Worldcoin (WLD) announced a $5 million grant program called “Wave0” aimed at innovators developing resilient technology and more equitable systems.
Backed by OpenAI CEO Sam Altman, the project will provide grants through the Worldcoin Foundation, a non-profit organization that supports WLD’s efforts.
According to a December 6 blog post, the grants would be disbursed in WLD tokens with 2 million coins allocated to three tracks under the so-called Worldcoin tech tree.
The first track, community grants, allocates up to 5,000 WLD for sponsorships, hackathons, and other similar initiatives. Project grants, the second track, aim to support large-scale projects with up to 25,000 WLD.
Open Track grants will focus on the largest and most ambitious projects. The track has no budget and will receive amounts on a case-by-case basis.
The Worldcoin Foundation may issue grants in Circle’s USD Coin (USDC) or similar stablecoins to ensure greater inclusion. Notably, the protocol stopped USDC payments to Orb traders in October 2023.
According to the announcement, the supported projects will advance the Worldcoin technology tree with improvements to World ID applications, protocol, user agents, hardware and operations.
Worldcoin also published an article on decentralization, outlining its strategy for a protocol supposedly owned and governed by the human race.
To be part of the global digital infrastructure, Worldcoin must be as robust, widespread and neutral as the Internet itself. Any lower standard is insufficient to effectively address the big challenges. This has been a priority from day one and much has already been achieved.
Worldcoin Wave0 Grant Blog Post
Worldcoin was launched in July 2023 under heavy scrutiny based on privacy concerns raised by cryptocurrency advocates. The protocol, which scans users’ irises and issues a biometric ID, created registration centers in several developing countries, leading many to question Worldcoin’s intentions.
Regulators in France and Germany opened an investigation into the project, reportedly probing its security and data collection systems. Worldcoin plans to extend its identity verification platform to businesses and governments despite pushback from skeptics.
