Tools For Humanity, the leading developer behind the innovative cryptocurrency Worldcoin, is reportedly discussing raising $50 million.
The fundraising strategy involves selling WLD tokens, possibly at $1 each, a significant discount from the current $2.50 market price. These discussions, still in progress, have not yet solidified the terms of the deal.
FT Partners Spearhead the Fundraising Effort
The San Francisco-based investment bank FT Partners plays a crucial role in this capital-raising endeavor, highlighting the move’s importance in the fintech sector. The bank’s involvement suggests confidence in the potential success of the WLD token sale, given its history and expertise in the field.
Worldcoin is a unique player in the cryptocurrency space, leveraging iris-scanning technology for identity verification.
The WLD token, initially experiencing volatility in its market price, has recently seen a steady increase in value with a rapid increase in user base, boasting over 2.5 million participants since its introduction.
With the Worldcoin Foundation planning to decentralize the network and initiate a developer grants program, this fundraising round is pivotal for the project’s growth.
The sale of WLD tokens, facilitated by FT Partners, represents a strategic step forward for Tools For Humanity, aiming to boost Worldcoin’s development and expand its reach in the ever-evolving cryptocurrency landscape.
Also Read: Worldcoin Launches Grants, Emphasizes Decentralization
