The Worldcoin (WLD) cryptocurrency project is reportedly planning to secure up to $50 million via a discounted token sale.

The project, co-founded by OpenAI’s Sam Altman, will offer WLD tokens at a suggested price of $1, according to BitKe. This presents a significant markdown from the current $2.51.

Tools for Humanity, the principal developer firm behind Worldcoin, is overseeing the sale.

Discounted token sale

In October, Worldcoin faced suspension in Kenya as numerous individuals gathered at various locations to register and undergo eye scans in return for 25 WLD tokens, equivalent to approximately Ksh7,700 ($54.60) at that time. 

The project came under scrutiny for allegedly collecting data from locals without proper licensing from authorities. Despite this, the program witnessed participation from over 2.5 million individuals globally.

Tools For Humanity (TFH) has initiated discussions with investors to potentially raise additional funds through the sale of WLD tokens.

Recent talks suggest TFH is exploring an over-the-counter sale of WLD, aiming to secure up to $50 million. The proposed token price is $1 for WLD, a considerable discount compared to the current spot price of $2.50.

Worldcoin utilizes WLD as an incentive to drive user engagement in the protocol, rewarding individuals with tokens for undergoing eye scans. The token officially launched on July 24, 2023, with an initial eligibility of over 2 million people to receive their allocation.

The project has unveiled plans to decentralize the network and introduced an inaugural grants program designed to support developers.

In its latest funding round, a Series C investment totaling $115 million was led by Blockchain Capital, with additional support from FT Partners. TFH has notable inve

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Author: Ogwu Osaemezu Emmanuel

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