Worldcoin, led by Sam Altman, has announced plans to increase the supply of its WLD tokens by up to 19% over the next six months. This will be done through a series of private sales to institutions outside the US. In a blog post, Worldcoin revealed that its division, World Assets, will sell up to 1.5 million WLD tokens, worth approximately $8.2 million, on a weekly basis to a select group of institutional trading firms. The available supply of WLD will increase in line with these projected weekly sales.
To ensure that the token’s price is not significantly affected, Worldcoin will work with individual trading companies to conduct private placements at prevailing market prices. Currently, the market value of WLD tokens stands at around $197 million, and a six-month supply increase of 1.5 million tokens per week would mean an additional 36 million tokens entering the market. This would result in the total circulating supply of WLD tokens increasing by 18.6% to 194 million.
Despite Worldcoin’s market valuation of $1 billion, the fully diluted value of the tokens, if all were in circulation, is $54.5 billion. Worldcoin users verify their identities using the “World App” by scanning their retinas at what the company refers to as “Orbs.” In exchange for their biometric data, users receive around 25 WLD tokens.
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