Possible gem or just a fad

Worldcoin (WLD) has been the darling of the moment in the cryptocurrency market. With an increase of approximately 130% and a recent peak of US$ 4.68, Worldcoin’s native token has also caught the attention of this sardine who writes to you.

However, this rise was followed by a decline of about 20%, indicating a moment of profit-taking followed by a slight retracement, despite this adjustment phase, some say that there is a strong rise ahead!

For those who are not up to date on the subject, I will recap a bit here:
Worldcoin began gaining strength in the market from November, reaching its peak on December 18, hitting US$ 4.68 during a broader market recovery phase, and now on the date of this post, it hit almost 8$ with an appreciation of almost 100%.

Worldcoin has made efforts to attract new users, including setting up pop-up kiosks in India, which attracted crowds in search of free tokens. The project has also received support from heavyweight investors such as Andreessen Horowitz, Khosla Ventures, and Reid Hoffman, initially raising a small mountain of money worth US$ 25 million in October 2021 and reaching a market value of US$ 3 billion after raising an additional US$ 100 million in less than a year, so my friends, although it is a very ambitious project (read: expensive!!) apparently they are well capitalized.

However, not to highlight only the good sides of the project, we have a small stain in the development of one of its iris biometric encryption projects, developed by Tools for Humanity and backed by Worldcoin, has sparked controversy for being a Proof of Personality (PoP) mechanism to verify an individual’s uniqueness, experts, including Bob Bodily, (CEO of Toniq Labs), have highlighted significant flaws in the verification model, especially in terms of centralization and restricted accessibility for validation through Worldcoin’s official hardware, which doesn’t seem cool for anyone, right?

But leaving this nerdy development talk and going to speculation, we have a full plate for those who want to invest in an AI-based asset, I frankly am not very fond of this narrative because I haven’t studied anything seriously about it yet, but in the middle of a bull market, I think it’s worth looking at some cases.

In summary, Worldcoin has been a roller coaster of emotions for investors, with its native token, WLD, experiencing significant fluctuations. Despite this, the project has made efforts to attract new users and has received support from heavyweight investors. However, the iris biometric encryption project, while innovative, faces significant criticism from experts.

Finally, I leave here the link to the official project website where you can delve deeper and get more information about the project’s development and the token. I look forward to second opinions and counterpoints here : https://worldcoin.org/

It is important to note that this text is not an investment recommendation. Volatile assets like cryptocurrencies require study and caution.

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So, what does it do exactly, and how does it do it?