Worldcoin, co-founded by OpenAI’s Sam Altman, has experienced a remarkable 170% price surge following the announcement of OpenAI’s video creating model Sora.

According to CoinMarketCap, Worldcoin is trading at $6.83 at the time of writing, marking a staggering 165% increase from the $2.5 price tag a week ago. With the current price, Worldcoin’s market cap is near $900 million.

Source: CoinMarketCap

On Feb. 18, the company also posted on social media to announce that the daily active users of World App have exceeded one million, setting the new milestone for the project.

The blockchain analytics platform Spot On Chain pointed out that Alameda Research holds 25 million WLD tokens, about 19% of the circulation supply.

The $WLD skyrocketed 163% (7D) to a new ATH of $6.69 today!

Note that #Alameda Research still holds 25M $WLD ($167M), ~19% of the circ supply.

They received those $WLD from #Worldcoin on Aug 15, 2023, when the price was only $1.78 (~$44.4M) and still left the tokens untouched.… pic.twitter.com/7K9o5aqJbP

— Spot On Chain (@spotonchain) February 19, 2024

“They received those WLD from Worldcoin on Aug 15, 2023, when the price was only $1.78 (~$44.4M) and still left the tokens untouched,” said Spot On Chain.

Worldcoin Project Raises Privacy Concerns

Worldcoin started as a digital identity project that uses blockchain technology to verify users’ identities securely. Founded by Sam Altman, Max Novendstern and Alex Blania, the initiative rewards individuals with its WLD token for participating in iris scans.

The project’s distinctive feature, the “Orbs,” are devices designed for these iris scans. While innovative, they have raised privacy concerns among regulators and the public.

Aimed at supporting Universal Basic Income (UBI), Worldcoin proposes a new model for distributing wealth using cryptocurrency.

In November 2023, Altman was announced to depart OpenAI, the creator behind generative artificial intelligence tools ChatGPT and DALL·E. He was abruptly removed from his position due to his alleged lack of candid communication.

Worldcoin price was initially impacted and took a dip, until it rebounded as Altman remained onboard of the project. Altman returned to OpenAI with major changes of the company’s board members within two weeks post his departure.

Sora: OpenAI’s Text-to-Video Model

On Feb. 15, OpenAI published the web page for its latest text-to-video model, Sora.

“Sora can create videos of up to 60 seconds featuring highly detailed scenes, complex camera motion, and multiple characters with vibrant emotions,” said OpenAI.

here is sora, our video generation model:https://t.co/CDr4DdCrh1

today we are starting red-teaming and offering access to a limited number of creators.@_tim_brooks @billpeeb @model_mechanic are really incredible; amazing work by them and the team.

remarkable moment.

— Sam Altman (@sama) February 15, 2024

The page included numerous videos of various themes and styles and arguably demonstrated some of the most advanced video-generating technology. Altman stated that the tool will be open to “a limited number of creators” at this stage.

The post Sam Altman’s Worldcoin Surges 170% in a Week with 1 Million Daily Users appeared first on Cryptonews.