World, the human verification project co-founded by OpenAI CEO Sam Altman, announced on Friday a significant reduction in the daily unlock rate of its native WLD token, set to take effect on July 24. The aggregate daily unlock rate will decrease by 43%.
The project detailed the specific changes in a post. The unlock rate for Community-owned tokens will fall to 50%, equating to 1.6 million WLD per day. Meanwhile, the unlock rate for Investor and Team tokens will slow by 32%, or 1.3 million tokens per day.
World provided context on its tokenomics, stating, "At launch on July 24, 2023, 500 million WLD from the World Community allocation were unlocked. 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 the announcement date, 4.9 billion tokens, representing 49% of the total supply, have already been unlocked.
The market reacted positively to the news. On the day of the announcement, the WLD token price was up nearly 3%, trading at approximately $0.28, according to The Block's Price Page. The token's market capitalization was roughly $900 million.
The World project aims to create a digital identity infrastructure to distinguish humans from AI actors online. In a related financial disclosure, the article noted that nearly a year prior, World sold $135 million worth of WLD tokens to prior backers, including venture capital firms Andreessen Horowitz and Bain Capital Crypto.
