- The World Cooine Foundation announced that it sold its tokens to early investors of their tokens, including the A16Z and Ban Capital.
- The firm claims that the new capital will expand the reach of the world network in the US and other markets.
- The WLD is 7% above the announcement.
The WLD on Wednesday saw a 7% lead after an announcement by the World Foundation that it raised $ 135 million from tokens to expand its world network in the US and other areas.
The World Foundation plans to expand its network with a $ 135 million token sales.
World Assets, a subsidiary of the World Foundation, announced that it sold 117 million WLDs to the initial investors at the market price. It sold tokens to venture capital firms, including Andresen Horovitz (A16Z) and Bain Capital Crypto, which aims to strengthen and expand the world networks at the United States and international levels.
Income from sales will support the development of infrastructure for world ID-a digital identity solution designed to confirm a series on a person’s humanity.
The firm claims that the world network has more than 26 million users, and 12.5 million has created a world ID using the firm’s biometric device, arb to scan IRIS.
“To meet the growing demand for ORB-social IDs and support the expansion of the world network in the whole of America and beyond, world property, limited. […] The World Foundation said in a blog post, “The project’s two earliest backbacks, and $ 135M WLDs from Andresen Horovitz and Bain Capital Crypto.
The Foundation stated that sales are part of a long -term plan to “help prepare humanity for the AGI era” and make the world network one of the first “self -sufficient” protocols.
The World Foundation had earlier said that it would continue to sell its tokens to companies to raise money.
WorldCoine attracted focus on a large scale in 2024 for its biometric technology. However, it also attracted several legal investigation and restrictions in many countries over concerns about its data practices.
The use of IRIS scan and facial recognition to verify users in exchange for token awards has widely criticized, which has been criticized by regulators citing serious privacy and data security risks.
After the announcement, the WLD is 7% up, increasing its rally by about 50% in the previous month.
If the WorldCoin Foundation continues with the tendency of investors to unlock and sell the tokens, the increasing supply can weigh at the price of the WLD in the short term.
