OpenAI, the US-based artificial intelligence (AI) research institute behind the popular ChatGPT, last week introduced Sora, a new AI model that helps generate 60-second videos from text commands. This is an important moment, but the technology is still new.
According to data from CoinGecko, Worldcoin (WLD), the blockchain project led by OpenAI CEO Sam Altman, soared shortly after the tool was introduced, from around $3 at the time of Sora’s introduction to over $7 at press time.
WLD has surged more than 188% over the past seven days and has hit a new all-time high as bullish momentum continues to build on OpenAI’s groundbreaking milestone in AI development. Big things are happening in AI. People are investing money in this, but the long-term impact may be limited.
AI is hot!
OpenAI also posted a few short clips showing what Sora’s output looks like. One of the clips shows Tokyo in winter, with people strolling through a street vendor area under blooming cherry blossom trees. Another video shows a model walking under neon lights in downtown Tokyo.
According to OpenAI, Sora can generate high-quality, nearly life-like video of up to one minute, allowing language users to customize complex content details, visuals, layout, colors of people and scenes, and more.
However, the company notes that Sora’s imaging still has some limitations, such as not being able to simulate physical effects, ensure causality, distinguish between left and right, or follow the camera trajectory.
Altman also interacted with the community, resharing text descriptions of videos Sora produced with his followers. Undoubtedly, AI tools quickly caught the public’s attention and generated widespread interest.
Within hours of its introduction, Sora became one of the most popular hashtags on X. Most members have embraced this tool as the next big thing in AI development. Meanwhile, Sora’s rapid development has sparked controversy, with many seeing it as a threat to the workforce.
Many questions remain
Sora, which is making waves across social channels, is currently not publicly available due to safety and security concerns. OpenAI confirms that it will work with technology and legal experts to ensure that its products are not exploited by malicious actors to create fake news, harmful content, and image piracy.
In the past, WLD was also subject to great volatility due to news related to OpenAI. The most recent incident is that Sam Altman reportedly stepped down as CEO, which caused the price to drop. When he returned a few days later, WLD soared 13% on the news.
While the OpenAI toolset focuses on helping AI assist humans, Worldcoin’s vision is to distinguish humans from robots by scanning their irises.
Despite ongoing controversy, Worldcoin has achieved several achievements since its launch. Following two funding rounds in 2021 and 2022 totaling $125 million, the company raised $115 million in May 2023 in a funding round led by Blockchain Capital with participation from a16z, Bain Capital Ventures, and Distributed Global. raised money.
In addition to funding, Worldcoin has established partnerships with several key industry players, including Optimism. According to the company’s announcement, Worldcoin’s World ID and World App will leverage the OP stack.
By the end of last year, Worldcoin had launched World ID 2.0 with three-step verification and integrations with major platforms such as Minecraft, Reddit, Telegram, and Shopify. Worldcoin also stated at launch that it is executing plans to expand its operations to Mexico, Singapore, and several other Asian countries.
According to information on the project website, more than 3.4 million people have verified their identity by scanning their irises with Orb, and more than 76 million WLD tokens have been distributed to Worldcoin users.
