Sam Altman’s World Foundation has completed a $65 million over-the-counter sale of its WLD token as the asset trades near historic lows.
The transaction was executed through the project’s token issuance arm, World Assets, and involved four counterparties over the past week.
The first tranche of the deal was confirmed to have settled on 20 March, marking the beginning of the distribution process.
The tokens were sold at an average price of approximately $0.27, indicating that roughly 239 million WLD tokens were transferred.
"This sale funds the project’s core operations and activities, R&D, orb manufacturing, ecosystem development, and more,"
World Foundation said.
Of the total tokens sold, $25 million worth will remain locked for six months, while the remaining supply was made immediately available in the market.
Following the announcement, WLD briefly dropped to a new all-time low of around $0.24 before stabilising near the $0.27 level.
The token remains significantly down, having lost approximately 97% of its value from its peak of $11.82 recorded in March 2024.
Current trading levels hover around $0.2725, showing only a marginal daily increase based on latest market data.
Additional downward pressure could emerge as a major token unlock is scheduled for 23 July, releasing about 52.5% of the total 10 billion token supply.
Market participants are closely watching this upcoming event, as increased circulating supply may influence price stability.
The latest sale also reflects a steep discount compared to previous funding rounds conducted by the project.
In May last year, the company raised $135 million at a much higher valuation of approximately $1.13 per token.
That earlier round attracted major investors, including Andreessen Horowitz and Bain Capital Crypto, signalling strong initial backing.
Regulatory scrutiny has also intensified around the project’s operations in various jurisdictions.
Authorities in Thailand conducted a raid in October on an iris-scanning site linked to the project, citing potential violations of digital asset regulations.
The country’s Securities and Exchange Commission, alongside the Cyber Crime Investigation Bureau, reported that the operation may have been running without proper licensing.
The enforcement action resulted in arrests and an ongoing investigation into the platform’s activities.
The incident adds to a broader pattern of regulatory challenges faced by the project since its launch in 2023.
Governments in Indonesia, Germany, Kenya, and Brazil have raised concerns related to licensing compliance and the handling of sensitive biometric data.
These developments continue to shape investor sentiment as the project navigates both market and regulatory pressures.