Worldcoin, the digital identity project backed by OpenAI CEO Sam Altman, has officially rebranded as World Network, often referred to simply as “World.” Alongside the rebranding, the project announced the launch of its new blockchain, World Chain, which is built as a Layer 2 network secured by Ethereum. The change signifies a shift in the project’s mission and a broader vision that aims to accelerate global human interaction and identity verification in an AI-driven future.
World Chain, the project’s new blockchain, has now gone live on the mainnet. Several key players in the blockchain space, including Optimism, Alchemy, Uniswap, Safe, Dune, and Etherscan, are supporting the launch of the blockchain, ensuring smooth integration and operation within the larger Ethereum ecosystem.
Shifting Focus to Humanity-Centric Goals
The decision to rebrand from Worldcoin to World Network reflects the project’s evolving goals. World explained in its announcement that the name “Worldcoin” no longer accurately captured the full mission of the project. The new branding is intended to emphasize the importance of creating a network that centers on real, verified human users. As the project’s scale increases, so does the significance of its World ID service—a digital identity verification tool that authenticates a user’s humanity. This feature is considered vital as AI technologies continue 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-centric network designed to foster a positive future, where human identity remains central to technological progress, particularly as artificial intelligence plays an increasingly dominant role online.
Launched in July 2023, World ID offers users a digital identity solution that verifies their personhood both online and on-chain. The project requires participants to provide biometric data, including iris scans, to prove their identity. Those who undergo this process receive World ID, which acts as a digital passport, and are also rewarded with the project’s cryptocurrency, WLD. According to the company, more than 10 million users across 160 countries have already signed up for World ID, indicating the platform’s growing global reach.
Building a Human-First Blockchain
Tools For Humanity, the developer behind World Network, co-founded by Altman, envisions the project as a solution to distinguish real human users from AI entities as the internet becomes increasingly populated with chatbots and automated assistants. World Chain is described as a blockchain designed exclusively for human participants, focusing on creating a community for real, verified individuals. The chain is built using the OP Stack and is expected to provide users with lower gas fees and a growing range of useful applications.
World Network sees the launch of World Chain as a crucial 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, underscoring 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 development and direction of the chain. The focus on user participation is aligned with the project’s vision of creating a more human-centered internet.
Market Performance and Outlook
As of now, the project’s cryptocurrency, WLD, is valued at $2.13, reflecting a slight decrease of 3.68% over the past 24 hours. With a market capitalization of $1.1 billion, WLD continues to hold significant value within the cryptocurrency market, even as its price fluctuates.
Overall, the rebrand and blockchain launch signal a new phase for World Network, positioning it to play a central role in the intersection of human identity verification and blockchain technology. As the demand for digital identity solutions grows and AI-driven interactions increase, World Network aims to offer a future where humans remain at the heart of technological innovation.