Guy Turner, the host of Coin Bureau, one of the leading cryptocurrency channels on YouTube, and a crypto analyst, has issued a warning that the altcoin project Worldcoin (WLD), which is at the center of debates, could collapse within a year.
Analyst Worries About the Future of the Project
Crypto analyst Guy Turner expressed his concerns in his latest video about the artificial intelligence-based altcoin that uses iris scanning technology, stating that it will not be able to fulfill its promises and warned investors.
The analyst said, “The altcoin project that is at the center of debates has scanned more than two million eyes worldwide so far to develop what it claims to be a decentralized digital identity in exchange for cryptocurrency. Naturally, there are multiple concerns and different opinions about Worldcoin, and there is speculation about whether the project’s local presence will be the next big thing or just another venture capital scam.”
Today’s Investors Could Collapse the Project
Turner added that if the Worldcoin project, which includes Sam Altman, the founder and CEO of OpenAI, the viral AI chatbot, fails to deliver the promised benefits of the local asset WLD token within a year, the hype surrounding the project will fade, and its price could collapse.
The host of Coin Bureau stated that despite the project’s whitepaper stating that the user community will determine the benefits provided by the token, the Worldcoin community currently has no way of doing so, saying:
The combination of the decrease in hype surrounding the project due to the disappearance of demand factors and the small amount of new supply from World ID users and the Worldcoin Foundation may be enough to put pressure on the price. If the project fails to provide a satisfactory service within a year, the sales made by other WLD investors could result in the collapse of the project.
According to CoinMarketCap data, WLD token is currently trading at $2.29, with a decrease of 0.34% in the last 24 hours. Shortly after its launch, the altcoin reached a record high of $3.58 on July 24, which is 35.98% below its current price.
