Overview

Sam Altman’s blockchain initiative, World Network, has successfully raised $135 million through a private token sale involving venture capital powerhouses a16z and Bain Capital Crypto. The proceeds from this sale are intended to bolster the network’s growth.

• WLD Token Surge: Following the announcement, the value of the WLD token saw a 14% increase.

Background

The fundraising effort aims to finance the expansion of World Network as it seeks to meet the growing demand for its Orb-verified World IDs.

“To accommodate rising demand and to expand the World network in the U.S. and beyond, World Assets, Ltd. sold $135 million worth of WLD at market prices,” the team elaborated.

Market Presence

Launched in July 2023, the WLD token has now achieved a market cap of $1.87 billion, with significant growth of 55% over the last month; however, it remains approximately 75% below its all-time high.

In recent communications, Sam Altman expressed a commitment to providing 180 million Americans access to the Orbs by the year’s end, indicating a push to broaden the service availability.