tldr; Worldcoin, launched in 2023, has seen an 84% drop in value due to flawed tokenomics and regulatory scrutiny. The project, led by Sam Altman, aimed to create a global identity verification system using blockchain. However, excessive token supply, lack of demand drivers, and questionable utility have undermined its success. Additionally, regulatory concerns over biometric data collection have hindered adoption. To recover, Worldcoin needs to revise its tokenomics, address privacy issues, and clarify the token’s utility.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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tldr; Worldcoin, launched in 2023, has seen an 84% drop in value due to flawed tokenomics and regulatory scrutiny. The project, led by Sam Altman, aimed to create a global identity verification system using blockchain. However, excessive token supply, lack of demand drivers, and questionable utility have undermined its success. Additionally, regulatory concerns over biometric data collection have hindered adoption. To recover, Worldcoin needs to revise its tokenomics, address privacy issues, and clarify the token’s utility.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.