The bankruptcy estate of FTX is set to auction around 22 million Worldcoin (WLD) tokens, which are valued at approximately $38 million, on October 3. Worldcoin currently holds a market capitalization of about $792 million, with a circulating supply of 494 million tokens, according to CoinGecko.
Potential investors interested in participating in the auction must submit their bids by 8 PM on October 3. The minimum qualifying bid has been set at $2.5 million. However, reports suggest that the tokens could be sold at a significant discount, potentially up to 75% below their market value.
These Worldcoin tokens are subject to a four-year unlocking period, which will last until 2028. Starting on December 1, 2024, approximately 20,000 tokens will unlock each day. By July 2026, the daily unlocking rate will decrease to about 14,000 tokens, continuing at that pace until the end of the period in 2028.
This auction presents an opportunity for investors to acquire Worldcoin tokens at a potentially lower price, but they will need to consider the long unlocking schedule when making their bids.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
