Worldcoin, the digital identity project backed by OpenAI CEO Sam Altman, has officially rebranded to World Network, sometimes simply referred to as “World.” Alongside the rebrand, the project announced the launch of a new blockchain, WorldChain, built as a layer 2 network secured by Ethereum. This change signifies a shift in the project’s mission and a broader vision aimed at accelerating global human interaction and identity verification in an AI-driven future.
The project’s new blockchain, World Chain, is now live on mainnet. Several major companies in the blockchain space, including Optimism, Alchemy, Uniswap, Safe, Dune, and Etherscan, supported the blockchain launch and ensured smooth integration and operation within the larger Ethereum ecosystem. I am.
Shift focus to human-centered goals
The decision to rebrand from Worldcoin to World Network reflects the project’s evolving goals. In its announcement, World explained that the name “World Coin” no longer completely accurately captures the project’s mission. The new branding aims to emphasize the importance of building networks around real, verified human users. As the project scales, so does the importance of the World ID service, a digital identity verification tool that authenticates the humanity of users. This capability is considered essential as AI technology continues to proliferate.
World Network operates on three core pillars: World Chain, World ID, and Worldcoin, the cryptocurrency that forms the backbone of its ecosystem. Together, these elements make up what World describes as a human-centered network designed to foster a positive future. Human identity will continue to be central to technological progress, especially as artificial intelligence plays an increasingly dominant role online.
Launched in July 2023, World ID provides users with a digital identity solution that verifies their identity both online and on-chain. The project requires participants to provide biometric data, such as an iris scan, to prove their identity. Those who undergo this process will receive a World ID, which acts as a digital passport, and will also receive WLD, the project’s cryptocurrency, as a reward. The company says more than 10 million users in 160 countries have already registered with World ID, demonstrating the platform’s growing global reach.
Building a human-first blockchain
Tools For Humanity, the developer of the World Network co-founded by Altman, envisioned the project as a solution to distinguish between actual human users and AI entities as chatbots and automated assistants become increasingly prevalent on the Internet. I am. World Chain is described as a blockchain designed exclusively for human participants, with a focus on creating communities for authentic and authenticated individuals. The chain is built using OP Stack and is expected to reduce gas costs and expand the range of useful applications for users.
World Network sees the launch of World Chain as an important step in its journey, describing it as the largest application on Optimism’s OP mainnet. In fact, the project claims that user transactions on World Chain account for 44% of the total activity on OP Mainnet, highlighting its prominence in the Optimism ecosystem.
Looking to the future, World Chain’s team envisions a platform where users not only enjoy practical benefits such as reduced transaction costs, but also have the opportunity to influence the chain’s development and direction. The focus on user participation aligns with the project’s vision of building a more human-centric Internet.
Market performance and outlook
At the moment, the value of the project’s cryptocurrency WLD is $2.13, reflecting a slight decline of 3.68% in the past 24 hours. With a market capitalization of $1.1 billion, WLD continues to hold significant value within the cryptocurrency market despite price fluctuations.
Overall, the rebrand and blockchain launch mark a new phase for World Network, positioning it to play a central role at the intersection of human identity verification and blockchain technology. As demand for digital identity solutions increases and AI-driven interactions increase, World Network aims to deliver a future where humans remain at the center of innovation.
