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The World Foundation, which supports the company World, formerly known as Worldcoin, has completed an over-the-counter sale of 226.4 million WLD tokens for a total of $65 million.
Over the past week, the foundation’s subsidiary, World Assets, finalized significant transactions with four private counterparties. The settlements for these transactions commenced on March 20, with the average purchase price of the token being $0.2719. Additionally, World Assets deposited 35.8 million USDC stablecoins into Circle’s account for fund withdrawal, as revealed by analysts from Lookonchain.
The World Foundation stated that the proceeds from the WLD sale will be utilized to cover operational expenses. This includes funding for research and development, ecosystem growth, and the production of Orbs equipment designed for iris scanning. To avoid negatively impacting the secondary market, a portion of the sold WLD tokens worth $25 million is planned to be locked for six months, meaning these tokens will not be traded in the market until the end of September.
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Lookonchain analysts emphasized that over the past two years, the World project has consistently sold WLD tokens through well-known market makers, including Flow Traders and Wintermute, creating a persistent oversupply in the market.
The recent over-the-counter token sale coincides with a decline in WLD’s value. Over the week, the token decreased by 13%, reaching $0.2722. This is 97.7% lower than its all-time high of $11.8, which was achieved in March 2024. Currently, the market capitalization of WLD stands at $845 million.
In several countries, the World project continues to face pressure from authorities concerned that the company may be violating user privacy by extensively collecting and storing biometric data (specifically, iris scans). Last year, Thailand’s Personal Data Protection Commission (PDPC) demanded that World delete biometric data belonging to 1.2 million residents of the country.
