Worldcoin Plans Discounted Token Sale to Raise $50 Million
The Worldcoin (WLD) cryptocurrency project, co-founded by Sam Altman of OpenAI, is looking to raise up to $50 million through a discounted token sale. The project will offer WLD tokens at a suggested price of $1, which is significantly lower than the current price of $2.51. Tools for Humanity, the developer firm behind Worldcoin, will oversee the sale.
Controversy and Global Participation
In October, Worldcoin faced suspension in Kenya due to allegations of collecting data without proper licensing. Despite this, over 2.5 million individuals globally participated in the program by registering and undergoing eye scans in exchange for 25 WLD tokens. Tools For Humanity (TFH) is now discussing potential additional fundraising through an over-the-counter sale of WLD tokens, aiming to secure up to $50 million.
Worldcoin’s Mission and Funding
Worldcoin aims to establish an advanced digital identity system using biometric verification methods such as facial and iris authentication. With $125 million raised since its inception in 2019, notable investors include Andreessen Horowitz and Khosla Ventures. The project has also introduced a grants program designed to support developers and decentralize the network.
Distribution of Grants in WLD Tokens
Worldcoin plans to distribute grants in WLD tokens across three tracks within the Worldcoin Tech Tree. The grants aim to support community initiatives, project development, and resilient technology on the Worldcoin blockchain. This initiative focuses on areas like privacy, biometrics, and applications leveraging World ID.
Hot Take: Worldcoin’s Discounted Token Sale and Ambitious Goals
The discounted token sale by Worldcoin presents an opportunity for investors to participate in the project at a lower price. With a goal of raising $50 million, the project aims to further its mission of establishing an advanced digital identity system and decentralizing the network. Despite facing controversies and scrutiny, Worldcoin has garnered significant participation globally and secured notable funding from prominent investors. By distributing grants in WLD tokens, Worldcoin seeks to empower innovative projects within its community, focusing on areas that contribute to its ecosystem’s growth. Overall, Worldcoin’s discounted token sale and ambitious goals reflect its commitment to advancing technology for social impact.
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