Worldcoin Foundation’s subsidiary, World Assets Ltd., intends to address the rising demand for orb-verified World IDs and support the expansion of the Worldcoin network by selling WLD tokens. These sales will be executed through private placements with trading firms located outside the US, with measures implemented to prevent the resale of tokens to US individuals. This move will lead to an increase in the circulating supply of WLD tokens.
In a recent update posted on the Worldcoin blog, it was disclosed that World Assets Ltd., a subsidiary of the Worldcoin Foundation, plans to sell WLD tokens from its treasury to cater to the increasing demand for orb-verified World IDs and to aid in the growth of the Worldcoin network.
The majority of the current circulating supply of 193 million WLD tokens has been distributed to over 5 million individuals with orb-verified World IDs and through user grants across more than 160 countries. To facilitate the sale of WLD tokens, World Assets will conduct private placements with selected institutional trading firms operating outside the United States.
These private placements will span up to six months and will incorporate measures to prevent the flow of WLD tokens sold outside the US back into the country. For instance, participating trading firms will be prohibited from reselling WLD tokens to individuals or on digital asset trading platforms accessible to US persons. Additionally, a 40-day lock-up period may be enforced to restrict the resale of WLD tokens by trading firms, subject to legal and commercial considerations.
World Assets aims to engage with multiple trading firms, fostering competition among them to ensure that private placements are executed at prices close to prevailing market rates for WLD tokens, while considering the aforementioned restrictions.
In the current market scenario, World Assets anticipates selling between 0.5 million and 1.5 million WLD tokens on average per week. This volume represents less than 0.1% to 0.4% of the weekly trading volume, resulting in a corresponding increase in the circulating supply of WLD tokens.
It is essential to acknowledge that World Assets may deviate from the outlined plans, and readers are advised to consult the Disclaimer provided in the Worldcoin Whitepaper for further information. Moreover, engaging with crypto products like WLD tokens entails inherent risks, and individuals are encouraged to review the Important User Information available on the Worldcoin website.
Please note that the availability of Worldcoin (WLD) tokens is limited to specific territories and is not intended for individuals, companies, or organizations situated in the United States or other restricted territories. Nevertheless, World ID, TFH’s World App, and other associated functionalities within the Worldcoin ecosystem remain accessible in the United States.
Source: blockchain.news
