Worldcoin, a project backed by OpenAI CEO Sam Altman, has launched a $5 million grant program called "Wave0" to support innovators in blockchain technology.

The grants, to be distributed by the Worldcoin Foundation, aim to develop resilient technology and more equitable systems, with a focus on improvements in World ID applications, protocol, and hardware.

The Wave0 program announced that it will disburse grants in WLD tokens across three tracks: community grants (up to 5,000 WLD), project grants (up to 25,000 WLD), and open track grants with flexible budgets for significant projects.

Worldcoin plans to expand its ID verification platform to businesses and governments, even as regulatory investigations in France and Germany examine its data collection practices.