Worlds WLD Token Drops 26 Percent Despite New World Chat Launch
1min read World, formerly known as Worldcoin, has introduced World Chat, a new messaging tool integrated into the World App. This "Mini App" allows users to send messages and transact crypto within the World Network, enhancing communication and digital transactions. Mini Apps are lightweight web-based applications integrated within the World App, giving developers access to a global user base of over 24 million, including 11.3 million verified users.
The chat function is linked to World ID and the World App wallet, allowing users to verify whether they are engaging with real people. This system helps reduce bot-driven spam and fraudulent interactions, making online conversations more trustworthy. Verified users enjoy an added layer of trust—conversations with them display blue chat bubbles and a World ID gem in the upper right corner. In contrast, chats with non-verified accounts appear in grey bubbles without the gem. World Chat is currently in beta mode and provides users with end-to-end encryption that ensures secure conversations across the network. Developers can incorporate World Chat into their Mini Apps to enable seamless messaging and friend invitations directly through the World App, encouraging interaction and enhancing user engagement.
Despite the introduction of World Chat, World’s native token, wld, has recently fallen below the $1 mark. Data shows that WLD dropped over 26% in the past month, hitting $0.8813 on March 4. While it has since rebounded slightly to $0.95766, the token remains down more than 90% from its peak of $11 in March 2024. This price struggle is surprising considering the continued expansion and growth of World to new countries. In January, the project announced that it had verified over 10 million people on its digital identity network.
Regulatory scrutiny remains a significant challenge. Over the past year, authorities in several countries have raised concerns over World’s compliance with privacy laws, questioning how the crypto project collects and manages users’ biometric data. Despite these complaints, World maintains that it adheres to all regulations in its operating regions. The regulatory environment and market sentiment play crucial roles in determining the success of such initiatives, and in this case, they seem to be working against the WLD token.
The decline in the WLD token's value raises questions about the effectiveness of new features in driving token adoption and value appreciation. While World Chat represents a significant development for the platform, it 