World’s WLD token trades at an all-time low despite introduction of new messaging feature

World (formerly known as Worldcoin) has unveiled World Chat, a new messaging tool integrated into the World App.

According to a March 6 announcement, 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. These applications give developers access to a global user base of over 24 million, including 11.3 million verified users.

World Chat

The chat function is linked to World ID and the World App wallet, allowing users to verify whether they are engaging with real people.

The system helps reduce bot-driven spam and fraudulent interactions, making online conversations more trustworthy. Meanwhile, users who haven’t undergone World’s verification processes can still use World Chat.

However, 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.

World stated that developers can incorporate World Chat into their Mini Apps to enable seamless messaging and friend invitations directly through the World App. This integration encourages interaction and enhances user engagement.

WLD’s value sinks

The launch of World Chat comes at a particularly challenging time for World’s native token, WLD, which recently fell below the $1 mark.

Data from CryptoSlate 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.

WLD’s 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.

However, regulatory scrutiny remains a significant challenge. Over the past year, authorities in several countries, including Kenya, Germany, South Korea, Spain, and Hong Kong, 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.

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