The World Foundation raised $65mn through OTC token sales, placing WLD directly with a small group of counterparties despite the token trading near recent lows. A portion of the sale includes a lock-up period, which is typically used to limit immediate selling pressure, but the broader point is that the project continues to fund itself through token issuance rather than traditional equity.
What stands out is the incentive structure behind this model. Selling tokens avoids equity dilution for the project, but shifts dilution toward token holders through increased circulating supply. That trade-off becomes more visible when sales happen during weaker price conditions. It also raises questions about sustainability, especially for capital-intensive projects relying on recurring funding. Does this align incentives long term, or create persistent supply overhang?
