Worldcoin Extends Lockups for Early Investors and Team Members

Decentralized identity project Worldcoin has recently announced an extension of lockups for early investors and team members, resulting in a 15% increase in the project’s native token (WLD) value.

WLD is currently trading at $2.457, up from $2.147 at the time of the announcement, marking a daily gain of 26%, according to CoinDesk data.

In a blog post, Worldcoin stated, “The unlock schedule for 80% of the WLD held by TFH’s (Tools for Humanity) team members and investors is being extended from 3 to 5 years.”

This adjustment means that the vesting schedule will be more gradual, spanning until 2029, as opposed to the original plan. Token unlocks are typically viewed as a bearish event, as they increase circulating supply and the potential for early investors to sell in the open market.

Worldcoin, led by OpenAI CEO Sam Altman, secured $115 million in a Series C round last year to expedite efforts to onboard individuals worldwide to acquire a Worldcoin decentralized ID.

The current circulating supply of WLD stands at 275 million, with 77% initially claimed by World ID holders. With the revised schedule, the circulating supply is projected to reach 400 million in September instead of August.