Sam Altman’s eye-scanning project launches cryptocurrency in the US

Over the past few years, what sounds like an episode of Black Mirror has been unfolding in real life: millions of people around the world have agreed to let metallic orbs scan their eyes in exchange for receiving a blockchain-based ID and a cryptocurrency called Worldcoin.

Beginning this week, Worldcoin (WLD) will be available in most of the US for the first time, including via exchanges like Coinbase. Those who scan their eyes at a World orb will receive 16 WLD. Meanwhile, people who have downloaded and already registered with the World app in the US will receive a “pioneer grant” of 150 WLD dropped into their wallet.

The Sam Altman co-founded startup behind the project, Tools for Humanity, is also working with Visa to release a debit card later this year that converts WLD to fiat currency at checkout. Altman, who is currently the chairman of Tools for Humanity, announced the news alongside CEO Alex Blania at a press event in San Francisco on Wednesday, dubbed “At Last.”

More than 7,000 of World’s orbs will be available for iris scans at physical “World Space” locations in Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco, as well as in Razer stores. Tools for Humanity updated the orb’s physical design last year, and on Wednesday, it teased a smaller “orb mini” that resembles a smartphone.

Since it was founded by Altman, Blania, and Max Novendstern in 2019, the startup’s stated mission has been to make World ID the primary method for verifying humans online. The implicit goal is to address the societal ramifications of OpenAI, Altman’s other company. As AI becomes more advanced, the idea is that a system like World ID will become necessary for distinguishing between what is generated and what is not. In Altman’s vision of the future, Worldcoin could also serve as a form of universal basic income for individuals whose jobs have been replaced by AI.

Aside from its upcoming debit card with Visa, the primary way to use Worldcoin is through the World wallet app, which enables users to send WLD and other cryptocurrencies to each other via a private chat service tied to World IDs. The World mobile app also offers over 150 mini-apps, including a new one from the prediction market Kalshi. World is also launching ID integrations with Stripe, Match Group, the parent company of Tinder, and Razer’s gaming platform.

While previous SEC Chair Gary Gensler took a hard-line, litigious approach to crypto, the Trump administration has significantly dialed back scrutiny of the space. That political shift gave Tools of Humanity the confidence to launch Worldcoin in the US now, although the token is still not available in New York state.

Despite facing strong pushback from other governments due to its use of biometric data, Worldcoin has still managed to become one of the largest crypto projects in the world. The startup says that, so far, its orbs have verified 12 million humans from over 100 countries on its Ethereum-based World Chain. The price of WLD, meanwhile, has fluctuated wildly. It was trading below its 2023 debut price ahead of Wednesday’s event.