World Network (CRYPTO: WLD) emerged as one of the biggest cryptocurrency market gainers Thursday after the identity verification project unveiled a pilot feature that would allow users to claim additional tokens.
What happened: WLD, the native cryptocurrency of the newly-branded network, previously called Worldcoin, spiked over 13% to become the second-best-performing cryptocurrency in the last 24 hours.
The coin’s trading volume jumped 145% to around $1.35 billion, boosting the volume-to-market cap ratio to 67%.
The surge in buying pressure came following the launch of a new feature, called “World ID Credentials,” aimed at making the network more accessible.
“The new feature can be added to a person’s World ID whether or not they have verified their humanness at an Orb,” World Network announced.
Furthermore, using Credentials, World ID holders may claim additional WLD tokens, regardless of whether their World ID was validated at an Orb location.
The project would be rolled out in select countries including Chile, Colombia, Malaysia and South Korea
Why It Matters: Sam Altman, co-founder of OpenAI, launched the Worldcoin project last year amid significant media attention.
The project collects people’s irises to authenticate their humanness and creates a digital ID, thereby making them eligible to receive free WLD tokens.
However, the initiative has encountered challenges related to personal data protection. The project has been prohibited in Hong Kong, Kenya, and Spain.
Price Action: At the time of writing, Worldcoin was trading at $2.86, up 13.51% in the last 24 hours, according to data from Benzinga Pro.
Image by CryptoFX on Shutterstock
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