The crypto community is abuzz after on-chain investigator ZachXBT publicly criticized the World project (WLD Token ), co-founded by Sam Altman, calling it a fraudulent scheme. This statement comes shortly after tech billionaire Elon Musk continued his online attacks on Altman, reigniting the controversy surrounding the iris-scanning biometric identification project.
According to ZachXBT, the biggest point of contention lies in World's (formerly known as Worldcoin) tokenomics. He argues that the WLD Token was launched with a very low initial circulating supply, creating a sense of scarcity to drive up the price – a strategy heavily criticized during the collapse of FTX, led by Sam Bankman-Fried. With limited supply but demand stimulated by media attention, the Token price easily surges in the early stages, then faces Dump pressure as the supply gradually unlocks.
ZachXBT specifically highlighted the "biometric data for Token" model. The project deployed Orb devices in several developing countries, where citizens had their irises scanned to receive a small amount of WLD, with the promise of a global identity verification system for the AI era. However, according to this investigator, a dark market for buying and selling verified accounts has emerged, raising concerns that the goal of "verifying real people" may be undermined from the very foundation.
