World, the human verification project connected to Sam Altman, said Friday that the daily unlock rate of its WLD token will decrease by an aggregate 43% starting July 24.
OpenAI CEO Sam Altman is a co-founder of Tools for Humanity, the chief developer behind the World project.
Community-owned tokens will see their unlock rate fall to 50%, or 1.6 million per day, while Investor and Team tokens’ rate will slow by 32% or 1.3 million per day, the project said in a post.
“At launch on July 24, 2023, 500 million WLD from the World Community allocation were unlocked,” the project said. “The remaining 9.5 billion tokens were made subject to continuous daily unlock schedules, with the final tranche unlocking 15 years from the launch date.”
As of Friday, 4.9 billion tokens, or 49% of the total supply, have been unlocked, World said.
WLD was up nearly 3% on Friday, changing hands at $0.28, according to The Block’s Price Page. The token has a market cap of roughly $900 million.
The World project seeks to distribute digital identities to people willing to prove they are human. The idea is to create an infrastructure layer that could, in the future, help distinguish humans from AI actors on the internet.
Nearly one year ago, World sold $135 million worth of WLD, its native token, to the firm’s prior backers, Andreessen Horowitz and Bain Capital Crypto.
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