Zinger Points:
- WLD token jumped 25%, trading at $1.55, within 24 hours of the announcement on May 21.
- The funding will scale Orb distribution in the U.S. and fuel global demand for verifiable digital identity amid the rise of AI
Worldcoin, the digital identity project co-founded by OpenAI CEO Sam Altman, has raised $135 million through a direct sale of its WLD token, according to the Worldcoin Foundation.
Within 24 hours of the May 21 announcement, the token surged 25%, reaching a three-month high of approximately $1.55—up from an earlier dip below $1.24, according to Beincrypto. Trading volume also spiked past $1 billion, reflecting strong market interest and renewed momentum.
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Direct Token Sale, No Venture Terms
World Assets Ltd., a subsidiary of the Worldcoin Foundation, conducted the token sale. According to the Worldcoin Foundation, the token sale involved a direct purchase of WLD tokens at market prices by Andreessen Horowitz, or a16z, and Bain Capital Crypto, with "no venture-style lockups or discounts." The foundation said the transaction added over 100 million tokens to the circulating supply.
The foundation clarified that the sale was not structured as a typical venture round but as a direct purchase of liquid tokens at market price, with no discounts.
Iris Scans, Identity, And AI Risk
Worldcoin uses a proof-of-personhood model, where users scan their irises via the Orb in exchange for airdropped WLD tokens. These tokens can then be used within Worldcoin's in-app ecosystem, according to a Worldcoin whitepaper.
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As of May, the project reported over 26 million users, with 12.5 million having completed Orb-based verification. According to the foundation, the funding supports the World's long-term mission to provide scalable human verification tools in the age of artificial general intelligence. The network is expected to become one of the first self-sustaining protocols, driven in part by protocol fees.
Orb Expansion, AI Risks, And Regulatory Theater
To meet growing demand, Worldcoin is rapidly scaling its Orb infrastructure across the U.S., with deployments already underway in Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco, CNBC reported.
The company plans to distribute 7,500 Orbs across the country by the end of the year, offering access to biometric verification for over 180 million Americans. A flagship storefront has been launched in San Francisco, and a Texas-based facility will support nationwide Orb production and distribution, including placement in gas stations and convenience stores.
Despite these expansion efforts, Worldcoin faces regulatory pushback in multiple regions. Authorities in Spain, Indonesia, and Kenya have raised concerns over data privacy and biometric compliance, with some halting or investigating the project, CNN reported.
Early Backers Signal Long-Term Conviction
Andreessen Horowitz and Bain Capital Crypto were among the earliest backers of Worldcoin, having previously invested in Tools for Humanity—the company developing the project—during a $115 million round led by Blockchain Capital in May 2023, according to Crunchbase.
Their latest $135 million token purchase at full market price—despite a 90% price decline over the past 14 months—was seen by some as a bold vote of confidence.
"A16z and Bain just bought $135 million of Worldcoin (WLD) at the current market price… a price that is down 90% over the past 14 months. I'm not sure I've ever seen something like that," said Matt Hougan, chief investment officer at Bitwise Asset Management, in a post on X.
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