Sam Altman's Worldcoin has Dropped to Half of it Initial Worth

Those who scanned their Iris recently received 25 WLD tokens. After just one month, the crypto assets are now worthing half of their initial value. According to market analysis by CoinGecko, WLD token's price has dropped from $2.50 at the beginning of August to about $1.31 as of Aug. 25.

Definitely, that's about 44% dropped in value in the past 28 days, and if it continues with this gradual descending, it's certain that WLD’s price will fall to single digit in another month’s time.

How it works

Worldcoin provided an Orb - a big steel ball which is used to scan human Iris. This practice is classified as know-your-customer (KYC) verification. According to the company, scanning human's iris will proof that the person behind the account is indeed human and not a robot of sorts of AI language model.

After the completion of biometrics verification, all data collected will be combined into the World app, which is envisioned to be a universal wallet for your WLD and a way to make payments.

Through this process, Worldcoin has registered more than 2 million people into it database by July 13, the company claimed.

During its inception, the company awarded more than 43 WLD tokens to its growing user base. Worldcoin co-founder and AI figurehead Sam Altman promoted the crypto project around the world” for people to get their iris scanned just three days into launch.

Although, the hype hasn’t lasted long before it start crashing. Those who got their iris scanned in the beginning received 25 WLD, which worth around $60 then. However, that same amount of Worldcoin tokens is now worth just a little over $30. 

Many others who bought in early could have much more in their crypto accounts, which if they held onto it until now would be worth half their initial investment. The only people happy are the short sellers who bet on Worldcoin dropping early.