Worldcoin, a cryptocurrency initiative led by OpenAI CEO Sam Altman, has soared to unprecedented levels — joined by dozens of other AI-related currencies and stocks.
Worldcoin's WLD token recorded a notable 21% price increase over the past 24 hours, rising from $7.08 to an all-time high of $8.96 per token – before settling at $8.20 at the time of writing, according to CoinGecko.
This jump represents a staggering 300% rise in February alone, a month that began with WLD valued at just $2.20.
Photo: TradingView
Worldcoin's big goal is to be the primary decentralized digital identification platform that gives every person on the planet the ability to prove their humanity — and distinguish real people from robots or AI algorithms. To achieve this, Tools for Humanity, the startup behind the protocol, developed World ID, a privacy-focused solution that allows users to assert their “humanity.”
This verification process relies on the Orb, an iris scanning device that generates a unique IrisCode for each user. This code, which resembles a fingerprint, is stored on a decentralized blockchain network, ostensibly protecting it from fraud.
Although it sounds miserable, people gather to offer their eyes to the orb and record their iris. World App, the project's first wallet, surpassed 1 million daily users this week.
The idea has gained a lot of interest, especially among young people and citizens in developing countries where the money they receive in exchange for registering their identities is valuable enough to constitute a significant secondary income.
The excitement is not limited to Worldcoin alone. The broader AI token market is also on fire, with notable projects like The Graph, Ocean, and Render Protocol seeing gains of more than 50% in the past seven days.
Fetch AI was up 75%, Forgotten Golem was up 68%, and SingularityNET recorded a 120% increase.
The AI enthusiasm extends to the stock market as well, which was already buoyed by Nvidia's announcement of record profits yesterday. Nvidia (NASDAQ:NVDA) stock has risen 16% since then, gaining nearly 30% in February to reach an ATH of $785.
Photo: TradingView
Other tech giants, including AMD and Microsoft, also saw big rises, with AMD (NASDAQ:AMD) seeing an 11% rise today and Microsoft (NASDAQ:MSFT) enjoying a 3% rise. Meta, which should not be left behind, rose almost 4% today, contributing to its 25% growth during the month. All of these stocks are flirting near their all-time high prices.
Renewed interest in artificial intelligence has been the driving force behind the S&P 500's recovery since last year, with technology companies at the center of discussions among analysts. The spike in related searches on Google Trends also indicates a widespread fascination with artificial intelligence and its potential impact on the cryptocurrency market and the broader financial landscape.
Edited by Ryan Ozawa.
