Worldcoin (WLD), the cryptocurrency at the heart of a global digital identity protocol, has seen an impressive 40% surge, reaching a new price of $4.40. This leap in value coincides with the release of Sora, a text-to-video AI tool by OpenAI, hinting at a speculative connection driven by Sam Altman’s involvement in both ventures.

The Altman Effect

As a key figure behind both OpenAI and Worldcoin, Sam Altman’s dual roles have sparked a wave of bullish sentiment among crypto traders. This sentiment is reflected in the remarkable 281% increase in Worldcoin’s trading volume within a mere 24-hour period.

A Tale of Two Innovations

While OpenAI continues to push the boundaries of artificial intelligence with the launch of Sora, its newest AI tool aimed at revolutionizing video creation, Worldcoin operates on a separate trajectory. Despite sharing a common visionary in Altman, there is no direct connection between Sora and the Worldcoin ecosystem, which currently boasts a market capitalization of $571 million.

Worldcoin’s ID Ambitions and Privacy Hurdles

Worldcoin’s aspirations to become the preeminent financial network and decentralized identification system have been met with both enthusiasm and scrutiny. The iris-scanning blockchain solution, which launched in July 2023, has faced regulatory pushback over data privacy concerns, leading to a suspension of enrollments in Kenya and investigations by privacy watchdogs in Hong Kong and France.

Global Expansion Amidst Challenges

Despite these challenges, Worldcoin is making strides in various regions, including South America and Asia. Over 1% of Chileans have registered with the protocol, and Singapore has welcomed the introduction of Orb hardware devices, furthering the company’s data collection efforts.

Operational Shift to WLD Payments

In a strategic move, Worldcoin transitioned from compensating global Orb operators with Circle’s USDC stablecoin to its native WLD token in October of the previous year, signaling a deeper commitment to its own cryptocurrency ecosystem.