Sam Altman’s World Foundation has successfully sold $65 million worth of WLD tokens through over-the-counter transactions, and now the WLD token has fallen to a record low, with the token having fallen 97% from its peak.
WLD refers to the native token of the WorldCoin project, which was launched in 2019 by Sam Altman in conjunction with other investors or institutions and aims to confirm the real human identity of users through iris recognition.
The main goal of the project is to build a global identity and financial network owned by humans to solve the dilemma of the AI era: how to distinguish real humans from artificial intelligence or humans pretending to be artificial intelligence.
Therefore, the WorldCoin project uses an iris recognition mechanism to ensure that one person has one account and prohibits one person from having multiple accounts. After successful verification, a certain number of WLD tokens can also be obtained as economic rewards.
The World Foundation recently stated on the X/Twitter platform that its token issuance department has completed sales to four counterparties, and the first batch of transactions has been completed on March 20, with the average transaction price of $0.27 per token.
In terms of unit price and total price, this round of OTC World Foundation sold approximately 239 million WLD tokens. Stimulated by the bad news, the WLD token once fell to $0.24.
In March 2024, the WLD token price reached $11.82, which means that the current price has dropped 97% from the peak price, and there will be greater selling pressure later: the community token will be unlocked on a large scale on July 23.
Community tokens account for 52.5% of WLD’s 10 billion supply, so a large number of users are bound to sell tokens after unlocking, which will create greater selling pressure on the market, so WLD may continue to plummet.
The World Foundation's choice to sell tokens at this time should also be to obtain part of the income while maintaining the price. Otherwise, the income from the same number of tokens may be discounted after another plunge.