World Foundation’s Token Sale Drives WLD Price to New Lows
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In a significant downturn for the WLD token, the World Foundation has recently concluded a substantial sale, resulting in a drastic drop in market valuation. The biometric identity platform, which has faced ongoing scrutiny, is now at a critical juncture.
Last Saturday, World Foundation revealed that its subsidiary, World Assets, executed an over-the-counter transaction involving $65 million worth of WLD tokens. This sale took place over the course of a week, divided among four buyers, with the first transaction settled on March 20.
The average price for these tokens in the sale was approximately $0.27, which translates to around 239 million WLD being sold. This figure starkly contrasts with the $1.13 price per token achieved during a fundraising round in May 2024, which saw $135 million raised from notable investors like Andreessen Horowitz and Bain Capital Crypto.
Data indicates a remarkable 76% decrease from the previous sale price. World Foundation explained that the revenue generated from this latest transaction will support essential operations, including research and development, orb manufacturing, and efforts to enhance the ecosystem.
Of the total sale, about $25 million worth of tokens are bound by a six-month lockup period, while the remainder is immediately available for trading, raising concerns about potential further downward pressure on prices.
Following the announcement of the sale, WLD briefly fell to an all-time low of $0.24 before recovering to around $0.27. This current value signifies a staggering decline of approximately 97% from its peak of $11.82 reached in March 2024.
As of the latest update, WLD was priced at $0.2725, reflecting a marginal increase of just 0.27% over the last day. However, the future may bring additional challenges for the token.
Data from DefiLlama indicates that a significant token unlock is scheduled for July 23, which will release roughly 52% of WLD’s total supply of 10 billion tokens. Such an influx could exacerbate selling pressure, especially as the token is already trading near its historical lows.
The World Foundation has also been dealing with various regulatory issues internationally. In Indonesia, for instance, World ID registration has been suspended due to compliance issues, while Brazil has prohibited the platform’s iris-scanning operations. Similar investigations are underway in Germany and Kenya, intensifying the scrutiny on the project.
The combined effects of regulatory pressures and the recent token sale are shaping a precarious future for World Foundation and its WLD token, leaving many to speculate about what lies ahead.
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Gregory Russell
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