World Network Sells $135M in WLD; Token Surges 14% Amid Identity Arms Race Hassan Shittu | usagoldmines.com

Sam Altman’s World Network has raised $135 million through a private sale of its WLD token. The tokens were sold at market prices to Andreessen Horowitz (a16z) and Bain Capital Crypto, two of the project’s earliest backers.

World Assets Ltd., a subsidiary of the World Foundation, which oversees the World Network, made the announcement on May 21. The team said the funding would help expand the network across the U.S. and globally, particularly to meet rising demand for Orb-verified World IDs.

World Network Sells $135M in WLD Tokens to a16z and Bain Capital Crypto

According to the announcement, the group said, “Increasing demand for Orb-verified World IDs and support for the expansion of the World Network prompted the sale.” The transaction also increases the circulating supply of WLD.

The sale comes as World Network begins to roll out new in-app functionalities and recently made WLD available to U.S. users for the first time. News of the funding pushed WLD up 14% on the day.

The token has gained 55% in the past month, though it still trades nearly 75% below its all-time high. WLD was launched in July 2023 and currently holds a market capitalization of $1.87 billion, according to CoinMarketCap.

World Network, best known for its Orb-based biometric identity system, now counts over 26 million participants. More than 12.5 million of those users have received an Orb-verified World ID, a key requirement for accessing parts of the network.

The project positions itself as a digital identity solution for the age of artificial general intelligence (AGI), designed to distinguish humans from machines. Its backers believe this is becoming increasingly necessary as AI tools grow more sophisticated.

“The tools to distinguish humans from machines should scale at a similar pace to help prepare humanity for the AGI era,” the blog post added. “This funding opportunity is in service to the long-term mission of World and is backed by the builders who believed in World from the beginning.”

World Network says it plans to become one of the first self-sustaining protocols through mechanisms like protocol fees. Previous investors in the project include Selini Capital, Mirana Ventures, and Arctic Digital.

The team has not disclosed any timeline for further token sales or expansions, but the latest capital raise shows continued investor confidence in World’s vision for a global, biometric-powered identity network.

World Expands to U.S., Adds USDC Support and Taps Gamers Through Razer Partnership

Worldcoin’s long-awaited entry into the United States marks a major milestone for the project, which until now operated only in select international markets.

As of this month, users in several U.S. cities can finally scan their irises using the project’s Orb devices, World’s signature identity verification hardware, and receive WLD tokens through the World App.

The U.S. launch follows years of regulatory delays and privacy concerns over biometric data collection. With these issues now reportedly resolved, the launch coincides with a broader push to scale World’s crypto ecosystem.

Alongside the U.S. debut, World Chain, the blockchain powering Worldcoin, has integrated USDC and Circle’s Cross-Chain Transfer Protocol (CCTP).

The upgrade allows World’s 25 million users to move stablecoins across chains without relying on centralized exchanges or third-party bridges.

Nearly two million users already hold bridged USDC in their World App wallets, which are now set to upgrade to native USDC issued directly by Circle.

In another move to scale its digital identity network, Worldcoin has also partnered with gaming brand Razer.

The “Razer ID verified by World ID” feature, now live in 22 countries, allows gamers to confirm their humanness and securely join AI-powered gaming platforms.

The post World Network Sells $135M in WLD; Token Surges 14% Amid Identity Arms Race appeared first on Cryptonews.

This articles is written by : Nermeen Nabil Khear Abdelmalak

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