When Worldcoin Debut Makes The World Shock, AI Tokens Are Stagnant

Orbs is an eye slice scanner from Worldcoin. (photo: twitter @worldcoin)

When Worldcoin (WLD) debut drew attention to artificial intelligence tokens (AI), the latest trading data from Kaiko showed that AI tokens had stagnant despite hype surrounding the launch of Worldcoin.

According to the data, the volume of AI-related token trading has increased stably over the past month, with the increase in AI token trading volume from US$570 million (Rp8.7 trillion) to US$870 million (Rp13.3 trillion) from late July to late August. However, this volume has fallen significantly since early 2023, when it reached more than US$7 billion (Rp107.2 trillion), and has been stagnant since then.

Dessislava Ianeva, an analyst from Kaiko, noted that enthusiasm for AI tokens began to fade in July, mainly due to changes in global risk sentiment. Total open interest for the five largest AI tokens, which do not include WLD, fell from 170 million US dollars (Rp 2.6 trillion) in February to 60 million US dollars (Rp919.5 billion) in August.

Worldcoin made its debut on July 24, 2023, attracting attention from the crypto community. The sensation around this project was mainly caused by one of its founders, Sam Altman, who also serves as CEO of OpenAI.

Worldcoin's main goal is to create a network consisting of genuine individuals, without involving automated bots. The San Francisco-based company plans to issue World IDs to individuals, with the aim of creating a future where individuals can interact with websites without disclosing personal information such as name, phone number, or email address, thanks to the system "global identity verification."

However, global regulators and privacy advocates have expressed substantial concerns about this initiative, pointing to a lack of clarity in the organization's data collection procedures. The widespread aggregation of personal data by one entity creates substantial concerns about data privacy.