Worldcoin, a project co-founded by Sam Altman of OpenAI, is reportedly planning a discounted token sale to raise $50 million. According to sources, the sale, managed by Tools for Humanity (TFH), the principal developer firm behind Worldcoin, will offer WLD tokens at $1 each, a notable markdown from their current market price of $2.51. This strategic pricing could attract many investors, potentially boosting the project’s capital inflow.
Worldcoin raises $125M for biometric blockchain
Since its inception, WLD has been a subject of both interest and controversy. The project, aiming to establish a unique digital identity system using biometric verification, was suspended in Kenya last October following allegations of improper data collection. Despite these challenges, Worldcoin has garnered attention worldwide, with over 2.5 million individuals participating globally. The initiative leverages eye scans to distribute WLD tokens, incentivizing user engagement.
Worldcoin launched its WLD token on July 24, 2023, with over 2 million people initially eligible for allocation. The project’s recent decision to decentralize and introduce a grants program underscores its commitment to growth and community engagement.
Since 2019, Worldcoin has raised $125 million, with notable backers including Andreessen Horowitz, Khosla Ventures, and Reid Hoffman. The latest Series C investment round, totaling $115 million, was led by Blockchain Capital and supported by FT Partners. It saw participation from prominent investors like a16z crypto, Bain Capital Crypto, Distributed Global, and Khosla Ventures. These funding rounds have been critical in supporting the development and expansion of Worldcoin’s unique proposition in the digital identity space.
The project, under CEO Alex Blania, has been developing for three years, focusing on the ‘proof of personhood’ concept. This approach could have significant economic implications in an era where distinguishing between humans and AI bots is increasingly challenging. The World ID system proposed by Worldcoin is a groundbreaking step in biometric authentication.
Worldcoin’s recent blog post detailed its plans to distribute grants in WLD tokens, with 2 million coins allocated across three tracks within the Worldcoin Tech Tree. The initiative is divided into community grants, project grants, and the “Wave0” program. These grants, ranging up to 25,000 WLD for substantial projects, aim to foster innovation in areas like privacy, biometrics, and applications of World ID.
This approach solidifies WLD’s commitment to its community and emphasizes the importance of technology in addressing global challenges such as income inequality and governance. By empowering creators and technologists, Worldcoin is positioning itself at the forefront of a movement that leverages blockchain technology for social good.
WLD’s discounted sale boosts expansion goals
WLD’s latest move to raise funds through a discounted token sale is a strategic step in its expansion. The success of this sale could significantly influence the project’s trajectory, providing the necessary capital for further development and implementation of its ambitious plans. Worldcoin’s focus on creating a robust, decentralized network and its commitment to addressing global challenges through technology positions it uniquely in the cryptocurrency and blockchain.
As the project navigates past controversies and moves towards a more decentralized and community-focused model, the outcome of this fundraising effort will be closely watched by investors and industry observers alike. Worldcoin’s ability to attract new investment in this token sale could be a testament to the market’s confidence in its vision and the potential impact of its technology on the future of digital identity and blockchain applications.
