SAN FRANCISCO – In a surprising move for a cryptocurrency facing significant headwinds, Worldcoin’s foundation secured $65 million in over-the-counter (OTC) token sales on March 28, 2026. The funding comes despite a staggering 97% drop in the value of its WLD token and ongoing token unlocks, raising questions about who is still willing to invest in the project. This development highlights the complex dynamics at play in the cryptocurrency market, even during extended “crypto winter” periods.
The OTC sale, averaging $0.2719 per WLD token, involved four transactions, with the first settling on March 20, 2026. A significant portion – $25 million worth of tokens – is subject to a six-month lock-up period. According to an official statement, the funds will be allocated to core operations, research and development, Orb hardware manufacturing and ecosystem development, all managed through a multi-signature wallet address 0xE797.
This funding round is particularly noteworthy given the current market conditions. The ability to raise substantial capital in a deep bear market is, as one observer noted, “quite rare.” The last major funding for Worldcoin occurred in May 2025, when its subsidiary, World Assets, sold $135 million worth of WLD tokens to early backers a16z and Bain Capital Crypto at market prices.
Worldcoin, now rebranded as World, launched WLD in July 2023, quickly gaining attention thanks to the endorsement of Sam Altman, the AI boom, and its unique “Proof of Personhood” concept. The project aimed to create a global identity network using its Orb device, which scans irises to verify human uniqueness. By March 2024, fueled by the Bitcoin halving cycle and the broader AI narrative, WLD’s price surged, reaching a high of approximately $11.80 and briefly pushing its market capitalization close to $10 billion. User registration through the Orb saw unprecedented levels of enthusiasm, positioning the project as a leading contender in the Web3 identity infrastructure space.
Though, the momentum proved short-lived. The second half of 2024 saw a dramatic reversal of fortune. A broader cryptocurrency market correction, increased regulatory scrutiny from bodies like the European Union regarding biometric data, and the pressure of large-scale token unlocks all contributed to a precipitous decline in WLD’s price. Throughout 2025, the token traded within a range of $0.50 to $1.50, with iris scan adoption growing steadily but falling short of initial projections. User growth and narrative hype began to diverge.
Entering 2026, WLD continued its downward trajectory, recently hitting a low of $0.2433 before stabilizing around $0.27, representing a cumulative loss of over 97% from its all-time high. The price action mirrors a common pattern for many altcoins: initial hype driven by a concept, followed by selling pressure from token unlocks and broader macroeconomic factors, and finally, the test of real-world application.
The recent price trajectory of WLD closely resembles a three-act structure common to many altcoins: concept-driven growth, supply-side pressure, and the ultimate test of real-world implementation. Early gains were largely attributed to the association with Sam Altman and the AI boom, while subsequent declines were fueled by continuous token unlocks and a tightening macroeconomic environment.
Interestingly, just days before announcing the OTC sale, on March 25, World published a research paper titled “Private Proof of Human: Critical Infrastructure for Humanity in a World with Advanced AI.” The paper addresses a core challenge in the age of AI agents: establishing a reliable and privacy-preserving “Proof of Human” infrastructure in a world increasingly populated by machines.
The paper details a technical solution combining the Orb iris scanning hardware with secure multi-party computation (SMPC) and zero-knowledge proofs (ZKP). This approach aims to efficiently verify human uniqueness while completely preventing the leakage of personal biometric data, offering a more forward-looking and secure alternative to traditional facial recognition or passport verification. The solution is positioned as the foundation of trust for the future internet, capable of combating deepfakes and AI-powered bot attacks.
Adding further weight to the narrative, a16z co-founder Marc Andreessen shared the paper on X (formerly Twitter) on March 26, with a succinct but impactful comment: “It’s time to prove humans.”
In an era where AI is reshaping productivity, Proof of Human (PoH) is increasingly seen as essential for distinguishing humans from machines and rebuilding trust in the digital economy.
On March 17, World launched AgentKit, which allows agents to register using World ID, linking their wallets to anonymous human identities. Agents sign standard identity verification challenges, and access is granted upon successful matching. World claims AgentKit can be used for privacy protection, ticketing systems, rate limiting, and preventing Sybil attacks.
World is scheduled to host a “Lift Off” World ID global launch event in San Francisco on April 17, with Sam Altman and World CEO Alex Ionescu co-hosting. The event will focus on the latest developments in World ID, Orb hardware iterations, and applications for human verification in the age of AI. Altman’s presence is expected to generate significant buzz and potentially signal a closer collaboration between OpenAI and World – AI agents require verification of real human identity, and World ID offers a decentralized solution.
Currently, WLD has a market capitalization of $1.346 billion, with a fully diluted valuation (FDV) of $2.758 billion. Approximately 48.80% of the total token supply is already unlocked. However, WLD continues to unlock 0.05% of its maximum supply daily, equating to roughly 5.32 million tokens, valued at approximately $1.479 million. This ongoing unlock schedule is expected to continue exerting downward pressure on the market.
The next key event for Worldcoin is the “Lift Off” event in San Francisco on April 17th, where further details on the project’s roadmap and potential partnerships are expected to be revealed. Investors and observers will be closely watching to witness if the project can deliver on its ambitious vision and regain momentum in the increasingly competitive AI and identity space.
