Worldcoin's (WLD) Token Jumps 37% After Raising $135M from a16z and Bain Capital Crypto

Worldcoin's WLD token jumped 37% in a single trading session after the project's parent organization raised $135 million from venture capital firms.

Worldcoin's (WLD) WLD token skyrocketed 37% in a single trading session after the project's parent organization, the World Foundation, disclosed a $135 million funding from prominent venture capital firms, Andreessen Horowitz (a16z) and Bain Capital Crypto.

This capital was raised through a direct token purchase from the World Foundation's liquid WLD tokens at the prevailing spot market price.

The contribution will be used to expand the manufacturing of Orb devices and fund rollouts in U.S. cities.

What Happened: According to a report by Blockworks, a16z and Bain Capital Crypto have made a significant investment in Worldcoin by purchasing WLD tokens for $135 million at the current market price.

The investment was structured as a direct token purchase, rather than a traditional venture round, which means there were no lock-ups or preferential pricing terms.

The purchase will add the same amount of WLD tokens to the circulating supply.

The report further stated that the trading volume for WLD on May 21 increased by nearly 140% compared to the previous day, and the token broke through the $1.4 resistance level that had capped previous rallies.

At the time of reporting, WLD was up 37% and traded at $1.337.

Why It's Important: The funding comes as Worldcoin continues expanding its biometric identity verification network. More than 26 million users now participate in the World network, and over 12.5 million people have obtained Orb-verified World IDs through the project's iris-scanning technology.

The fresh capital will primarily fund manufacturing of additional Orb devices. The World Foundation plans to subsidize rollouts in U.S. cities where regulatory challenges have slowed adoption. The funding will also help refine the protocol’s fee structure.

Worldcoin is positioning itself as a solution for identity verification in an era of advancing artificial intelligence. The foundation argues that identity tools must scale alongside AI development to prepare for artificial general intelligence.

a16z previously invested in Tools for Humanity during its 2021 Series A round. Tools for Humanity was the company that originally incubated Worldcoin before the World Foundation was established.

Later, in 2022, Bain Capital Ventures participated in a $75 million Series B round for Tools for Humanity. The startup is planning to launch a credit card program later this year.

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