Sam Altman’s WLD token falls 10% following Worldcoin rebrand

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Key Takeaways

Worldcoin rebrands to ‘World’, token falls by 10%.
New World ID 3.0 introduced with advanced privacy features.

Worldcoin, co-founded by Sam Altman, has officially rebranded its network to World in an ambitious move unveiled during a major event held in San Francisco earlier today.

Altman and co-founder Alex Blania outlined the company’s future vision, including significant technological updates and the expansion of their controversial iris-scanning orbs, designed to verify human identity.

However, Worldcoin’s token saw a sharp decline, dropping nearly 10% following the event.

The company announced the deployment of more orbs globally, powered by improved NVIDIA Jetson chips, which will make them faster and more efficient.

New plans include placing orbs in everyday locations, such as kiosks, coffee shops, and even offering home delivery for iris scans.

World launched new privacy features under World ID 3.0, including tools like Deep Faces to combat online fraud and deepfakes.

They introduced a new Super App that integrates with users’ digital wallets, and announced that their blockchain, World Chain, has launched on mainnet.

World’s vision to populate the globe with its verification orbs and accelerate adoption of the World ID system may signal its commitment to expanding the project’s reach, but the recent token drop suggests a more cautious response from the market.