Worldcoin Price Jumps 45% as Lockup Period for Tokens Extended

Worldcoin Price Jumps 45% as Lockup Period for Tokens Extended

Worldcoin Price – Worldcoin’s WLD token experienced a significant 40% surge on Wednesday, following the announcement of an extended lockup period for investors and team members.

As of the latest update, Worldcoin price has risen to $3.13, reflecting an impressive 45% increase since the previous day, based on data from Coingecko. This marks the highest price WLD has reached in the past month.

Tools for Humanity (TFH), a major contributor to the initial development of Worldcoin, announced an extension of the unlock schedule for 80% of the WLD tokens allocated to investors and team members, from three years to five years.

“These tokens were locked to allow the protocol to mature before these groups could access their token allocations,” TFH stated in a press release.

Originally, the plan allowed for WLD tokens to begin unlocking on July 24, 2024, marking the first anniversary of the Worldcoin protocol launch. Under the original schedule, tokens would have unlocked daily over two years, concluding by July 2026.

However, the revised plan now extends this period, with tokens unlocking daily over four years, ending by July 2028.

This extension impacts approximately 2 million WLD tokens held by TFH investors and team members, reducing the daily unlock rate by about 40% from the original 3.3 million WLD per day.

The Worldcoin Foundation assured that the grants for verified World ID holders remain unchanged.

Currently, over 6 million individuals have orb-verified World IDs, allowing them to participate in the Worldcoin network and receive WLD tokens. OpenAI CEO Sam Altman, a co-founder of Worldcoin, has previously expressed a goal for the company to reach 1 billion users by 2023.

“Network effects are incredibly significant,” Worldcoin co-founder Alex Blania told CNBC in 2021. “You see this with Facebook. When you have a billion people holding and using something daily, it opens up vast new opportunities for entrepreneurs.”

In a recent press release, the foundation highlighted that more than 211 million WLD tokens have been claimed by World ID holders, representing over 77% of the 275 million WLD in circulation.