Worldcoin, a cryptocurrency project spearheaded by Sam Altman, the CEO of OpenAI, has surged to unparalleled levels, accompanied by a dozen other AI-linked tokens and equities.
The WLD digital currency of Worldcoin has witnessed a remarkable 21% surge in value over the past day, surging from \(7.08 to a record high of \)8.96 per token, before stabilizing at $8.20 at the time of this composition, as per data from CoinGecko.
This surge signifies a remarkable 300% increase in value during February alone, a stark contrast to the initial value of $2.20 at the beginning of the month.
Image: Tradingview
At the core of Worldcoin’s proposition lies the ambition to serve as the primary decentralized digital identification platform, granting every individual the means to validate their humanity, thereby distinguishing genuine individuals from bots or AI programs. To realize this vision, Tools for Humanity, the entity behind the initiative, introduced World ID, a privacy-centric solution enabling users to authenticate their “humanness.”
This authentication process hinges on the Orb, an iris-scanning gadget that generates a unique IrisCode for each user. This code, similar to a fingerprint, is securely stored on a decentralized blockchain, purportedly safeguarding it against fraudulent activities.
Despite its somewhat dystopian undertones, individuals are willingly submitting to the Orb for iris registration. The World App, the project’s inaugural wallet, has surpassed the milestone of 1 million daily users this week.
The concept has garnered significant traction, particularly among the youth and residents of developing nations, where the compensation for registering their identities holds substantial value as supplementary income.
The enthusiasm isn’t limited to Worldcoin alone. The broader AI token market is experiencing a surge, with prominent projects like The Graph, Ocean, and Render Protocol witnessing over 50% growth in the past week.
Fetch AI has surged by 75%, the long-neglected Golem has seen a 68% increase, and SingularityNET has recorded a remarkable 120% uptick.
The AI fervor has also spilled over into the stock market, which was already buoyed by Nvidia’s recent announcement of record profits. Nvidia’s stock (NASDAQ:NVDA) has climbed by 16% since the announcement, marking a nearly 30% rise in February, reaching an all-time high of $785.
Image: Tradingview
Other tech giants, such as AMD and Microsoft, have also witnessed significant upturns, with AMD (NASDAQ:AMD) observing an 11% spike today and Microsoft (NASDAQ:MSFT) enjoying a 3% increase. Meta, formerly known as Facebook, has also surged by almost 4% today, contributing to its 25% growth over the month. These stocks are hovering close to their peak prices.
The resurgence of interest in AI has played a pivotal role in the recovery of the S&P 500 since the previous year, with technology firms dominating discussions among analysts. A surge in searches related to AI on Google Trends further underscores the widespread intrigue surrounding AI and its potential impact on the cryptocurrency market and the broader financial domain.
Edited by Ryan Ozawa.
