Worldcoin to Ramp Up WLD Token Supply by Up to 19% in Six Months

Worldcoin, the digital identity project, has announced plans to significantly increase the supply of its WLD token over the next six months through a series of private sales to institutional trading firms located outside the United States.

According to a blog post published on April 23, World Assets, a subsidiary of the Worldcoin Foundation responsible for token issuance, will conduct weekly private placements, offering up to 1.5 million WLD tokens, valued at approximately $8.2 million each week, to selected institutional trading firms.

The move is expected to lead to a substantial increase in the circulating supply of WLD tokens. Over the six-month period, this initiative could introduce up to 36 million new tokens into the market, with a total value of around $197 million based on CoinGecko data.

This increase represents an 18.6% expansion in the total available supply of WLD tokens, considering the current circulating supply of 193 million tokens.

Worldcoin emphasized its commitment to negotiating with individual trading firms to ensure that private placements are executed at prices close to the prevailing market rates, aiming to minimize potential price impact on the token.

Despite a current market capitalization of $1 billion, Worldcoin’s fully diluted value (FDV) stands at $54.5 billion, reflecting the theoretical value if all tokens were in circulation.

Founded by Sam Altman, Alex Blania, and Max Novendstern, Worldcoin aims to address identity challenges posed by AI advancements and introduce a unique universal basic income model through its native WLD token.

The project allows users to register their identity via the “World App” by scanning their retinas at designated “Orbs” machines. In exchange for biometric data, users receive approximately 25 Worldcoin, valued at around $137.

While Worldcoin experienced significant growth following its launch in July 2023, with prices surging 435% from $2.17 to $11.74 by March 10, recent weeks have seen a decline of over 53% from its peak, with the token currently trading at $5.49.