Worldcoin to Increase WLD Supply by 19% in 6 Months

Over the next six months, Worldcoin plans to increase its WLD token supply by up to 19% through private sales to international institutions.

Over the next six months, Worldcoin will carry out numerous private sales to international institutions, potentially raising its WLD token supply by as much as 19%.

On April 23, World Assets, a subsidiary of the Worldcoin Foundation in charge of token issuance, will sell up to 1.5 million WLD, or roughly $8.2 million, every week through a series of “private placements” to a select group of institutional trading firms located outside of the United States.

They issued a statement indicating that “World Assets anticipates selling between 0.5 million and 1.5 million WLD per week on average.” As a result, the amount of WLD that is now in circulation will increase proportionally.

According to the statistics provided by CoinGecko, an increase of up to 1.5 million WLD tokens every week for a period of six months would result in an increase in the supply of 36 million additional tokens entering the market. The current value of these tokens stands at approximately $197 million.

With a total quantity of 193 million WLD tokens now in circulation, the private sales constitute an 18.6% increase in the total supply that is available within the same time frame.

They stated that it would work with individual trading firms, particularly those who are involved in competition with one another, in order to conduct private placements that are as close to “prevailing WLD market prices” as feasible.

This would serve to limit the potential influence on the token’s price. The current market capitalization of WLD is one billion dollars, according to its current pricing. In contrast, this is a negligible amount when compared to its fully diluted value (FDV), which is $54.5 billion.

Worldcoin Founders and Token Value Potential

If all of the tokens were in circulation, this is their total value. Sam Altman, the CEO of OpenAI, Alex Blania, the current CEO of Worldcoin and Max Novendstern, who also serves as the CEO of the biometrics research firm Mana, were the founders of Worldcoin.

In July 2023, they launched the cryptocurrency out of beta. Built on cryptocurrencies, it offers a solution to identity problems arising from rapid advancements in artificial intelligence.

Additionally, it proposes to use its native WLD token to usher in a unique universal basic income model through the use of its native WLD token. Users of Worldcoin can verify their identities through the company’s “World App” by having their retinas scanned by machines referred to as “Orbs.

Consumers receive approximately 25 Worldcoin, equivalent to approximately $137 at the moment, in exchange for their biometric data. Worldcoin experienced a meteoric rise of 435% from its start price of $2.17 on July 24 to its all-time high of $11.74 on March 10.

A larger rally in the price of AI-linked cryptocurrency projects fueled this surge. In spite of this, its price has dropped by more than 53 percent from its all-time high over the course of the past several weeks, and it is presently trading at $5.49.