Jul 28, 2023

The highly anticipated project co-founded by OpenAI's Sam Altman launched its WLD token earlier this week.

Video transcript

Let's take a look at our top story. Everyone's been talking about World Coin this week and the tie has compiled some data since the highly anticipated project co-founded by open A I. Sam Altman launched its Token on Monday. We can, we can see world coins price there on the chart. Uh Down quite a bit since it launched just days ago, Lawrence, talk to us about what's going on with world coin. Yeah. You know, when you look at it, when you look at the price being that way, uh you know, you, you might see it and go oh gosh, you know, this is, this is uh this thing is going to zero or, or whatever. No, no, this is right now. It's in the twenties here. Uh And, and you know, one of the controversies, of course was the tooms. And when, when the coin came out, uh even before, actually, there was some controversy because if you take a look at this, this pie graph here, uh 75% is going out to the community, but initially, it was supposed to be 80%. So 80% going to people, let's say who get their eyes scanned. Uh You know, a lot of people have been lining up getting, you know, uh tens, you know, 50 $100. I don't remember exactly how much, how many, uh how much they were getting paid per scan if you will. Uh So there was kind of this sort of everyone's interested in it, they get their tokens, they're all excited. Uh Except in the US, we, I think you can't get a drop yet. Um But if we look at the next chart, this is, this is kind of interesting because this shows exactly what you're in for. Uh there, there are 10 billion in total. If you were to fully dilute all the tokens out there, it's 10 billion in total right now. The market only has a couple 100 million out there. Um And, and not even that much. But if you look at over the next three years, that's when the real ramp up happens. That's when the investors in uh tools for humanity. TFH start getting paid uh in, in, you know, they fully uh vest there and then uh you know, the, it increases all the way until we get to 15 years out when we get to 10, a total of 10 billion tokens out there that puts the market cap the diluted value of uh of world coin right now at about 20 some odd billion dollars. So it's between um UD coin and Dogecoin. So all of a sudden overnight you had this, this token uh becoming one of the top 10 tokens in crypto. So it, it's definitely something to, to note here. So even though we saw the price come down from, uh from Monday, it still doesn't mean that we coin is going away just yet. It's now a uh it's a big player. You know, the market cap looks a lot lower uh when you just use a circulating supply. But when you look at total, the total uh value based on a diluted value, that's a huge, huge token Lawrence wrap this up for me very quickly. What does the data say are the token economics sustainable here? Uh As long as there are buyers II I, it's really that, I mean, look, you, you have a, you have a limited, you have a limited supply right now of tokens and there's a lot of buzz going on. So I, I think a lot of people aren't paying attention to the fully diluted uh value of the company uh uh of the uh of the project if you will, uh I can't say company anymore because SEC might get upset. But uh it, it's still this kind of thing where OK, this is, um you know, there, there's like a lot of demand for it, but we'll see how it goes when people start realizing they're gonna try some questions. Is it worth more than Dogecoin? Well, right now they're saying yes, but we'll find out for certain soon. All right, Lawrence. Thank you for that and you unpack it in your newsletter for the tie. So people should go and subscribe.

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