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Headline : Oh No, Theres an Orb Shortage

Read more from the original article on here at gizmodo.com.





Tags : #theres #orb #shortage



No. of Paragraph 10

Worldcoin, the project that hands out free cryptocurrency in exchange for biometric data, is experiencing a shortage of the orbs that scan everyoneโ€™s eyeballs, according to a new report from Semafor. But Tools for Humanity, the startup behind Worldcoin, seems to think thatโ€™s a good sign. Apparently, 10 million people in 160 countries have been willing to hand over their scans in exchange for some free crypto.

Tools for Humanity was founded in 2019 by OpenAIโ€™s Sam Altman and CEO Alex Blania as a form of universal basic income experiment. Everyone whoโ€™s willing to get their eyes scanned gets 10 Worldcoin (roughly $50 in total at the current price) and three Worldcoin every two weeks after that, according to Semafor. The program isnโ€™t available to people inside the U.S. right now, which Americans can interpret as either a good or bad sign, depending on your feelings about crypto.

Semafor reports there are somewhere between 300 and 500 Worldcoin orbs out there in the world right now, and while the initial idea was to make the devices mobile so they could be moved around to wherever people congregate, it appears the idea is so popular Worldcoin can remain stationary and allow people to come to them. In fact, theyโ€™re getting swamped with so many people the orbs canโ€™t be produced fast enough.

Everyone loves free money, even if they have to hand over sensitive data, but whatโ€™s the business model? Despite having some very high-profile investors, that part isnโ€™t clear, at least officially. Worldcoin announced its own blockchain built on the Ethereum network last week and World Assets, a subsidiary of the Worldcoin Foundation, announced on Tuesday itโ€™ll be selling a whole lot of crypto in the near future, according to CoinTelegraph.

Read more from the original article on here at gizmodo.com.


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