What is Worldcoin? A Beginner’s Guide to WLD Tokens

Worldcoin is a cryptocurrency project co-founded by Sam Altman, one of the leading figures in the artificial intelligence (AI) industry. The project was created to provide an online system to distinguish humans from AI.

Since its launch in 2019, Worldcoin has grown to rank among the top 100 largest cryptocurrency projects by market capitalization. Worldcoin has also renamed itself to just “World” in a bid to expand beyond cryptocurrencies into a digital identity network.

If you’re curious about its core ideas, features, and WLD tokenomics, this Worldcoin review article serves as a one-stop guide, covering everything you need to know about this futuristic crypto project.

Worldcoin Review: Summary

Worldcoin is an initiative founded by Sam Altman, Max Novendstern, and Alex Blania in 2019. It combines cryptography, biometrics and blockchain technology to create a digital identity network. The main goal of Worldcoin is to develop a digital identity system to authenticate humans online amid an expected surge in AI bot usage. The project does so with a unique mechanism called proof of human.

What is Worldcoin Crypto?

Price Volume in 24h Price 7d is a digital identity verification system that uses iris biometric data to authenticate humans online. The project originally started as “Worldcoin” but has now been renamed into “World Network” or “World.” Due to its cryptocurrency-based origins, the project is still referred to as “Worldcoin” by many.

The Worldcoin project consists of various technological parts. They are:

• World ID: World ID is a cryptographic proof that verifies your humaness. World ID uses zero-knowledge technology to allow its users to anonymously verify that you are a real and unique human.
• Orb: Orb is an optical biometric device used by Worldcoin to scan and capture human iris data. The device is developed by San Francisco- and Berlin-based organization called Tools for Humanity.
• World Chain Mainnet: The World Chain Mainnet is an Optimism stack layer two (L2) blockchain built on top of the Ethereum (ETH) L1. All account balances and transactions involving the WLD token will be accounted for on the World Chain Mainnet.
• WLD token: The Worldcoin token, also known as the WLD token, is a digital currency issued to humans who have been onboarded to the Worldcoin Network. Worldcoin aims to provide universal basic income (UBI) by distributing the WLD cryptocurrency to every human on Earth.
• World App: World App is a frontend application that provides Worldcoin users with access to a platform where they can interact with decentralized mini-apps and use their cryptocurrency tokens by supporting crypto wallets.

Aim of Worldcoin

The internet we know today is changing. Advancements in generative AI technology is making it harder to distinguish content created by AI and humans. AI bots are taking over social media platforms such as X (formerly Twitter) where they are being used to farm “likes” and “comments.” This problem is only going to get worse as AI technology continues to advance at faster-than-expected speed as showcased by the sudden emergence of Chinese large language model (LLM) DeepSeek in January 2025.

With this issue in mind, Worldcoin wants to create a solution to distinguish humans from AI. The project uses a mechanism known as “proof of human” or “proof of personhood” to establish that an individual is human and different from another real person.

According to Worldcoin, proof of personhood is a missing and necessary digital primitive that is becoming more important as powerful AI models become available.

“In a time of increasingly powerful AI, the most reliable way to issue a global proof of human is through custom biometric hardware,” says Worldcoin in its whitepaper.

The WLD Token

WLD token is an ERC-20 token that is currently available on the Ethereum mainnet and the Optimism (OP) Mainnet L2. WLD tokens are distributed to individuals who have completed iris scans to prove that they are a real person on the Worldcoin Network. The WLD token was launched on July 24, 2023.

According to Worldcoin, free WLD coins are only claimable via the World App. No airdrop of WLD tokens will be conducted outside the World App and no initial coin offering (ICO) for the cryptocurrency was conducted. Worldcoin added that residents and companies based in the United States are not eligible to claim WLD tokens due to regulatory restrictions.

The initial supply of WLD was capped at 10 billion tokens. The token has a default inflation rate of 0%. However, after a period of 15 years from launch, the WLD inflation can be increased to a maximum of 1.5% per year, subject to protocol governance.

Here is how the Worldcoin token is distributed:

Worldcoin History

Worldcoin’s history is remarkable, especially considering that no one expected Sam Altman to introduce such a unique and innovative blockchain idea—all while he was deeply involved in developing OpenAI’s ChatGPT.

• 2019: Worldcoin is co-founded by Sam Altman, Alex Blania, and Max Novendstern.
• 2021: Worldcoin is launched publicly. The project reveals plans for biometric proof of personhood using a device called Orb. The project raises over $100 million in funding.
• 2022: MIT Technology Review reports Worldcoin targeted lower-income communities and students to onboard its initial half-a-million users. Worldcoin rasied $100 million at a $3 billion valuation from prominent investors including Andreessen Horowitz (a16z).
• 2023: WLD token launches on Ethereum and becomes freely tradable on crypto exchanges.
• 2024: Worldcoin rebrands as World Network. The project launches its L2 blockchain using the OP stack. World App records over 20 million downloads.

Worldcoin Founders

All the three founders – Sam Altman, Alex Blania, and Max Novendstern share an entrepreneurial mindset, a vision for global impact, and strong technical expertise in AI, blockchain, and economics.

Sam Altman: Sam Altman is a tech entrepreneur best known as the co-founder and CEO of OpenAI. Altman was was born on April 22, 1985 in Chicago, USA. In 2005, Altman joined Stanford University to study computer science. He dropped out of university after two years. In 2015, Altman co-founded OpenAI with notable figures in the tech industry such as Elon Musk, Jessica Livingston, and Peter Thiel.

Max Novendstern: Max Novendstern is the co-founder of Worldcoin. Novendstern is a graduate of Harvard University where he earned Bachelor’s degree in philosophy in 2014. After grdauting, he worked as a investment associate in Bridgewater Associates for two years. After co-founding Worldcoin, he served as the company’s CEO between 2019 to 2021. According to TechCrunch, Novendstern has left Worldcoin and is working on a new venture.

Alex Blania: Alex Blania is the CEO and co-founder of Tools For Humanity – the core contributing developer team of Worldcoin. Blania is a graduate of FAU Erlangen-Nürnberg where he graduated with a Bachelor of Science degree.

How Worldcoin Gained 500,000 Test Users?

Worldcoin has faced criticism and backlash for using “deceptive marketing practices” in collecting personal data from new users. According to an expose by the MIT Technology Review, the company recruited its first half a million new users by targeting individuals from low-income communities in Indonesia. According to the report, volunteers in Indonesia were not aware of the “real intentions” behind the biometric data collection and were primarily there as Worldcoin representatives were offering free cash, airpods and more.

The April 2022 report by the MIT Technology Review also revealed that Worldcoin team collected more personal data than it acknowledged and failed to obtain “meaningful informed consent” from volunteers. According to the MIT Technology Review, Worldcoin’s personal information collection practices may have violated European Union’s General Data Protection Regulations (GDPR) and local laws. These accusations bring forth concerns of how Worldcoin will protect personal data as it expands on a global scale.

How Does Worldcoin Work?

Let’s talk about the various parts of Worldcoin’s ecosystem to understand how it works.

The World App

The World App is a mobile application that functions as a frontend to Worldcoin’s ecosystem. It guides new users through verification with the orb, custodies an individual’s World ID credentials and implements cryptographic proofs to share individual ID. The World App can be downloaded from app stores on mobile devices. It can also be used to claim Worldcoin tokens, store digital assets and access mini apps.

The Orb

The Orb is an optical biometric device. The Tools For Humanity organization is responsible for the development of the Orb. The Orb captures and processes iris scan photos to verify uniqueness of a human body. According to Worldcoin’s website, the Orb does not retain images. It captures photos of face and eyes, encrypts them and stores them on the user’s phone. Users can choose to delete their data at any point. Anyone can become an orb operator by filling an application form on Worldcoin’s official website, passing an interview process and completing training.

The Worldcoin Enrolment Process

Here is how to enroll for Worldcoin:

• Download the World App
• Locate the nearest local orb operator via the World App
• Complete the QR code scan and verification process at an Orb.
• Receive a unique World ID.

The Iris Codes

An iris code is a unique numeric identifier of an individual’s iris texture. It is generated when a human iris is scanned using the Orb device. Iris codes are signed by a secure element to ensure that all iris codes originate from a legitimately provisioned Orb.

Iris codes should not be mistaken for iris images. While iris images are raw photographs of a human iris, iris codes are unique numeric identifiers derived from those images. According to Worldcoin’s white paper, iris codes preserve privacy as it is extremely difficult to reverse-engineer the original iris image from the iris code.

Worldcoin Network: Verification Process

World ID verification location are available worldwide and are managed by official operators. You can find such locations on the Worldcoin website and in the World App. Here is the process to verify your World ID according to an official blog post:

• At the verification location, you will be informed of your data custody options.
• Once you give consent, you scan your QR code on your phone to begin the verification process.
• Look at the Orb for a few seconds as the device captures your iris data.
• You will receive a verified World ID on your phone.

The Zero-Knowledge Proof

Worldcoin uses zero-knowledge (ZK) proof to prevent third parties that use World ID to verify your humaness from learning your World ID public keys or tracking your World ID across applications. For context, ZK proofs is a cryptographic technique that allows a party to verify the correctness of data without revealing the underlying information. Imagine proving that you are above the age of 18 without revealing personal information such as your date of birth.

How Worldcoin is Different from Ethereum?

Ethereum and Worldcoin are completely different from each other. For starters, Ethereum is a layer one (L1) blockchain that supports smart contracts which allows developers to build decentralized applications on top of it. Ethereum is essentially a decentralized, permissionless and global app store where anyone can build applications that anyone can use. On the other hand, Worldcoin is a cryptocurrency project that uses iris biometric data to authenticate humans online.

The similarities between the two can be traced to their use of blockchain technology. Both Ethereum and Worldcoin use blockchain to account crypto token balances of its users and to track and verify crypto transactions.

What’s Driving People to Join Worldcoin?

Token incentives is the main draw for users to join Worldcoin. The amount of WLD tokens that users can claim after completing iris scans depends on the type of verification completed. According to Worldcoin, verifying your iris at an Orb allows users to claim the highest amount of WLD.

Users can also complete passport verification using NFC-enabled passports to claim WLD tokens. Worldcoin said completing both Orb and Passport Verification will make users eligible to claim the maximum amount of WLD tokens available.

Like every blockchain-based projects, Worldcoin too has its pros and cons.

Advantages of Worldcoin:

• Universal Basic Income (UBI): Worldcoin aims to distribute free crypto tokens to everyone.
• Proof of Personhood: Worldcoin uses iris scans to authenticate humans from AI.
• Financial Inclusion: The project aims to onboard unbanked people into the crypto economy.
• AI Synergy: Worldcoin’s biometric verification could become a crucial identification tools as social networks get swarmed by AI bots.
• ZK proofs: Worldcoin uses ZK proofs to protect personal data from being misused by third-parties

Disadvantages of Worldcoin:

• Privacy Concerns: Biometric data could be misused or leaked.
• Centralization Risks: Worldcoin relies on proprietary hardware called Orb which are developed by the Tools for Humanity organization.
• Adoption Challenges: Worldcoin face adoption challenges on a large scale as a number of users are skeptical about scanning their irises and giving away personal data.
• Economic Sustainability: Worldcoin’s success is uncertain. WLD token is susceptible to market forces such as volatility, demand and supply.
• Regulatory Uncertainty: Worldcoin is not available to U.S. residents on regulatory concerns. Countries like Spain and Kenya have banned Worldcoin from collecting personal data.

Top Worldcoin Wallets

Here are the top crypto wallets that support the Worldcoin token, which is available for purchase on both centralized and decentralized exchanges.

Best Wallet

Best Wallet is a user-friendly, non-custodial, multichain wallet designed for both iOS and Android. It has a rapidly growing community, having garnered hundreds of thousands of downloads across the Google Play and iOS App stores.

Best Wallet consistently ranks among the top decentralized exchange (DEX) wallets, thanks to its seamless experience and robust security. It supports over 60 blockchains including Ethereum and OP Mainnet – both blockhcains that host the WLD token. The wallet is easy to use for trading, portfolio management, and for self-custodial storage of crypto tokens. Whether you’re a seasoned trader or just getting started, Best Wallet offers the flexibility and security you need in the fast-evolving world of DeFi.

To know more about this wallet, check out our comprehensive Best Wallet review.

Exodus

Exodus is a crypto wallet recommended for beginner crypto users. The wallet is known for its easy-to-use functionality, simple design and online support. Exodus is available as a desktop wallet and as a mobile application. The main downsides of the Exodus crypto wallets are lack of custom fees and its non open-source nature.

Exodus supports 115 crypto assets including popular tokens such as Bitcoin, Ethereum, Ripple and Litecoin. For more information, take a look at our detailed Exodus review.

Zengo

Zengo is the world’s first keyless wallet. Such wallets are known for their user-friendly experience as they remove the need to secure and manage seed phrases, which can be a tedious task. To register to your Zengo wallet, all you need is an email address and fingerprint lock or Face ID. If you are someone who values a frictionless crypto wallet setup, Zengo wallet may be a good match for you.

Zengo has limited crypto asset support. Popular token such as XRP, Solana, Avalanche, Litecoin, and Bitcoin Cash are unavailable on Zengo. WLD tokens is supported on Zengo as the wallet has support for the Ethereum network. Get to know more about this wallet in our separate Zengo review.

Why is Worldcoin Facing Criticism?

Worldcoin’s ambition to create a database of human irises has courted controversy on grounds of privacy breach, deceptive marketing and data leak concerns. Some regions such as Spain has even banned Worldcoin and ordered the company to cease the collection of personal information.

Here is a list of controversies surrounding Worldcoin:

• Spain Bans Worldcoin: In March 2024, Spanish data protection regulator AEPD demanded Worldcoin to stop its collection of personal data on privacy risk concerns. AEPD accused Worldcoin of “circumventing EU law” and “spreading inaccurate and misleading claims about the technology”.
• United Kingdom Regulator Examines Worldcoin: UK’s data regulator Information Commissions Office (ICO) said that it will examine Worldcoin on needs to have a “clear lawful basis” to process personal data.
• Germany Investigates Worldcoin: Germany-based data regulator started an investigation on Worldcoin in November 2022 on concerns that Worldcoin aims to process “sensitive data at a very large scale”, Reuters reported.
• Kenya Bans Worldcoin: In August 2023, Kenya banned Wordlcoin from signing up new users on data privacy concerns.
• MIT Technology Review Cites Deceptive Marketing Practices: MIT Technology Review reported that Worldcoin targeted individuals from low-income communities and used deceptive marketing tactics to recruit users in Indonesia, Kenya, Sudan, Ghana, Chile, and Norway.

Is Worldcoin’s WLD a Good Investment?

Since the WLD token debuted in July 2023, the cryptocurrency has given only an average return. The token saw significant increase in its price between the last quarter of 2023 and the first quarter of 2024. During the period, WLD token hit an all-time high of $11.82 on 10 March 2024.

Over the past one year, WLD token has not increased much in value. WLD token was about 85% below its all-time high price, as of late-January 2025.

Worldcoin has achieved a higher valuation than prominent cryptocurrency projects like the liquid staking platform Lido, gaming-focused L1 Ronin, and AI agent platform Virtuals.

How to Buy Worldcoin?

At this point, if you are thinking of buying some WLD tokens to add to your portfolio or to gain exposure to capitalize on market volatility, here are some centralized exchanges where you can trade fiat currencies or other crypto tokens for WLD tokens:

• Margex: Margex is a crypto derivative platform that offers 36 perpetual futures markets including Bitcoin, Solana, Bitcoin Cash, XRP, Ethereum, Cardano, and SushiSwap. However, you cannot use Margex for spot trading, meaning you can’t directly own coins or tokens.
• MEXC: MEXC is a popular exchange used by millions for its low fees and diverse trading options. MEXC offers a user-friendly platform, 0% fees on spot trading and a rich selection of crypto assets.
• OKX: OKX is a crypto exchange that also offers advanced trading features, low fees and seamless integration with the OKX Wallet. The exchange is available in over 100 countries and can be used for both spot and derivative markets.

To know the step-by-step process of buying Worldcoin, check out – How to buy Worldcoin (WLD): Steps & Exchanges

Does Crypto Community Like Worldcoin

Cypto investment firm a16z mentioned Worldcoin in its “7 Big Ideas for 2025 (and more trends to watch)” emailed newsletter saying:

Meanwhile research firm Alea Research said:

Revelo Intel added:

Conclusion: What is Worldcoin?

Worldcoin has created a name for itself in the crypto world by placing itself as the one of the only solutions addressing the need to authenticate humans from AI online. While its global wealth redistribution ambitions are commendable, data privacy concerns related to Worldcoin’s iris scans have curbed its adoption. So far, the network has onboarded over 20 million participants worldwide. For these numbers to grow, the project must gain public trust by decentralizing its operations and increasing transparency in its data collection and storage processes.

Frequently Asked Questions

What is Worldcoin?

Worldcoin is a cryptocurency project and a digital identity verification system that uses iris biometric data to authenticate humans online.

Who created Worldcoin?

Worldcoin was co-founded by Sam Altman, Alex Blania, and Max Novendstern.

What is the main purpose of Worldcoin?

Worldcoin’s main purpose is to use iris biometric data to authenticate humans from AI online.

How can I get WLD tokens?

You can get WLD tokens by completing iris scans on Worldcoin’s orb systems. You can also buy WLD from crypto exchanges.

Where can I use WLD tokens?

You can use WLD tokens on the World App.

What’s the best exchange to buy WLD tokens?

You can buy WLD tokens on centralized exchanges such as OKX and MEXC.

Why Worldcoin is facing criticism?

Worldcoin is facing criticism on data privacy concerns. The project also faced criticism on accusation of using deceptive marketing tactics to recruit users.

How high will Worldcoin go in 2025?

The future price of WLD token is unpredictable. However, the WLD token hit an all-time high of over $11 in March 2023.

What is Orbs in Worldcoin?

Orbs are optical biometric devices used to scan human irises by Worldcoin.

How does Worldcoin’s biometric verification work?

Worldcoin uses optical biometric devices to verify humanness of an individual.

Is Worldcoin’s iris scanning technology safe?

Worldcoin’s iris scanning technology has faced heavy criticism on data privacy concerns. Some say it’s safe, while most of the experts disagree.

How to participate in Worldcoin’s distribution?

You can participate in WLD distribution by scanning your iris in official Worldcoin orb stations.

References

• World.org “What is World, and how does it work?” World.org, https://world.org/blog/worldcoin/what-is-worldcoin-how-does-it-work
• Time Magazine. “What to Know About Worldcoin and the Controversy Around It,” Time Magazine https://time.com/6300522/worldcoin-sam-altman/
• World.org. “Understanding the Orb and why Worldcoin uses biometrics,” World.org https://world.org/blog/worldcoin/understanding-orb-why-worldcoin-uses-biometrics