Worldcoin Sells 239 Million WLD Tokens via OTC Deals to Fund Expansion

• World Foundation sold 239 million WLD tokens in over-the-counter (OTC) deals, raising $65 million to fund operations, R&D, and expansion.

• The transaction included a six-month lockup period for 25% of the tokens to prevent immediate selling by buyers.

• The proceeds will be used for core operations, development, of the biometric verification Orb devices, and ecosystem growth.

World Foundation, a non-profit entity managing the biometric verification protocol formerly known as Worldcoin, completed a $65 million token sale over the past week. The deal was executed through four counterparties using OTC transactions, with the first settlement occurring on March 20. This raises $25 million in tokens to be locked up for six months, ensuring stability in the market.

The funds are earmarked for core operations, research and development, the production of Worldcoin's biometric Orb devices, and ecosystem expansion. This development follows a previous report from blockchain analytics firm Lookonchain, which noted that World offloaded 117 million WLD tokens valued at $39 million via OTC trades.

Worldcoin continues to expand its proof-of-personhood system through the use of the Orb, a hardware device that scans biometric data to verify human identities. The system issues a unique World ID, ensuring that each individual is uniquely identified without exposing personal data.

What is the significance of the token sale for Worldcoin's ecosystem?

The $65 million raised through the OTC sale provides a critical funding boost for World Foundation. These funds will be used for core operations and the continued deployment of Orb devices globally. With nearly 18 million unique humans verified and close to 39 million World App users, the project remains active across 160-plus countries. The ecosystem is supported by 948 active Orbs and has seen over 60,000 new accounts and 16,000 verifications in the past week.

How does the token lockup impact market stability?

The lockup of 25% of the tokens ensures that a significant portion of the sold WLD is not immediately available for trading, reducing market volatility. This measure is designed to protect both the token's price and investor confidence. The decision to lock up a portion of the tokens reflects a strategic move to manage supply and demand dynamics.

Who are the key stakeholders in the WLD token market?

Eightco Holdings, a publicly traded entity, is the largest holder of WLD tokens, controlling 277 million tokens as of March 20. This stake represents a substantial influence on the token's market activity and future price movements.

Worldcoin's ecosystem includes the Orb-based World ID, the WLD token, the World App wallet, and the World Chain layer 2 network. The project's mission to create a decentralized proof-of-personhood system is supported by its global expansion and continued verification efforts.