- Worldcoin to increase WLD token supply by 19% in six months.
- Weekly private sales of up to 1.5 million WLD to institutional investors.
- Worldcoin’s market cap at $1 billion, with potential FDV of $54.5 billion.
Worldcoin
On April 23, Worldcoin published a blog post revealing that World Assets, a branch of the Worldcoin Foundation that issues tokens, intends to conduct weekly sales of up to 1.5 million WLD, valued at roughly $8.2 million, to a carefully chosen group of institutional investors located outside the US. Worldcoin has indicated that the total supply of WLD will grow in line with the planned sales by World Assets, which range from 500,000 to 1.5 million WLD each week.
Restricting Possible Impact on Token’s Price
CoinMarketCap data shows that the current market capitalization of WLD tokens stands at about $197 million. If World Assets proceeds with the planned weekly addition of 1.5 million tokens over six months, the market will see an influx of 36 million new tokens.
The private transactions over this period have led to an 18.6% increase in the total available supply of WLD tokens, with the circulating supply now at 194 million.
Worldcoin has stated its intention to mitigate any potential impact on the token’s market price by engaging with individual trading firms, especially those in competitive markets, to execute these private sales at prices that are as close to the current market rates of WLD as possible.
Currently, Worldcoin boasts a market capitalization of $1 billion. However, this figure is modest in comparison to the fully diluted value (FDV) of the tokens, which would be $54.5 billion if all tokens were in circulation.
Worldcoin users authenticate their identities through the “World App” by scanning their eyes using devices called “Orbs.” Users receive approximately 25 Worldcoin (WLD) in exchange for their biometric data.
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