Worldcoin Attracts Hundreds of Users in Hong Kong, Still WLD Drops

Following the launch of the highly anticipated Worldcoin project on Monday, Hong Kong has witnessed hundreds of registrations, but the WLD token has pulled back a bit.
How Worldcoin Started
On July 24, a digital authentication provider called Worldcoin officially started offering its services. The launch of the project has been long awaited in the crypto community and has been talked about since 2021.
Worldcoin was co-founded by ChatGPT creator Sam Altman and aims to use blockchain technology to tackle some AI-related issues. The product of the main platform is World ID, a kind of "digital passport" that can prove that an online user is a real person, not a bot. To obtain a World ID, its iris must be scanned by a device from a company called Orb in one of the locations offered.
So far, Worldcoin has launched its Spheres in 35 cities in 20 different countries, with a total of 124 open locations. According to the data on the day of the first project, the most people visiting Orbs were recorded in Hong Kong.
Around 600 people reportedly visited Orbs (200 per one of the three locations) in Hong Kong on Monday, with at least 500 more arriving on Tuesday. Heatherm Huang, co-founder of the Measurable Data Token blockchain firm, one of three Orb operators in Hong Kong, said on Monday that about half of the total registrations for Worldcoin were recorded in Hong Kong. This means that a total of about 1,000 people had their irises scanned by an Orb on Worldcoin's launch day.
Compared to the 2 million pre-registrations for World ID on July 13, 1,000 Orb visits on opening day doesn't seem like much, although it's too early to draw any conclusions.
To encourage more users to sign up for World ID, the company has even pledged to give 25 WLD (equivalent to around $60 USD at the time of this writing) to anyone who visits an Orb. Thus, after their irises have been scanned, both a World ID and 25 WLDs can be retrieved in World App wallets.
Worldcoin Faces Criticism
Despite all the benefits and seemingly good intentions behind the project, Worldcoin has been receiving a lot of backlash lately. Many have expressed concerns about the level of privacy and security that World ID can offer.
Ethereum co-founder Vitalik Buterin listed the four main risks associated with Worldcoin's system, while UK watchdogs said they would "do further research" on the project.
WLD Waits For A Catalyst To Add Value
The WLD token started at $3.3 on Monday, dropped to $2.1 the next day and still hasn't grown much since then. It looks like the coin needs a push to surpass $3 again. WLD is currently trading at $2.33 according to CoinMarketCap.
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