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Over the past few years, what sounds like an episode of Black Mirror has been unfolding in real life: millions of people around the world have agreed to let metallic orbs scan their eyes in exchange for receiving blockchain-based ID and a cryptocurrency called Worldcoin.
Beginning this week, Worldcoin (WLD) will be available in most of the US for the first time, including via exchanges like Coinbase. Those who scan their eyes at a World orb will receive 16 WLD. The Sam Altman co-founded startup behind the project, Tools for Humanity, is also working with Visa to release a debit card later this year that converts WLD to fiat currency at checkout. Altman, who is currently the chairman of Tools for Humanity, announced the news alongside CEO Alex Blania at a press event in San Francisco on Wednesday, dubbed “At Last.”
World’s orbs will be available for iris scans at physical “World Space” locations in Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco, as well as in Razer gaming stores. Tools for Humanity updated the orb’s physical design last year, and now it’s releasing a smaller “orb mini” that’s designed to be more portable.
Since it was founded by Altman, Blania, and Max Novendstern in 2019, the startup’s stated mission has been to make World ID the primary method for verifying humans online. The implicit goal is to address the societal ramifications of OpenAI, Altman’s other company. As AI becomes more advanced, the idea is that a system like World ID will become necessary for distinguishing between what is generated and what is not. In Altman’s vision of the future, Worldcoin could also serve as a form of universal basic income for individuals whose jobs have been replaced by AI.
Aside from its coming debit card with Visa, the main way to use Worldcoin is via the World wallet app, which lets people send WLD and other cryptocurrencies to each other through a private chat service that’s tied to World IDs. The World mobile app also offers over 150 mini-apps, including a new one from the prediction market Kalshi.
While previous SEC Chair Gary Gensler took a hard-line, litigious approach to crypto, the Trump administration has significantly dialed back scrutiny of the space. That political shift gave Tools of Humanity the confidence to launch Worldcoin in the US now, although the token is still not available in New York state.
Despite facing strong pushback from other governments over concerns about its use of biometric data, Worldcoin has still managed to become one of the largest crypto projects in the world. The startup says its orbs have so far verified 12 million humans from over 100 countries on its Ethereum-based World Chain. The price of WLD, meanwhile, has fluctuated wildly. It was trading below its 2023 debut price ahead of Wednesday’s event.
This story is developing…
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