Open AI and Worldcoin are exploring a possible collab that could merge AI and blockchain technology.
The partnership could improve efficiency and user experience for both companies' products
Both companies have faced regulatory issues in the past, which could hinder the partnership. However, things still look promising.
WLD is currently down from its all-time high above $11 but is on the verge of a +200% rally to around $14.2
Two forerunning companies with links to Sam Altman are reportedly in talks for a massive collaboration:
OpenAI and Worldcoin.
These two companies are at the forefront of innovation when it comes to AI research and crypto-based human identity so far, and are now discussing a possible partnership that might give birth to the ultimate merger between AI and blockchain.
However, there might be reasons why this is both “good“ and “difficult” news.
Let’s go over the details.
OpenAI, known as one of the first few companies to bring AI and AI research into mainstream adoption is reportedly making plans with Worldcoin, which leverages cryptography and IoT for human identity verification.
According to Bloomberg, this collaboration might turn out to be an avenue for OpenAI's GPT models to become integrated into Worldcoin's operations, with both of them becoming more efficient and user-friendly.
This is without mentioning the wonders that this merger can do for $WLD, the native cryptocurrency of the Worldcoin project.
As good as this merger sounds on paper, it might be headed for some very difficult times ahead, when it comes to regulation.
It is common knowledge at this point, that the Worldcoin isn’t particularly popular with world governments and regulators.
We have seen bans, pauses and suspensions on Worldcoin’s services in several countries including Portugal, Kenya, India, Germany and Spain, within the first quarter of 2024 alone.
Moreover, OpenAI on the other hand, also came under fire from the European Union sometime between April and May, because of its partnership with Microsoft according to Bloomberg.
There was also the recent issue of Twitter CEO, Elon Musk dragging Altman, OpenAI and the entire board of directors to court, on grounds of “deviating from the original OpenAI mission” according to the New York Times
Moreover, given Sam Altman's involvement in both companies, regulators may see this as an invitation to light fires under the seats of both companies.
Despite these issues, the growth of Worldcoin has been steady so far.
The company recently launched its own L2 blockchain based on the OP stack on the Ethereum network.
Until now, the World ID protocol only operated as any other Dapp, or as a set of smart contracts on the Ethereum network.
However, the move to its own L2 is set to give the developers greater control over the WorldID project, along with marginally higher scalability, and lower fees.
Things seem to be going well for Worldcoin and the WorldID project. However, what about the Worldcoin cryptocurrency?
So far, according to TradingView, $WLD has declined by around 60% from its new all-time high of $11.97 and currently trades at $4.6.
The question now is, will Worldcoin make a comeback, or will we see it decline further?
Worldcoin’s price
In terms of price, Worldcoin isn’t doing well.
We are currently looking at a decline of around 5.4% over the last day, and around 16% over the last week.
However, as bearish as things look, this, in itself, is a buying opportunity.
According to the charts, Worldcoin is doing well above the ascending trendline shown below and is set to enter a rebound at any time from now.
Worldcoin’s price action
To put things simply, further declines are possible, but only as a retest of the ascending trendline above.
With this being said, as long as a break below the $3.7 support doesn't occur, we are bound to see Worldcoin make a comeback and then rally by a staggering 205% to the upside target of $14.2.
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