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The Worldcoin project has grown in the past year to more than 6.3 million registered users through its World ID program.
Worldcoin (WLD), a project aimed at building a global human identity and financial network, has announced the expansion of its operations in Austria. According to the announcement, the Worldcoin Foundation has introduced the World ID orb verifications in Austria to increase its database in the European market.
As a result, anyone older than 18 years can access the World ID orbs in Vienna beginning today, Wednesday, July 31. Meanwhile, the Worldcoin Foundation has called on interested people in Austria to join its ambassador program, which plays a crucial role in the World ID registration process.
“Austria joins neighboring Germany in offering important proof of humanness technology in Europe, amid continued interest and growth in other countries around the world,” the Worldcoin Foundation noted.
Growing Worldcoin Community
The Worldcoin project, backed by OpenAI CEO Sam Altman, has attracted both positive and negative reviews in the past year of existence. According to the official Worldcoin website, the World ID network has amassed more than 6.3 million users from more than 39 countries.
As of this writing, more than 164 million WLD tokens have been claimed by registered users. In the past seven days, the World ID registered nearly 260K new accounts through the 3,336 orbs circulating.
However, the Worldcoin project has faced immense headwinds in different countries where it is accused of misusing data collection and privacy rights. In its defense, the Worldcoin team has reiterated that the users own their data, and storage is enhanced through cryptographic technology.
The majority of Worldcoin users unanimously agree that World ID verification is vital to distinguish between humans and bots amid the rising popularity of artificial intelligence (AI).
For instance, a 2024 survey in Spain on the 21K World ID holders concluded that over 80 percent of the respondents believe in the long-term benefits of the Worldcoin project.
Proof of humanness enables more trust & better interactions online in the age of AI. pic.twitter.com/A9PfmkqO0Y
— Worldcoin (@worldcoin) June 20, 2024
Impact on WLD Price Action
The WLD token is a major backbone for the Worldcoin project, as it helps incentivize new users and also runs the financial aspects. The small-cap altcoin, with a market capitalization of about $678 million and a daily average traded volume of around $146 million, has heavily been criticized for its high fully diluted valuation of over $22 billion and insider trading.
Amid the heightened crypto volatility, WLD price has dropped more than 26 percent in the past two weeks to trade around $2.21 on Wednesday.
However, the launch of the World ID program in Austria among other nations has helped stabilize WLD price.
From a technical standpoint, WLD price must consistently close above $2.79 in the coming weeks to invalidate further market correction. Furthermore, WLD price has been forming lower lows and lower highs, an established characteristic of a falling trend, since mid-March to date.
