Worldcoin Secures $135 Million Funding Led by Andreessen Horowitz Bain Capital Crypto

World Assets, a subsidiary of the World Foundation, has successfully secured $135 million through the sale of its WLD tokens. This substantial funding round was spearheaded by leading venture capital firms Andreessen Horowitz and Bain Capital Crypto, with additional backing from Selini Capital and Arctic Digital. The tokens were sold at current market prices, reflecting a strong vote of confidence in the project's future prospects.

The funds raised will be pivotal in advancing Worldcoin's mission to develop a digitally verified biometric ID system. Despite encountering regulatory hurdles and limitations in certain areas, Worldcoin remains steadfast in its goal of collecting biometric data and issuing World ID. The project is strategically focusing on the US market, continuing its efforts with Orb-verified IDs. This funding round is the largest to date for World Network, which has previously raised $240 million through two undisclosed rounds and one Series C round. The sale of WLD tokens will increase the maximum supply, with all tokens now unlocked and in circulation.

Worldcoin, founded by OpenAI CEO Sam Altman, is also gearing up for the rapid evolution of AI. The World Foundation aims to create tools that can differentiate between humans and machines, preparing for the advent of Artificial General Intelligence (AGI). The funding will provide long-term support, with the company aiming to achieve self-sufficiency through protocol fees in the future. Currently, the network has accumulated 26 million registered users across 160 countries. Worldchain, the operational layer of Worldcoin, functions as a partially centralized L2 chain based on Ethereum. It is considered centralized due to its limited number of challenger nodes and is primarily focused on the creation and verification of personhood ID.

The funding round has reignited interest in the WLD token, which has traded closer to its higher range over the past three months. The token recovered to $1.22, although it remains far from its 2021 peak above $11. Analysts predict that if the 2025 bull market continues, the token could potentially break out above $3. However, the project may face dilution after the latest funding round. Despite being one of the major projects in the crypto space, World Network does not currently offer DeFi or other applications, limiting the utility of the WLD token. The project has a market cap of $1.8 billion, but based on funding rounds, it is valued at $3 billion. Worldcoin has demonstrated its ability to attract significant investment but has yet to fully leverage the reputation of its founder, Sam Altman. The project continues to spark debate within the crypto community, with some viewing it as a groundbreaking step in personhood ID verification, while others see it as a gimmick to boost the token's price.