DeutschWorldcoin (WLD) has been public since July 24, 2023, and has been making waves ever since. But what exactly is Worldcoin? In October 2024, the project was renamed “World Network” and has since evolved from a pure crypto token into a comprehensive ecosystem of digital identity, its own blockchain, and a financial app. In this article, we explain how World Network works, who is behind it, and why the project is so controversial.
What is Worldcoin (World Network)?
World Network (formerly Worldcoin) is a crypto project that aims to provide an effective way to distinguish between bots and real people on the internet. In an era where AI-generated content and bots are becoming increasingly difficult to distinguish from real humans, World Network aims to create a global digital identity: the so-called World ID.
The project consists of four core components:
- World ID: An anonymous identity system that proves a person is a real human without revealing personal data.
- World App: A mobile app that functions as a wallet, identity manager, and access point to the World ecosystem.
- World Chain: A proprietary Layer-2 blockchain based on Ethereum and the OP Stack (Optimism), which went live in October 2024.
- WLD Token: The network’s native cryptocurrency, serving as a utility and governance token.
Who is behind World Network?
The crypto project was founded in 2019 by Sam Altman, Alex Blania, and Max Novendstern. Sam Altman is also the CEO of OpenAI, the company behind ChatGPT. It received $125 million in seed capital from various companies. Venture capital firm Andreessen Horowitz (a16z) is Worldcoin’s main backer.
Worldcoin itself is based in Berlin and is closely associated with the San Francisco-based company Tools For Humanity. Additionally, there is a non-profit organization called the World Foundation (formerly Worldcoin Foundation), registered in the Swiss canton of Zug. Zug is the most important location for crypto foundations globally.
How does World ID work?
At the heart of the project is the Orb, a spherical device that scans a person’s iris. A mathematical hash is generated from the scan, serving as a unique proof of identity. The project emphasizes that no images are stored and privacy is maintained.
Providing personal data or an identification document is not necessary to create a World ID. The iris scan solely serves to confirm a person’s uniqueness. In October 2024, a new generation of the Orb was introduced, which is five times more powerful thanks to Nvidia hardware. World Network also plans self-service kiosks for verification.
According to project data, as of April 2026, over 25 million users in more than 100 countries have registered, with approximately 12 million verified via Orb.
World Chain: The proprietary blockchain
Since October 2024, World Network has operated its own blockchain, World Chain. It is a Layer-2 solution based on Ethereum and the OP Stack (Optimism). The chain is supported by providers such as Uniswap, Etherscan, Safe, Dune, and Alchemy.
Verified users with a World ID benefit from lower gas fees on World Chain. Unverified users can also use the chain but pay higher fees. This model aims to keep bots off the blockchain and prioritize human activity.
WLD Token: Price and Tokenomics
The WLD Token is an ERC-20 token that exists on both Ethereum and World Chain. It serves as a utility token for transactions and as a governance instrument.
The key metrics:
- Price: approx. $0.24 (as of May 2026)
- All-time high: approx. $11.75 (March 2024)
- Decline from ATH: over 97%
- Maximum supply: 10 billion WLD
- In circulation: approx. 2.9 billion WLD (29%)
- Market capitalization: approx. $1 billion
A central problem: The token unlock rate. Currently, approximately 5.1 million new WLD tokens are released daily. This creates constant selling pressure. Starting July 24, 2026, the daily release rate is to be reduced by 43% to approximately 2.9 million WLD.
In March 2026, the World Foundation sold 226 million WLD for 63 million USDC via OTC deals. This corresponds to an average price of about $0.28 per token. At the same time, large wallets (whales) accumulated around 12 million WLD in April 2026, indicating institutional interest despite the low price level.
Why critics warn of a dystopia
World Network is one of the most controversial projects in the crypto space. The criticisms are significant:
- Biometric data: Despite assurances that no iris images are stored, the collection of biometric data remains a fundamental data protection issue. Several countries have banned or restricted the operation of Worldcoin Orbs, including Kenya, Spain, Thailand, and Portugal. The European General Data Protection Regulation (GDPR) imposes strict requirements on the processing of biometric data.
- Centralization: Although World Network propagates decentralization, the project is effectively controlled by Tools For Humanity and the World Foundation. The Orb devices are centrally produced and distributed. No World ID without Orb access.
- Token economy: 75% of all WLD tokens are intended for the community, but the daily release of millions of new tokens creates massive selling pressure. Critics like crypto investigator ZachXBT accuse the project of enabling insiders to profit from a “scam token.”
- Regulatory risks: Bans and investigations in several countries threaten growth. Every new regulatory measure can immediately impact the price.
AI and Worldcoin: Why the project is becoming more relevant
Despite all criticism, World Network has one development on its side: the rapid progress of artificial intelligence. The better AI becomes, the harder it will be to distinguish real humans from bots. This is precisely the problem World ID aims to solve.
This is particularly relevant for DeFi protocols. DeFi protocols could prevent automated actions by bots by only allowing verified World IDs. A proof-of-personhood system could also gain importance in social media, online voting, and digital government services.
Integrations with platforms like Tinder and Zoom show that the concept is attracting interest even outside the crypto world. Whether World ID establishes itself as a global standard depends on whether the project can overcome regulatory hurdles and gain user trust.
Those interested in projects that directly use AI on the blockchain can find an overview in our article on the best AI Coins.
Buy Worldcoin
WLD is available on regulated crypto exchanges like Bitvavo and Kraken. Note that WLD is highly speculative, being over 97% below its all-time high, and daily token unlocks create constant selling pressure. Only invest money you can afford to lose completely.
Conclusion: What you should know about Worldcoin
World Network operates at the intersection of AI, digital identity, and cryptocurrencies. The idea of creating a global proof-of-personhood standard is more relevant than ever given AI development. 25 million registered users, its own blockchain, and integrations with mainstream platforms show that the project is growing.
At the same time, the risks are significant. The WLD price is over 97% away from its all-time high. The daily token release creates massive selling pressure. Regulatory authorities worldwide are taking action against iris scans. And the fundamental question remains: Can a system based on the collection of biometric data ever gain the trust it needs to become a global standard?
Frequently Asked Questions about Worldcoin
- Why has the WLD price dropped so sharply?
The WLD price has fallen over 97% from its all-time high (approx. $11.75, March 2024) and is currently around $0.24 (May 2026). The main reasons are the daily release of millions of new tokens (unlock pressure), OTC sales by the World Foundation, regulatory bans in several countries, and general skepticism toward the project.
- How does the Worldcoin Orb work?
The Orb is a spherical device that scans a person’s iris and generates a unique mathematical hash from it. This hash serves as an anonymous proof of identity (World ID). According to the project, no images are stored. Personal data or identification documents are not required.
- Is Worldcoin legitimate?
World Network is backed by prominent investors like Andreessen Horowitz and has over 25 million registered users. At the same time, the project is controversial due to the collection of biometric data (iris scans). Several countries have restricted or banned its operations. The token economics are criticized due to massive daily unlocks. A blanket assessment as “legitimate” or “illegitimate” is therefore not possible.
