The introduction of Worldcoin into the cryptocurrency landscape brought attention to the world of artificial intelligence-powered tokens (AI-tokens). Despite the controversy that shrouded Worldcoin’s debut, recent trading data from Kaiko suggests that AI tokens have demonstrated remarkable resilience.
According to recent data from Kaiko, the trading volume of AI-related tokens remained relatively stable over the past month. While there was a moderate uptick in the trading volume of AI tokens last month, reaching approximately $870 million—up from $570 million at the close of July—there was a notable decline when compared to the volume at the beginning of the year.
Factors Influencing AI Token Enthusiasm
Dessislava Ianeva, an analyst at Kaiko, noted that enthusiasm for AI tokens began to wane in July, primarily due to shifts in global risk sentiment. The total open interest for five prominent AI tokens—FET, GRT, RNDR, OCEAN, and ROSE—plummeted from $170 million in February to $60 million by August.
Worldcoin (WLD) made its debut on July 24, 2023, capturing the attention of the cryptocurrency community. The fascination surrounding this crypto can be largely attributed to its co-founder, Sam Altman, who also serves as the CEO of OpenAI. However, at the present moment, Worldcoin (WLD) has experienced a 24-hour decline, with its trading price resting at $1.09.
Worldcoin’s Vision and Challenges
Worldcoin’s core objective revolves around establishing a network composed exclusively of authentic individuals, excluding automated bots. The San Francisco-based firm envisions a future where individuals can engage with websites without divulging personal information such as names, phone numbers, or email addresses, thanks to a “global identity verification” system.
Nevertheless, global regulators and privacy advocates have voiced significant concerns regarding the initiative, citing perceived ambiguities in the organization’s data collection practices. The aggregation of extensive personal data by a single entity has raised substantial apprehensions about data privacy in the digital age.