- Worldcoin (WDC) and Sam Altman’s Worldcoin are two unrelated projects.
- The recent WDC price hike may have been caused by confusion over the name itself.
- Investors need to be careful and do thorough research before investing.
Worldcoin, an eye-scanning crypto project with Open AI CEO Sam Altman as co-founder, recently launched a controversy over privacy and digital identity. This discussion has been accompanied by an increase in the number of uncorrelated tokens – WorldCoin (WDC).
WorldCoin, which is not related to Altman’s Worldcoin, is experienced A significant increase Between May 15th and May 17th, though, there were no new updates from the project. Instead, the increase is likely due to latest post About the Altman project, which led to confusion among investors.
Mysterious Code was launched in 2013 with the market cap From about $9 million, he apparently cashed in on the success of his namesake.
WorldCoin and Worldcoin
WorldCoin is an ancient cryptocurrency that has remained mostly unnoticed, with relatively low market capitalization and volume. Launched in 2013The project claims to be the ninth oldest cryptocurrency in the world. Since then, it has seen little development.
On the other hand, Sam Altman launched his business Worldcoin in 2019 and pioneered eyeball scanning technology to verify identity. Worldcoin has a token, but it is not for sale. Altman’s Worldcoin is not tradable and has no market value.
This fact seems to confuse some users who are looking to capitalize on the success of the Worldcoin backed project. Between May 15th and 17ththe price of the token increased from $0.0395 to $0.063.
This was not the first time that the WDC price had unexpectedly risen. The coin surged 1,000% in March, possibly also due to a false link to the Altman Project.
An unexpected price hike prompted a response from the WDC. The project posted a prominent disclaimer on its website to educate investors about these two tokens.
Welcome newcomers. We want to clarify something with you. WE ARE NOT ORB RETINA SCANNING WORLDCOIN COMPANY“They are scammers stealing our name,” the site writes. “We don’t want you to invest in the wrong currency,” the disclaimer continues.
on the flip side
- Confusion about stock names and index costs Millions of dollars investors every year, according to a 2019 study. For example, investors They mix regularly Ford Motor (F) With Forward Industries (FORD).
- WDC saw significant price hikes even before Sam Altman announced his Worldcoin developments.
Why should you bother
The confusion between WorldCoin and Sam Altman’s Worldcoin project highlights the dangers of investing based on hype or misunderstanding.
Read more about the Worldcoin launch that led to confusion:
Read more about the most popular and eye-scanning Worldcoin: