Wall Street tech analyst and Eightco Holdings Inc. ORBS Chair Dan Ives reiterated on Monday his belief in the World Network’s (WLD) potential to become the leading authentication technology in the AI revolution.
AI Meets Crypto
During an interaction with stock market commentator Amit Kukreja, Ives viewed the Sam Altman-founded initiative as more of an infrastructure tech play than a cryptocurrency play, predicting it to become the “single sign-on for AI” in the future.
“To me, it’s really like when I look out into the future between bots, robotic, you need human proof. This is really like an AI meets crypto intersection. And that’s why I’m so excited to be a part of it,” Ives added.
Ives Compares Project To Tesla, Nvidia
The Wedbush Securities analyst said the identity verification project is “many years ahead” of any other competition and similar to how he viewed tech titans like Tesla Inc. TSLA, NVIDIA Corp. NVDA and Palantir Technologies Inc. PLTR in their early days,
See Also: Dan Ives Hikes Apple Price Target To $310, Says ‘Positively Surprised’ On Demand Trajectory For iPhone 17
Ives Dismisses Privacy Concerns
Ives defended World Network against privacy concerns.
“It’s actually the most privacy-driven solution there is out there because when you get your eyes scanned, it’s literally in the Orb for 20 seconds and then it goes to your phone in your World app,” he said. “It’s actually the opposite. You have control of your data. It’s decentralized.”
Ives’ optimism follows his appointment as chairman of Eightco, a firm that has adopted World Network’s native token, WLD, as its primary reserve asset. Tom Lee-led Bitmine Immersion Technologies Inc. BMNR also disclosed a $20 million investment into the company.
World is an identity verification project that captures people’s irises to confirm their humanness and build a digital ID, allowing them to receive free WLD tokens.
However, this approach has led to personal data privacy concerns. The project is currently outlawed in Hong Kong, Kenya and Spain.
Price Action: At the time of writing, WLD was exchanging hands at $1.36, down 4.52% in the last 24 hours, according to data from Benzinga Pro. The coin has surged 37% over the last month.
Eightco shares dipped 0.08% in after-hours trading after closing 6.18% lower at $12.00 during Monday’s regular trading session.
According to Benzinga’s Edge Stock Rankings, the stock was in a downward trend over the short, medium and long term. Here’s how it ranks in other metrics as of this writing.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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