Nikolas Sargeant
Worldcoin's WLD token has experienced a dramatic surge, jumping over 80% since Sunday evening following the announcement of a major treasury initiative by Nasdaq-listed Eightco Holdings. The token was trading at $1.87 as of Tuesday morning, marking a significant rally for Sam Altman's controversial digital identity project that aims to distinguish humans from AI through biometric verification.
The price surge was triggered by Eightco Holdings' announcement of a $250 million private placement offering designed to fund what the company describes as the first treasury strategy focused specifically on Worldcoin. The initiative represents a significant institutional backing for the project, which has faced regulatory scrutiny and debate since its launch in 2023. Wall Street veteran Dan Ives, a prominent tech analyst from Wedbush Securities, is joining Eightco as chairman to lead this ambitious strategy.
Worldcoin, co-created by OpenAI CEO Sam Altman, operates as a digital identity verification system that uses biometric data to create unique human profiles in an AI-dominated future. The project has attracted both significant investment and controversy, with backing from major venture capital firms including Andreessen Horowitz and Khosla Ventures. Despite the recent surge, the token remains well below its all-time high of over $11 reached in March 2024.
The treasury announcement has brought renewed attention to Worldcoin's mission of creating a "real human network" that can provide anonymous proof of humanity online. With a current market cap of approximately $1 billion, the project continues to expand its global presence while navigating regulatory challenges in various jurisdictions. The institutional backing from Eightco Holdings signals growing Wall Street interest in the intersection of AI verification technology and cryptocurrency markets.
Regulatory Headwinds Continue Despite Market Rally
While investors celebrate the recent price surge, Worldcoin's operational landscape remains complex due to ongoing regulatory scrutiny worldwide. Brazil's National Data Protection Authority recently ordered Tools for Humanity to cease offering crypto incentives for biometric data collection, highlighting persistent concerns about the project's data practices. The company has also faced similar regulatory challenges in Europe, where authorities have questioned the "proof of personhood" initiative's compliance with data protection laws.
In response to these pressures, Worldcoin has introduced enhanced privacy measures, including an "unverification" option that allows users to permanently delete their iris codes from the system. The project has also evolved beyond its original iris-scanning focus, rebranding as "World Network" and expanding its technological infrastructure with partnerships including API3's Oracle Stack integration. These developments suggest the project is adapting to regulatory feedback while maintaining its core mission of human verification in an AI-dominated digital landscape.
