached in February, suggesting that adoption has surged beyond this figure.

Recent data reveals that over 200,000 people in Chile have verified their World IDs, accounting for over 1% of the nation’s population.

Although Sada couldn’t pinpoint the leading adopter nation, he disclosed that during beta testing, Worldcoin focused on four key markets: Buenos Aires, Argentina; Nairobi, Kenya; Lisbon, Portugal; and Bangalore, India.

The Orb’s allure is undeniable, invoking a blend of utopian and dystopian imagery reminiscent of science fiction. Its silver spherical form belies its unexpected weight, owing to its internal battery. Close encounters with the device elicit an urge to photograph, touch, and even peer into it, though iris scanning remains an opt-in choice.

Worldcoin’s financial trajectory mirrors its meteoric rise. A Series C funding round in May secured a formidable $115 million from backers including Blockchain Capital, a16z, Bain Capital Crypto, and Distributed Global. This followed a staggering $100 million infusion at a $3 billion valuation in March 2022.

 

Source: Techcrunch

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