Worldcoin Price Prediction – WLD Price Potential in 2024

Worldcoin (WLD) was listed on every significant crypto exchange on July 24, 2023, and quickly started trending thanks to its AI-driven appeal. Created by Sam Altman, the CEO of OpenAI, Worldcoin claims to be an asset that will help create a new identity and financial network everyone owns.

However, the Worldcoin token has been controversial, branded as a ‘VC coin’ by some analysts, and having a high market cap of over $20 billion at launch. This Worldcoin price prediction forecast analyzes the token’s fundamentals and market conditions to estimate how $WLD will hold up in the coming weeks.

What is Worldcoin?

According to the official whitepaper, Worldcoin is an Ethereum-based system on a mission to create a globally inclusive identity and financial network that most humanity would own.

The ecosystem system focuses on three elements. The privacy-preserving digital identity network, the World ID, “proof of personhood,” and the native crypto, is known as WLD.

The whitepaper specifies that every human can gain WLD by “simply being human.” The token and the World ID work on the World app, the front end of the World ID, and the Worldcoin protocol developed by a team known as “Tools of Humanity.”

Worldcoin defines “proof of personhood” as legitimate evidence that defines a person as human and unique. The project claims that once proof of personhood is established, people won’t need to prove they are human by revealing their real-world identity.

With the rise of powerful AI tools focusing on deep learning, separating AI-generated content from hand-crafted content is slowly becoming difficult. Proof of Personhood provides a robust barrier, allowing people to distinguish bots from humans.

Preserving that proof of personhood is where World ID would come in. Said to maintain privacy through “zero knowledge proofs”, World Id will be generated from a custom biometric device named Orb.

Agreeing to participate in the network and acquiring a World ID will reward users with a WLD token. The WLD token is an ERC-20 asset that would allow ID holders to interact with the different aspects of the World App, which, according to the official whitepaper, will find applications in finance, identity, and the “intersection between finance and identity.”

See our guide on how to buy Worldcoin.

Worldcoin Price Forecast – WLD Token Potential

Worldcoin’s arrival was not initially received very well by the community. The corrective path it took shortly after its pump and the fact that much of its features seem centralized have given many crypto experts a bearish outlook about this token.

Since many experts have likened Worldcoin to Aptos, another VC coin, we can look at Aptos’s performance to date to discern how Worldcoin could perform in 2024.

Aptos was launched in early October 2022 when crypto winter was in full swing, and mid-terms positively impacted the price of Bitcoin, pushing its price to $8.5.

However, the FTX revelations pushed the token’s value down by more than 90%, which started a sideways trend that ended in early 2023 when Bitcoin gathered more support. That pump pushed Aptos to its all-time high of $19.

Aptos then retook a consolidated route before experiencing another downturn that pushed its value to around $7 at press time.

Its price declined partly due to the lack of interest, heavy VC backing, and founders holding most tokens. With a total supply of 1.04 billion, only 217 million tokens are in circulation – which gives Aptos a centralized look – something that’s not appreciated by most in the crypto space.

Worldcoin’s tokenomics, as we will dive deep in the section below, follow the same path, with only 1.11% of the total supply currently circulating in the market. With VCs being the majority shareholders of this asset and the project being focused on a central “orb” that would have centralized control, Worldcoin will likely see the same dipping action as Aptos.

However, a change of trend, similar to the recent one could infact trigger a pump in the token, which could help it be a revolutionary project and gain momentum, exceeding the value of projects of similar nature that were launched much earlier.

Worldcoin Tokenomics

Worldcoin (WLD) is an ERC-20 token on the Ethereum Mainnet. However, most WLD-related transactions will be done on the Optimism network.

The token has a total supply of 10 billion and an annual inflation rate of up to 1.5%. Inflation will start in the next 15 years at the earliest.

Of these 10 billion tokens, only 143 million have been launched for circulation. According to the official whitepaper, this has been done to maintain long-term sustainability for this token. Governance will be used to decide how much of the newly minted tokens will be allocated to users. Also, the current inflation rate is set at 0% unless it is changed via governance.

Here is how 10 billion tokens are distributed.

1. 75% of the tokens are dedicated to the community. The project’s Articles of Association mandate that the ecosystem slowly adopts a decentralized governance mechanism.
2.  9.8% of the token is allocated to the development team – Tools for Humanity. The team currently operates the World App.
3. 13.5% of the tokens are for investors of Tools for Humanity, who provided funds to the team to develop a multi-year launch phase for the Worldcoin project.
4. 1.7% of the total supply will be kept in the Tokens for Humanity Reserve to address the future needs of the development team.

As stated, the token unlocks will follow a 15-year schedule. The goal is to unlock 0.5 billion or 500 million tokens at launch and slowly release up to 3 billion tokens by the end of year 3.  7.5 billion WLD tokens will be released to the community by year 15.

Is Worldcoin a Good Investment?

Worldcoin seems to be creating a new form of need due to the introduction of AI – distinguishing bots from humans.

The developers believe that AI will become strong enough to create content and other articles indistinguishable from humans, which will need most people a “proof of personhood” in World ID.

While this utility is novel and can possibly be needed over the next two years, people aren’t looking for it right now. However, it is evident now that the token has been gaining a massive community, which causes one to see the token in a different light. While many have stated that the project may be a Ponzi scheme, a lot beg to differ now, given the developments in the project and its potential.

At the same time, the token’s inflationary nature and the fact that only 1% of the total supply is circulating in the market affects its imminent growth. That means that VCs hold the most tokens right now, allowing them to control the narrative behind Worldcoin.

Due to these factors, we recommend you check out other alternative utility tokens with better upsides in the short term. We believe that while Worldcoin could see a price increase, one can also consider investing in other tokens for higher profits in a shorter timeframe.

Worldcoin Risks

Here are the risks associated with investing in Worldcoin:

VC Backed Cryptocurrency 

There was a time in the crypto era when people felt safe when they saw celebs promoting crypto and were introduced to assets that VCs backed. That meant the project was in reliable hands, which made investors feel secure.

However, all the faith in the centralized bodies has dwindled after the fall of FTX, BlockFi, and many other projects that had VCs backing them up. People no longer find the same level of interest in these tokens. And since many of these currencies have a large portion of the total supply with the development team, people are often apprehensive due to potential rug pulls.

Inflationary Crypto Asset

The token is banking on one utility – creating a World ID that gives you proof of personhood. They have let the token have inflationary traits, citing development reasons and the potential scale of the user base.

The presence of inflationary attributes removes scarcity for this token, and if the project’s demand doesn’t go up as developers envision, its value is bound to go down.

Centralization

The “Orb” technology purported to provide users with a World ID  – proof of personhood – has a centralized element. And in the post-FTX world, people are moving towards more decentralized solutions. Even Vitalik Buterin, the progenitor of Ethereum, has voiced his concerns about the token’s security, centralization, privacy, and security.

Orb Security 

The project devs have highlighted many of the risks and limitations. They say that while Orb has a high level of security, it isn’t infallible. The anti-fraud measures have to be continually refined. Otherwise, bad actors would spoof or compromise the tech, leading to the compromise of World IDs. Another issue is the probabilistic nature of biometrics. They have inherent error rates, which means even if it works correctly 99.999% of the time, they can show the other 0.001% false rejection flags.

Creation of Loopholes

Due to health conditions, eye-based biometrics had to be refined to become more inclusive – allowing people with blindness or cataract to engage with the system properly. However, Orb is stepping back from that since introducing such a system can create some loopholes.

These factors can potentially damage the value of Worldcoin.

Worldcoin Growth Drivers

While the current state of the Worldcoin price makes its risks more visible, some growth drivers could push its value:

Instant Recognition

While the token’s initial pump was quickly met with a retrace, we must recognize that the project by itself has significant names behind it. It is leveraging the brand power of Sam Altman and the AI fundamentals to move forward, which could push its value by next year.

Differing Humans from Bots

ChatGPT has opened Pandora’s box through its content generation mechanics that can’t be closed anymore. AI is here to stay. And the way machine learning has developed, days will come when it becomes difficult to distinguish an AI’s digital footprint from a human’s. If people recognize the need for this utility, Worldcoin may get a boost.

Alternative to Worldcoin

Worldcoin’s robust utility is undercut by its weak tokenomics, which gives it an air of centralization. While the project can surely be an excellent investment to consider, one can also look at alternatives that could perform excellently as well. Here is an example that one may want to consider looking into.

Smog

Smog is a unique meme coin that originated on the Solana blockchain in early February 2024. It rapidly gained attention thanks to an innovative airdrop rewards system that incentivizes buying and holding SMOG. Within just its first few days, SMOG achieved a market capitalization exceeding $60 million.

It is one of the top memecoins in the Solana ecosystem now, which is another project that has seen monumental growth. Naturally, Solana’s growth also caused memecoins built on its chain to blow up, among which SMOG is one, meaning that it too may be due for some serious profits. Upon the token’s launch, the community showed a massive level of excitement. This also caused the developers to look for more ways to cater to the demand, which is when they brought in the ETH bridge upgrade. Naturally, this also helped the project cater to a wider audience, all while creating hype due to its meme nature.

It also boasts an exciting staking element, meaning that investors will be able to make passive income all while simply staying invested in the project. Given its growing community and a barrage of future developments in plan, buying SMOG can be an excellent option right now, for the short term as well as for the long term depending on the risk appetite and profit requirements of the investor.

The Verdict

The arrival of Worldcoin did take the world by storm, but not in the ways that many expected. WLD token has received the attention of regulatory authorities, and personalities were talking about it already, but not with a tone of appreciation.

However, the recent pump seems to have changed things significantly, with many influencers in the space along with companies now looking to see if the token would really be of any value, which could ultimately result in the price of the project going higher in the potential future.

However, since it is already a pumped token with a massive market cap, one alternative to consider investing in as suggested above could be the Smog token. With its excellent meme concept and a growing community, it may be very likely that the token will shoot up in value in the future, making it an excellent investment option to consider participating in right now.

Buy Smog

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