Worldcoin Team Exploring $50 Million Token Sale at $1 Discount: Report

One of the development groups behind Sam Altman’s Worldcoin crypto project, Tools For Humanity (TFH), is reportedly in discussions with investors regarding a capital increase through the sale of WLD tokens.

In recent weeks, TFH reportedly conversed with several investors, exploring the possibility of an over-the-counter sale of WLD. According to sources familiar with the matter, the company aims to secure up to $50 million in funding. The insiders noted that WLD could be tabled at a potential token price of $1, a considerable markdown from the existing spot price of $2.51.

Notably, FT Partners, the fintech-focused investment bank based in San Francisco, is reportedly assisting in the fundraising, as stated by a third source familiar with the situation. Another individual knowledgeable about the deal mentioned that there has been robust demand from potential investors since the token’s launch. It was highlighted that standard lock-up terms would apply to any additional investments in WLD.

Meanwhile, when contacted regarding the development, a representative for Worldcoin chose not to provide comments. However, it is essential to note that no finalized terms have been confirmed, as emphasized by an individual close to the deal.

Worldcoin distinguishes itself as an identity-centric crypto project that utilizes orb devices to scan individuals’ irises, facilitating online identity verification. Sam Altman, the co-creator of Worldcoin, also serves as the CEO of OpenAI, the organization behind the widely successful generative AI tool ChatGPT. Altman recently faced and overcame a notable attempt by OpenAI’s board to remove him as CEO, but he regained control of the company on November 22.