In a recent update on the Worldcoin blog, it has been disclosed that World Assets Ltd., a subsidiary of the Worldcoin Foundation, intends to sell WLD tokens from the World Assets treasury to meet the increasing demand for orb-verified World IDs and to bolster the expansion of the Worldcoin network.
The majority of the 193 million currently in circulation WLD tokens have been acquired by over 5 million individuals with orb-verified World IDs and through user grants across more than 160 countries. To facilitate the sale of WLD tokens, World Assets will be engaging in private placements with specific institutional trading firms that operate beyond the borders of the United States.
These private placements are set to span a duration of up to 6 months and will incorporate measures to prevent the circulation of WLD tokens sold outside the US from re-entering the country. For example, participating trading firms will be prohibited from reselling WLD tokens to individuals or on digital asset trading platforms accessible to US citizens. Moreover, there is a possibility of implementing a 40-day lock-up period to restrict the resale of WLD tokens by trading firms, contingent on legal and commercial considerations.
World Assets aims to engage with multiple trading firms, fostering competition among them to ensure the successful execution of private placements at prices closely aligned with prevailing market rates for WLD tokens, while taking into account the aforementioned restrictions.
Given the current market conditions, World Assets foresees the sale of an average of between 0.5 million and 1.5 million WLD tokens per week. This amount represents less than 0.1% to 0.4% of the weekly trading volume, resulting in a corresponding increase in the circulating supply of WLD tokens.
It is crucial to acknowledge that World Assets reserves the right to make adjustments to the outlined plans, and readers are advised to consult the Disclaimer provided in the Worldcoin Whitepaper for further information. Furthermore, involvement with crypto products like WLD tokens carries inherent risks, and individuals are encouraged to review the Important User Information accessible on the Worldcoin website.
Please note that the availability of Worldcoin (WLD) tokens is restricted to specific regions and is not intended for individuals, businesses, or organizations situated in the United States or other restricted territories. Nonetheless, World ID, TFH’s World App, and other related functionalities within the Worldcoin ecosystem remain accessible in the United States.
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