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As the price of Bitcoin continues to increase, altcoin teams are looking for ways to positively diverge during this process. The most important thing they can do at this point is to make announcements. Partnerships, grant programs, new products, network improvements, and much more can push the price of altcoins up in the current period. The WLD Coin team has done just that.
Why is WLD Coin Increasing?
Worldcoin Foundation, the organization behind the Worldcoin protocol, announced today a $5 million community grant program. The venture, founded by OpenAI CEO Sam Altman, tells developers to create applications on Worldcoin. Applications connected to identity verification and much more can be developed on the protocol within the Ethereum network.
Developers who want to benefit from three different grant programs must launch ventures focused on products that utilize Worldcoin and World ID, and the intersection of privacy and biometrics. In particular, the Worldcoin project, which has been criticized for personal data security, has attracted the attention of regulators in many parts of the world. Tough legal processes may be seen in Europe and other countries.
The team, wanting to protect against regulatory risk, is striving to make the project fully decentralized. Tools for Humanity’s co-founder and CEO Alex Blania had stated;
“In five years, neither Sam nor I will have any importance regarding what happens to Worldcoin. This is a process, and we think this way.”
WLD Coin’s price rose above $2.5 following the news.
