Sam Altman’s World sells 239 million WLD through OTC deals with partial lockup

Blockonomics
Sam Altman’s World sells 239 million WLD through OTC deals with partial lockup
Coinbase

World Foundation’s Subsidiary Completes $65 Million WLD Token Sale

World Foundation, the non-profit organization behind the biometric identity verification protocol previously known as Worldcoin, announced today that its subsidiary has finalized the sale of approximately $65 million in WLD tokens through a series of over-the-counter transactions with four counterparties over the past week.

The unit responsible for token issuance and distribution, World Assets, Ltd., sold around 239 million WLD tokens based on the disclosed average price.

Out of the $65 million raised, $25 million in tokens are locked up for six months to prevent immediate selling by buyers, as explained by the team.

The initial settlement took place on March 20, and the remaining transfers were carried out from a designated World Assets multisig wallet. The funds are allocated for core operations, research and development, manufacturing of the project’s iris-scanning Orb devices, and ecosystem expansion.

This disclosure follows a report from blockchain analytics firm Lookonchain, which stated that World sold 117 million WLD tokens worth $39 million through OTC trades last week.

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At the time of reporting, WLD was trading at around $0.27, showing a 13.5% decrease over the past week, according to CoinGecko data. The token reached its peak at $11.7 in March 2024.

Eightco Holdings, backed by Tom Lee, is the largest publicly traded holder of WLD, controlling 277 million tokens as of March 20.

Established in 2019 by Sam Altman, Alex Blania, and Max Novendstern, Worldcoin integrates biometric identity verification with cryptocurrency to introduce a global proof-of-personhood system.

The ecosystem includes the Orb-based World ID, the WLD token, the World App wallet, and the World Chain layer 2 network.

World ID has authenticated nearly 18 million unique individuals, with close to 39 million World App users. The network spans over 160 countries, supported by 948 active Orbs, and has seen growth with over 60,000 new accounts and 16,000 verifications in the past week.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.
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