In the pursuit of financial backing, Tools For Humanity, the primary architect of Worldcoin, a cryptocurrency venture co-founded by Sam Altman, is actively engaged in discussions with investors. The goal is to secure additional funds through the sale of WLD tokens.

In recent weeks, Tools For Humanity has started discussions with multiple investors for a potential over-the-counter transaction involving WLD.

Moreover, sources with knowledge of the matter suggest that the company is targeting to raise up to $50 million. They propose a token valuation of $1 per WLD, which represents a significant markdown from the current market rate of $2.50.

However, an insider closely involved in the negotiations stressed that no concrete terms have been settled at this point.

FT Partners Facilitates Worldcoin Funding with Lock-up Terms

Tools for Humanity

Furthermore, FT Partners, the San Francisco-based investment bank specializing in the fintech domain, is playing a pivotal role in facilitating this capital infusion.

An individual familiar with the proceedings revealed this information. Another source, well-versed in the deal, mentioned robust interest from prospective investors since the token’s launch. Standard lock-up terms are anticipated for any subsequent WLD investments.

A spokesperson representing Worldcoin has refrained from providing any comments on the matter.

Worldcoin, an identity-centric cryptocurrency initiative, utilizes orb devices for iris scanning to substantiate online identity claims. Concurrently, its co-creator, Sam Altman, holds the position of CEO at OpenAI.

Altman Regains OpenAI, WLD Integration Surpasses 2.5M Users

OpenAI is the entity responsible for the widely acclaimed generative AI tool, ChatGPT. Recently, Altman thwarted a dramatic attempt by OpenAI’s board to displace him as CEO, reassuming control on November 22.

WLD integration in Worldcoin encourages users to enroll by rewarding iris scans with tokens. The token officially debuted on July 24, promising a share to over 2 million registrants at the time. Presently, the user base has surpassed 2.5 million.

During its inception, WLD’s value surged beyond $3 before undergoing a decline to slightly above $1 in September, as per The Block’s Price Page.

Subsequently, it has experienced a gradual resurgence, reaching the present value of $2.50. The initial token launch drew criticism from certain observers who alleged that a “low float” structure contributed to an artificially inflated price.

Read More:

DTCC Welcomes Fidelity’s Spot Bitcoin ETF with Ticker FBTC

LayerZero Labs Unveils Native Token, Allocates $3M to Community Pool