Worldcoin Foundation Launches $5 Million Grant Program

• Worldcoin Foundation introduces the “Wave0” grant program, allocating $5 million in WLD tokens to the community.
• The grant encompasses three tracks on the Ethereum blockchain, emphasizing a community-focused approach beyond developers.
• Grants aim to address issues like income inequality, governance, and existential risks, extending beyond pure development efforts.

Worldcoin Foundation, a non-profit organization, has unveiled a $5 million community grant program named “Wave0.” This initiative aims to empower developers with the resources to focus on building robust technology and fostering more equitable systems within the Worldcoin ecosystem.

The foundation plans to allocate the $5 million funding across three distinct grant tracks, all of which will be denominated in WLD tokens, the native currency of the Worldcoin protocol, operating on the Ethereum blockchain.

According to a draft press release obtained by CoinDesk, these grants are not solely directed at developers. Instead, there’s a broader community-focused approach that includes raising awareness and educating people about the technology’s mission in addressing issues like income inequality, governance, and other existential risks.

Remco Bloemen, Head of Protocol at the Worldcoin Foundation, emphasized in an interview with CoinDesk that the grants extend beyond pure development efforts. He highlighted the importance of a collective community effort, encompassing awareness and education, to underscore the significance of the work being done.

Worldcoin Grant Program will support projects in research and development

The grant program will specifically support projects engaging in research and development efforts, exploring areas such as the intersection of privacy and biometrics. Grant recipients may also include those presenting innovative use cases leveraging Worldcoin and World ID.

This announcement coincides with recent developments involving Sam Altman, co-founder of Tools for Humanity, the primary development firm behind Worldcoin. Altman, who found himself entangled in a challenging situation with OpenAI, continues his role at Worldcoin amidst governance changes at OpenAI.

As Worldcoin’s Wave0 Grants program takes center stage, it signifies a proactive step towards building a resilient and equitable foundation for the Worldcoin protocol, while the broader crypto community watches with interest and anticipation.