Worldcoin’s World App Hits 1M MAU Six Months After Launch

Posted by By News Room 5 Min Read
Source: Worldcoin

Six weeks after its launch, Worldcoin’s crypto wallet app, the World App, has reached over one million active users (MAUs) and achieved over four million downloads.

In an official announcement on November 1, World App recorded 100K+ daily active users and 500K weekly active users. Monthly users have doubled in the last six months to 1 million.

Tools for Technology (TFT), the development and management team behind World App, cited that active users have processed over 22 million transactions with the self-custodial wallet.

This growth is mostly due to the app’s recent update, which made transactions more scalable and cheaper for users.

Worldcoin Utilities Broadens Amidst Global Scrutiny

After three years in the testnet and development stages, Worldcoin officially launched on July 24, 2023.

Co-founded by OpenAI CEO Sam Altman, the platform announced its plans to provide users with a verified digital identity, crypto token, and a robust wallet app.

The announcement of the digital ID platform sent waves of criticism from crypto enthusiasts and major decentralized finance (DeFi) players.

Jack Dorsey, the ex-CEO of Twitter (now X), downplayed the platform goals as vulnerable and unattainable.

Yan, the co-founder of Swan’s crypto investment platform, also iterated that the idea of Worldcoin was geared toward a scam structure.

The digital identity platform scaled through early criticisms to provide intrinsic use cases for traders and investors.

On May 8, the platform introduced its first-ever crypto wallet, World App, designed to enable users to access and store its native crypto, WLD, and other Ethereum assets seamlessly through digital identity.

 

Source: Worldcoin Website

To maximize inclusivity, the digital ID platform enabled users to customize their wallet app to preferred languages and supported active smartphones (compatible with 98.2% of Androids and 94.5% of iPhones).

Worldcoin also made their app cost-effective through a Layer 1 and 2 gas fee structure.

While the mobile wallet functionalities are impressive, global scrutiny continues to fuel up from the government and regulators from the United Kingdom, France, Argentina, and Germany.

Kenya is the latest country to suspend the digital identity platform based on rising concerns about data collation practices via orbs.

Worldcoin uses the orbs device to enable users to scan their eyeballs (retinas) as a verification method before they can obtain a digital ID and earn WLD tokens as rewards.

The platform has iterated that it either deletes or securely encrypts users’ data and aims to protect and cooperate with regulatory authorities.



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