Worldcoin (CRYPTO:WLD), a digital identity project, is set to boost the supply of its WLD token by up to 19% in the next half-year through private sales to non-U.S. institutions, aiming to raise approximately $197 million.
World Assets, a subsidiary of the Worldcoin Foundation overseeing token issuance, will sell 1.5 million WLD tokens per week, totaling 36 million new tokens entering the market over the six-month period.
This move marks an 18.6% increase in the total available supply, raising concerns about potential impacts on token prices despite negotiations to align private placements with prevailing market rates.
Founded by figures including OpenAI CEO Sam Altman, Worldcoin positions itself as a solution to identity challenges posed by AI advancement and advocates a novel universal basic income model via its native WLD token.
Despite experiencing a 435% surge from launch to a peak of $11.74 in March, Worldcoin has since seen its price plummet by over 53%, currently trading at $5.49.