Worldcoin WLD Price: Skyrockets Following OpenAI’s Sora Intro

OpenAI, the US-based artificial intelligence (AI) research behind the prominent ChatGPT, introduced Sora last week, a new AI model that can help generate a 60-second video from textual commands. While this is a big moment, the tech is still new.

Shortly after the tool’s introduction, Worldcoin (WLD), a blockchain project led by OpenAI CEO Sam Altman, soared from around $3 at the time of Sora’s introduction to over $7 at press time, according to CoinGecko’s data.

WLD has surged over 188% over the last seven days and set a new record high as bullish momentum keeps building up on OpenAI’s landmark milestone in AI development. AI is making big things happen. People are throwing money at it – but its long term impact may be limited.

AI is Hot!

OpenAI further posted a couple of short clips that showcase what Sora’s output looks like. One of the clips shows Tokyo in winter, with people walking around an area of ​​stalls under a row of blooming cherry blossom trees. Another clip shows a model walking under the neon lights of downtown Tokyo.

According to OpenAI, Sora can generate high-quality, almost lifelike videos for up to one minute, allowing language users to customize complex content details, footage, layout, and colors of people and scenes, among others.

However, the company notes that Sora’s videos still have some limitations, such as being unable to simulate physical effects, ensuring a cause-effect relationship, distinguishing between left and right, or following the camera trajectory.

Altman also interacted with the community, resharing text descriptions from followers and their Sora-built videos. Undoubtedly, the AI tool quickly drew public attention and sparked widespread interest.

A few hours after the introduction, Sora became one of the most popular hashtags on X. Most members embraced the tool as the next big thing in AI development. On the other hand, Sora also sparked controversies over its rapid advancement, as many considered it a threat to the human workforce.

Many Questions Remain

While making waves across social channels, Sora is currently unavailable for public use due to safety and security concerns. OpenAI affirms that it will work with technology and legal experts to ensure its products will not be abused by bad actors to create fake news, harmful content, and image copyright infringement.

In the past, WLD has also been volatile due to news surrounding OpenAI. The most recent event was when Sam Altman reportedly departed from his position as CEO, which caused a price drop. When he was reinstated a few days later, WLD surged 13% on the news.

While a set of OpenAI tools focuses on having AI assist humans, Worldcoin’s vision is to scan humans’ iris to distinguish them from robots.

Despite ongoing debates, Worldcoin has secured several achievements since its launch. Following two funding rounds in 2021 and 2022, with $125 million in total, the firm raised $115 million in May 2023 in a funding round led by Blockchain Capital, with the participation of a16z, Bain Capital Ventures, and Distributed Global.

Apart from funding, Worldcoin has established partnerships with a number of key industry players, including Optimism. According to the firm’s announcement, Worldcoin’s World ID and World App will leverage the OP Stack.

By the end of last year, Worldcoin launched World ID 2.0 with three-level verification and integration with major platforms such as Minecraft, Reddit, Telegram, and Shopify. Worldcoin also revealed at launch that it is implementing plans to expand operations to Mexico, Singapore, and many other Asian countries.

According to information from the project’s website, over 3.4 million people have scanned their iris with Orb to verify their identity, and over 76 million WLD tokens have been distributed to Worldcoin’s users.