Worldcoin to Increase WLD Supply by 19% in 6 Months Via Institutional Sales

Worldcoin will increase its supply of WLD tokens by up to 19% in the coming six months as it sells to non-US institutions.

World Assets, the subsidiary of the Worldcoin Foundation in charge of token issuance, will sell 0.5 million to 1.5 million WLD ($8.2 million) every week through "private placements to a select group of institutional trading firms operating outside of the US."

"World Assets expects to sell between 0.5M and 1.5M WLD per week on average (which is less than 0.1% to 0.4% of the current weekly trading volume), and the circulating supply of WLD will thus increase correspondingly," Worldcoin explained.

This equates to a supply increase of 36 million new tokens ($197 million) over the six months. There is currently a circulating supply of 193 million WLD tokens.

Worldcoin currently has a market capitalization but has a fully diluted value of $54.5 billion if its total tokens were to circulate.

The project added that World Assets will negotiate with trading firms that are in competition with each other to execute the private placements "at prices as close to the prevailing market prices for WLD as possible."

Worldcoin’s Wild Ride: The Altman Effect in Full Swing

The WLD token has been on a tear over the past week, rising by 140% in the past week to over $6 currently, with a market cap of around $815 million.

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