The Worldcoin token, a cryptocurrency created in part by OpenAI CEO Sam Altman, is set to launch Monday, according to people familiar with the matter.
The token has been controversial in Silicon Valley for its ambitious and unorthodox approach to trying to solve two vexing problems: Online identity authentication and income inequality.
But in recent conversations with investors, Altman has played his ace card, using advances in AI to entice people to put money into Tools for Humanity, the company behind Worldcoin, according to people briefed on the matter. If the value of the coin increases, it could be a massive windfall for Altman and other investors.
The token economics — a breakdown of how the tokens will be distributed — will be made public Monday, the people said.
Tools for Humanity has offered people around the world free Worldcoin tokens, called “WLD,” in exchange for scanning their irises with a device called “The Orb.” The iris scans ensure that each person can have only one Worldcoin ID.