Worldcoin (WLD) Plans Discounted Token Sale to Raise Up to $50 Million

Sam Altman of OpenAI co-founded the cryptocurrency project Worldcoin, which is apparently preparing for a discounted token sale to raise up to $50 million. The initiative, which is headed by Tools for Humanity, the major developer, intends to sell WLD tokens for $1, a significant discount from the $2.51 market price.

When Worldcoin gave 25 WLD tokens to anybody who had their eyes scanned in October, it caused stir in Kenya. Over 2.5 million people participated in the experiment worldwide, however it was criticized for allegedly collecting data without the necessary license. Despite the difficulties, Tools for Humanity is now investigating the possibility of selling WLD tokens over-the-counter with a goal of raising $50 million at a $1 token price.

Worldcoin’s Incentive Mechanism and Recent Developments

In order to compensate users for having their eyes scanned as part of its own digital identity system, Worldcoin uses WLD tokens. When the concept was first introduced on July 24, 2023, more than 2 million people were assigned to get tokens. Worldcoin has revealed its intentions to decentralize its network and launched an initiative to provide rewards to developers.

Tools for Humanity just secured $115 million in a Series C fundraising round, led by Blockchain Capital. Worldcoin wants to create an advanced biometric verification-based digital identification system. CEO Alex Blania hopes to further the idea of “proof of personhood” by giving each user a unique World ID.

In spite of criticism over data privacy, Worldcoin unveiled an awards program in which money would be given out in WLD tokens. Three tracks within the Worldcoin Tech Tree comprise the program, which supports major projects, community activities, and a $5 million grant effort called “Wave0.” These awards demonstrate Worldcoin’s dedication to building a strong community and using creative projects to address global issues.

Worldcoin is taking a novel approach to addressing issues with artificial intelligence and human differentiation with its endeavors to incorporate biometric verification into its digital identification system. The project’s dedication to community growth is emphasized by the awards program, which focuses on topics including biometrics, privacy, and apps that use World ID. Worldcoin continues to be at the forefront of technical innovation as the reduced token sale takes place, hoping to significantly contribute to the global blockchain ecosystem.