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, a cryptocurrency project co-created by OpenAI CEO Sam Altman, has reportedly discontinued its Orb verification service in India, Brazil, and France. This comes just a few months after the launch of the eye scanning device in the country.
Worldcoin developer Tools For Humanity said in a statement to TechCrunch that it has expanded its service to many markets for “limited time access” this year.
Worldcoin is an identity-centric crypto project that uses Orb devices to scan people’s irises to prove their identity online. We use WLD as an incentive to join the protocol, rewarding users with tokens that will earn them a “World ID”.
The company will embark on a multi-city tour in early 2023, showcasing the Orb throughout North America, Europe, the Middle East and Asia.
Pop-up kiosks around the world drew crowds of thousands to register and collect tokens. Nearly 5 million people now have a World ID, and more than 2.5 million have “verified their humanity” through Orb.
Facing regulatory hurdles
But in August the project was halted in Kenya, one of its biggest markets, as the country assesses what risks it poses to the population. TechCrunch notes that similar regulatory hurdles may be behind this latest move.
Worldcoin continues to work to “work with partners around the world to meet regulatory requirements and provide safe, secure, and transparent services to verified humans,” Tools for Humanity spokeswoman Lily Gordon told the outlet.
When WLD launched in July, the price soared above $3, then fell to just below $1 in September, drawing criticism from some commentators who argued that the “low float” structure created artificially high prices. However, according to The Block’s pricing page, it is currently trading at $3.65, up 2.2% in the last 24 hours and 50% over the past month.
WLD/USD price chart. Image: Block/TradingView.
WLD sales by World ID 2.0 and Tools For Humanity
Last week, Worldcoin announced integrations with popular platforms including Telegram, Reddit, Minecraft, Shopify, and Mercado Libre as part of its “World ID 2.0” upgrade. “This update makes it easier to distinguish between bots and verified humans online while protecting your privacy through pre-built integrations with popular apps and services,” WorldCoin said in a statement.
Mexico and Singapore will join the list of locations where people can find Orbs and sign up for the service, with devices currently available in 12 countries, including the United States, Germany, Spain and South Korea, according to the Worldcoin website.
Earlier this month, The Block reported that Tools For Humanity is looking to raise more capital through a discounted WLD token sale and has held discussions with several investors in recent weeks about a possible over-the-counter sale of WLD.
Two people familiar with the process said the company hopes to raise up to $50 million and that WLD is likely to be priced at $1 per token. This is a significant discount compared to the typical spot price. However, another person close to the deal emphasized that no terms have yet been finalized.
The startup did not respond to The Block’s request for comment.
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