Worldcoin (WLD) Price Jumps 17% as Lock-Up Period for Investors Extends

Artificial intelligence (AI)-based privacy project Worldcoin (WLD) is seeing a huge jump in price after the lock-up period for investors extends.

Investors in the AI-based privacy project Worldcoin (WLD) are facing a longer wait for their locked tokens to be allocated, with a recent adjustment extending the period by two years.

According to a blog post by the altcoin's developers, early investors and team members will now have to wait until July 24, 2024 for their tokens to begin being allocated.

“The WLD tokens allocated to the investors and team members of Tools for Humanity (TFH), early contributors to the Worldcoin project, are scheduled to begin unlocking daily in a linear fashion, starting on July 24, 2024.

This week, TFH notified the Worldcoin Foundation that - in a move aligned with the long-term nature of Worldcoin’s mission - the unlock schedule for 80% of the WLD held by TFH’s team members and investors is being extended from three to five years.”

Worldcoin, an eye-scanning identification protocol, was launched in 2023 and is the brainchild of Sam Altman, the CEO of OpenAI.

The tokens were initially locked to allow them to mature before the groups were granted access to them, the blog post stated. However, starting July 24, the tokens will begin being unlocked and added to the project’s circulating supply.

“Starting on July 24, 2024, approximately 2 million WLD held by TFH investors and team members will unlock every day. The extended unlock schedule has reduced this number by approximately 40% from the original (approximately 3.3 million WLD per day).

As the chart below illustrates, the extended unlock schedule has the effect of slowing the increase in circulating supply.”

WLD is currently trading at $3.03, showing a 17% increase over the last 24 hours.

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