Worldcoin Secures $135M Investment from a16z and Bain Capital
Sam Altman's Worldcoin project receives significant funding to expand its network and increase Orb accessibility.
Worldcoin Lands $135M Investment
Worldcoin, the blockchain project spearheaded by Sam Altman, has successfully raised $135 million in a private token sale of its WLD token. The investors include venture capital giants Andreessen Horowitz (a16z) and Bain Capital Crypto.
This funding is earmarked for expanding the Worldcoin network and increasing the availability of its key technology, the Orb, particularly within the United States.
WLD Token Reacts
The WLD token experienced a 14% increase following the announcement. This investment arrives as Worldcoin expands its in-app functionalities and makes the WLD token accessible to U.S. users.
World Assets, Ltd., a World Foundation subsidiary, stated that the sale of WLD at market prices to early backers (a16z and Bain Capital Crypto) aims to meet the rising demand for Orb-verified World IDs and support global network expansion. The circulating supply of WLD has increased accordingly.
Worldcoin's Ambitions
Launched in July 2023, the WLD token boasts a market capitalization of $1.87 billion, reflecting a 55% increase in the past month. However, the token remains approximately 75% below its all-time high.
Previously unavailable to U.S. users, Worldcoin's core product, the Orb (a device scanning irises for identity verification), is now accessible. Users who undergo the scan gain access to the World app and receive a WLD token airdrop, usable within Worldcoin's ecosystem of mini-apps.
Altman's ambition is to provide 180 million Americans with access to Orbs by the end of the year, which is more than half of the population.
Key Takeaways:
- Worldcoin secures $135M investment from a16z and Bain Capital Crypto.
- Funding will fuel network expansion, particularly in the U.S.
- WLD token experiences a price surge following the announcement.
- Orbs are now accessible to U.S. users, allowing for WLD airdrops and participation in the Worldcoin ecosystem.
- Altman hopes to get Orbs to over half the United States population by year end.
Investment Considerations
As always, investors should consider their risk tolerance and investment timeline before making allocation decisions. Bitcoin remains a volatile asset despite increasing institutional adoption.
This article is for informational purposes only and should not be considered investment advice. Always consult with a qualified financial advisor.