OpenAI CEO Sam Altman’s Worldcoin project, recently gaining prominence in the digital asset space, has made a significant announcement in the global web3 environment. Worldcoin, which has been a hot topic in the crypto community, is introducing a hardware device called Orb in Singapore that facilitates identity verification, addressing the growing global interest in proving personal identity.
The announcement, which resonated in the broader crypto market, suggests Worldcoin’s potential for further advancement with its cryptographic initiative. This development follows the successful launch of World ID 2.0, indicating Worldcoin’s commitment to enhancing security and identity verification processes.
The announcement has particularly sparked optimism among the global crypto community, especially in Singapore, where Worldcoin is gaining traction. The project’s presence in the region is further solidified by Tools For Humanity (TFH), which recently became a member of two respected Singapore associations, ACCESS and the Singapore Fintech Association (SFA), proving its significant interest in the Web3 space.
Interestingly, the aforementioned development aligns with a multi-city project recently revealed by TFH’s product development team in Asia. Orb is described as a spherical hardware device specifically designed to enhance identity verification, highlighting TFH’s innovative approach to product development.
Despite these developments, Worldcoin’s price has experienced a 6% decline over the last 24 hours, trading at $3.62. The token’s weekly performance also shows a 3.02% decrease, and the 24-hour trading volume has dropped by 25%, indicating a reduced interest in the altcoin, with the value retreating to $160 million. The overall market cap has fallen by 4.5%, standing at $378 million.
Nevertheless, the recent announcements related to development activities suggest that crypto enthusiasts might be looking for entry opportunities to re-engage with the project soon, despite the current market downturn.
