Worldcoin (WLD) Shoots Up as OpenAI Announces New ChatGPT Model

OpenAI unveiled new addition to its array of artificial intelligence models, sparking considerable interest across various sectors, including the crypto market.

Named OpenAI o1, this new model marks a notable departure from the company’s previous iterations. It promises enhanced reasoning capabilities and improved performance on complex tasks.

Worldcoin Price Surges 16%

OpenAI claims this new series of AI models is adept at “thinking before responding.”

“We’ve developed a new series of AI models designed to spend more time thinking before they respond. They can reason through complex tasks and solve harder problems than previous models in science, coding, and math,” OpenAI said in a blog.

Despite its size, the smallest unit of this new model lineup reportedly surpasses the capabilities of the GPT-4o in several critical areas. These include AI testing benchmarks that simulate PhD-level challenges.

Read more: How To Build Your Personal AI Chatbot Using the ChatGPT API

However, in creative domains such as writing and artistic endeavors, the improvements have been less pronounced. This specificity in enhancement has attracted tech enthusiasts and professionals looking to leverage these AI tools for specialized applications.

Financially, the impact of this technological leap was immediate in the crypto ecosystem. The overall market capitalization of AI-related tokens has seen a modest uptick of 2.1% in the last 24 hours.

Meanwhile, Worldcoin (WLD) experienced a significant surge, climbing approximately 16% post-announcement. However, as of writing, it has stabilized at a 9.5% increase, trading at $1.518.

This surge is particularly notable because Sam Altman is the co-founder of both Worldcoin and OpenAI. Despite this affiliation, Worldcoin has been a figure of controversy within the crypto community due to its tokenomics.

Currently, out of a total supply of 10 billion WLD tokens, only 434 million are in circulation, according to the latest figures from CoinMarketCap.

This tightly controlled supply increases with the release of 2 million tokens daily starting July 24. Each batch is valued at around $3 million at current prices.

Consequently, this gradual release mechanism is anticipated to introduce selling pressure on the market, reflecting the low float ratio of 0.02 highlighted in a May 2024 CoinGecko report. Such a low ratio suggests that only a limited number of tokens are available for trading, potentially leading to increased volatility as more tokens enter the market.

Read more: Worldcoin (WLD) Price Prediction 2024/2025/2030

Critics, including on-chin sleuth ZachXBT, have been vocal on platforms like X (formerly Twitter). The narrative around Worldcoin ranges from cautious optimism to outright skepticism.

“WLD has the worst tokenomics right now and is programmed to slow rug. I think short-term pump and dumps should be expected more often on WLD to attract buyers for exit liquidity, but for long-term price forecast, WLD to $0.1 is programmed,” Marius Capital said on X (Twitter).