Worldcoin Secures $135 Million from Andreessen Horowitz and Bain Capital
Worldcoin's parent entity, the World Foundation, has sold $135 million worth of liquid WLD tokens to Andreessen Horowitz and Bain Capital Crypto. This direct purchase increases the circulating supply of WLD without any lock-ups or preferential terms.
Key Points
- The sale aims to fund the expansion of Worldcoin’s iris-scanning "Orb" hardware in the U.S. and meet growing demand abroad.
- Over 26 million users are on the World network, with more than 12.5 million holding Orb-verified World IDs.
- Andreessen Horowitz previously invested in Tools for Humanity, the company behind Worldcoin, during its 2021 Series A funding.
- Market reactions highlight the significance of this transaction, occurring after a nearly 90% price decline in the past 14 months.
- The foundation asserts that identity verification must evolve alongside artificial general intelligence developments.
- The funding will be directed towards manufacturing Orbs, subsidizing U.S. city rollouts, and improving the protocol’s fee model.
Market Insights
WLD is currently trading at $1.337. A weekly chart shows a rebound from a low of $0.57, with resistance levels identified at $1.27 (20-week EMA) and further at $1.87 (50-week EMA) and $3.27 (0.236 Fibonacci retracement). The market sentiment appears to be improving, with higher volume indicating renewed buying interest.
