Worldcoin pauses Orb verification in India, Brazil and France: TechCrunch

Worldcoin WLD +3.01% , the crypto project co-created by OpenAI CEO Sam Altman, is no longer offering its Orb-verification service in India, Brazil and France — a matter of months since it launched the eyeball-scanning device in the countries, TechCrunch reported.

The Worldcoin Foundation told TechCrunch that it expanded the service to many markets this year for “limited time access.”

Clarifying the situation, the Worldcoin Foundation told The Block that the Orb rollouts in Brazil and France were only meant to be limited previews and there are plans to launch in those markets in a more ongoing way in 2024.

With regard to India, Orb services have been temporarily paused. “World App continues to experience broad adoption in India where thousands download the app each week. Orb-verified proof of personhood services have been temporarily scaled back as the protocol works to develop and roll out a bespoke, safe and orderly process that sufficiently meets the demand for World ID in India," the Worldcoin Foundation said.

Worldcoin is an identity-focused crypto project that uses the Orb devices to scan people’s irises to help them "verify their humanness." It uses WLD as an incentive to sign up to the protocol — rewarding users with tokens to receive a “World ID.”

The project embarked on a multi-city tour earlier in 2023, showcasing the Orb in locations across North America, Europe, the Middle East and Asia.

Pop-up kiosks around the world drove crowds of thousands to sign up and collect the tokens. Almost five million people now have a World ID, and more than 2.5 million have verified their uniqueness with an Orb.

Facing regulatory hurdles

However, in August, the project was suspended in Kenya — one of its biggest markets — while the country assesses what risks it poses to its population.

Worldcoin remains committed to “working with partners globally to ensure it meets regulatory requirements and provides a safe, secure and transparent service for verified humans,” the Worldcoin Foundation told TechCrunch.

When WLD launched in July, its price shot to above $3 before falling to a low of just above $1 in September, drawing criticism from some commentators, who claimed a “low float” structure had created an artificially high price. However, it currently trades at $3.65, up 2.2% over the past 24 hours and 50% over the past month, according to The Block's price page.

WLD/USD price chart. Image: The Block/TradingView.

World ID 2.0 and Tools For Humanity’s WLD sales

Last week, Worldcoin announced integrations with popular platforms, including Telegram, Reddit, Minecraft, Shopify and Mercado Libre, as part of its “World ID 2.0” upgrade. The update "makes it easier to distinguish between bots and verified humans online while preserving privacy with popular apps and services with new pre-built integrations," Worldcoin said in a statement.

Mexico and Singapore will join the list of locations where people can find Orbs to register for the service, with devices currently available in 12 countries, including the U.S., Germany, Spain and South Korea, according to the Worldcoin website.

Earlier this month, The Block reported Worldcoin developer Tools For Humanity was looking to raise more capital through the sale of discounted WLD tokens, holding talks with multiple investors in recent weeks about a potential over-the-counter sale of WLD.

Two people familiar with the process said the company wants to raise up to $50 million, with WLD potentially priced at $1 per token — a significant discount to the prevailing spot price. However, another person close to the deal stressed that no terms had been finalized.

Updated with clarifications from the Worldcoin Foundation.