Sam Altman’s Worldcoin has skyrocketed to a whopping 400% YTD, thanks to OpenAI’s new launch, Sora. The latest AI model can generate a 1-minute video with just text prompts and is reportedly garnering rave reviews across social media circles. Amidst Sora’s release, Worldcoin’s native token, WLD, is up by more than 150% in the last week to trade at $8.6.
Additionally, the World App, the first wallet built for the project, passed 1 million daily users this week, hitting a record high, and is now “3.5 million unique humans strong,” according to the Worldcoin Foundation.
Altman, the man behind OpenAI and Worldcoin, has spearheaded two of the most groundbreaking technologies: artificial intelligence and blockchain. His crypto venture operates Orbs, custom imaging devices developed for the Worldcoin project by Tools for Humanity [TFH].
In October, the team declared that Orb device operators would receive payments in WLD tokens rather than USDC. This strategic shift comes as the circulating supply of WLD tokens crosses 1% of its total 10 billion token supply. WLD’s explosive rally has generated windfalls among 3AC creditors.
Worldcoin’s Unexpected Benefactors
3AC is one of the prominent investors in the Worldcoin project, and the token’s rally has brought some solace to its creditors. The official liquidator of the bankrupt crypto hedge fund, Teneo, has unexpectedly become the biggest benefactor. Data from Scopescan revealed that Teneo’s WLD wallet address crossed a staggering $900 million.
Ecstatic about the price increase, Zhu Su, former CEO of 3AC, posted, “Got hated on a lot for this Worldcoin investment in 2021. I remember the hit pieces on it were so bad most of the Seed Rd refused to tweet to support it.”
According to earlier reports, Three Arrows Capital owed creditors approximately $3.3 billion. Last year, a British Virgin Islands court took a significant step by freezing assets exceeding $1 billion belonging to the founders of 3AC, effectively preventing them from transferring or selling their assets.
Teneo, having received approval from the Singapore High Court, is actively investigating 3AC’s local assets, including bank accounts, real estate, and cryptocurrencies. The liquidator has taken control of a minimum of $40 million of Three Arrows Capital’s assets, although this constitutes only a fraction of the total owed to creditors.