A recent private token sale has seen Sam Altman's World Network raise $135 million for its WLD token, with the investment coming from notable venture capital firms a16z and Bain Capital Crypto. The funds will be utilized to support the growth and development of the network. The WLD token has seen a 14% increase following the announcement.
This development comes on the heels of the project's introduction of in-app functionalities and the availability of the WLD token to users in the United States earlier this month. The team behind the project has expressed plans to meet the rising demand for Orb-verified World IDs and expand the network across the US and beyond.
The $135 million sale of WLD tokens to early backers Andreessen Horowitz and Bain Capital Crypto has resulted in a corresponding increase in the circulating supply of WLD. Since its launch in July 2023, the WLD token has achieved a market capitalization of $1.87 billion and has seen a 55% increase over the last month, although it remains down approximately 75% from its all-time high. Previously, US users were unable to access the project's primary product, a bowling ball-shaped device known as Orbs that utilizes eyeball scans for identity verification.
Upon scanning, users can access the World app and receive an airdrop of the WLD token, which can then be used within the ecosystem. The project aims to provide access to Orbs for 180 million Americans, over half of the country's population, by the end of the year.