The Worldcoin subsidiary expects to sell WLD tokens from the treasury to ‘support’ network growth.

World Assets, a subsidiary of the Worldcoin Foundation, is planning to sell. world

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You will be able to receive tokens from the World Asset Treasury in the coming months.

The reason the sale is mentioned is to meet the growing demand for Orb-verified World IDs and support the growth of the Worldcoin network.

According to the blog post, the WLD token sale schedule is expected to last up to six months. “To meet the growing demand for old-verified World IDs globally and to support the growth of the Worldcoin network, World Assets Ltd. (a subsidiary of the Worldcoin Foundation) expects to sell WLD tokens from the World Assets Treasury in the coming months. A post was posted saying, “I do.”

World Assets noted that under current market conditions, it expects to sell between 500,000 ($2.7 million) and 1.5 million ($8.1 million) of WLD tokens per week on average. According to Worldcoin, this sales rate is currently less than 0.1% to 0.4% of weekly token trading volume.

“World Assets plans to gradually sell WLD tokens through a private placement to select institutional trading firms operating outside the United States. This private placement of WLD will take place over a period of up to six months,” it further stated.

Prohibited for resale to U.S. residents

Worldcoin presented an example of restrictions on asset distribution. Trading companies are restricted from reselling WLD to U.S. persons or using digital asset trading platforms available to U.S. persons. World Assets may also seek to include a 40-day lock-in period to limit resale of WLD by trading companies.

“World Assets will negotiate with several competing trading firms with the aim of executing the private placement at a price as close as possible to WLD’s prevailing market price, given the aforementioned restrictions,” the statement added.

WorldCoin (WLD) is currently trading at $5.43, down more than 3% in the last 24 hours. At 5:27 AM ET The Block’s pricing page. The cryptocurrency currently ranks 97th with a market capitalization of $1.1 billion and a fully diluted value of $54 billion.

The WLD token price has fallen more than 3% in the last 24 hours. Image: Block.

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