The Worldcoin token unlock for investors and “team members” of Tools for Humanity will begin on July 24. The altcoin project also announced that the unlocking schedule for 80% of the tokens held by Tools for Humanity team members has been extended from three to five years. Following this development, the token price took flight.
Worldcoin made an important announcement for token unlock, the altcoin price skyrocketed!
Worldcoin, the human verification crypto project founded by Open AI CEO Sam Altman, made an important announcement. The project announced that early contributors to its efforts will start to see their WLD tokens unlocked starting next week. The altcoin project also announced that the unlock program for these tokens has been extended. In a blog post, the project highlighted the following points:
WLD tokens allocated to Tools for Humanity (TFH) investors and team members who were early contributors to the Worldcoin project are scheduled to begin unlocking on a linear daily basis. This week, TFH informed the Worldcoin Foundation that the unlocking schedule for 80% of WLD held by TFH’s team members and investors has been extended from 3 years to 5 years, a move in line with the long-term nature of Worldcoin’s mission.
Following this development, the WLD price made a vertical ascent. The token surged more than 23% to $2.44 on its daily chart. At the time of writing, the token continues to trade at $2.41 with a slight loss of altitude. Meanwhile, the token’s trading volume saw a phenomenal increase of 330%. This shows that investors and traders are showing increased interest in the token.
Details of the Worldcoin project and the latest development
To Worldcoin ols for Humanity is the lead developer and main backer of the Worldcoin project. As you’ve been following from Kriptokoin.com, the project gives people World IDs and tokens if they agree to have their eyeballs scanned by a globe to prove they are human. The company is led by CEO Alex Blania, who co-founded Worldcoin with Altman. Investors and those working for Tools for Humanity are allocated locked WLD tokens for “their own contributions,” the post said.
“WLD grants for verified World ID holders were not affected,” Worldcoin said, adding that “more than 211 million WLDs have been claimed by World ID holders, representing more than 77% of the 275 million WLDs currently in circulation.” The altcoin project noted that “7.22 billion WLDs remain in the Worldcoin Community pool, which is managed by the Worldcoin Foundation and its affiliate World Assets Ltd in order to support the long-term sustainability of the Worldcoin project.” Tuesday’s blog post also noted that Tools for Humanity investor and team member tokens, which will begin unlocking next week, “will begin to enter the circulating supply of WLD.”
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