Worldcoin (WLD): what it is and what can go wrong

Research desk verdict

Coming after our contract and holder checks finish for this coin. See the Scorecard for every call so far.

What it is

Worldcoin, renamed "World" in October 2024, is a project that tries to prove a person is a unique human online. People visit a device called the Orb, which scans their irises and issues a digital credential, World ID, that apps can check without learning the person's name. WLD is the project's token. It is handed out to verified people and can be used on World Chain, the project's own Ethereum-based network.

The main developer is Tools for Humanity. The total supply is 10 billion WLD, but less than half was unlocked as of April 2026. Three-quarters of the supply is set aside for the community and is released slowly through 2038. Team and investor tokens are still unlocking and are expected to finish around 2028 or 2029. The daily unlock rate fell by about 43% in July 2026 under a schedule written into the contracts.

The iris-scanning model has drawn regulators in many countries. Authorities in Kenya, Indonesia, Spain, Portugal, Hong Kong, Germany and Brazil have suspended, restricted or ordered changes to the project, mostly over consent and biometric data.

What can go wrong

Repeated regulatory action over biometric data can shut down sign-ups in whole countries.
Large, steady token unlocks for both the community and insiders continue for years.
Less than half of the 10 billion supply is unlocked, so the market value most people see understates the full supply.
The token's value depends on World ID being widely adopted, which is not yet proven.
WLD has fallen more than 90% from its March 2024 high.

Scanning your iris and buying WLD are separate decisions; read the privacy terms before visiting an Orb, and check the unlock schedule before buying the token.

Safety checks

Track recordGoodTrading since 2023, about 3 years. It has been through at least one full market cycle.
Trading activityGood$596.2 million traded in the last 24 hours, 27% of its market value. That's enough activity that a normal-size order shouldn't move the price.
Coins still to comeRed flag3.82 billion of 10.00 billion maximum coins are in circulation, so about 62% are still to be released. A large share hasn't been released yet. Unlocks for insiders and early backers are a common reason prices fall.
Distance from its peakRed flagDown 95% from its all-time high of $11.74 in March 2024. Most people who bought near the top have lost most of their money. A big drop doesn't make a coin cheap.
Past yearFor context−36.7% over the past year, against −25.3% for bitcoin. It has done worse than simply holding bitcoin.

History of trouble and big events

July 2023: WLD launched.
October 2024: Project rebranded from Worldcoin to World.
May 2025: Indonesia suspended the project's operations; days later Kenya's High Court ordered deletion of biometric data collected there.
July 24, 2026: Daily token unlock rate cut by about 43%, from roughly 5.1 million to 2.9 million WLD.

Holding a token on a smaller network, or got sent one you don't recognize? Run its address through the free checker. Copycat tokens often borrow big names.

Sources

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Worldcoin WLD

What it is

What can go wrong

Safety checks

History of trouble and big events

Sources