FTT Token

Token

Worldcoin

<p>The FTX estate is preparing to auction off 22 million Worldcoin (WLD) tokens, valued at nearly $38 million. This move is part of FTX’s ongoing efforts to recover funds for creditors after the company’s dramatic collapse in 2022. The auction, set for October 3, 2024, has attracted interest from investors hoping to purchase the tokens at a steep discount—up to 75% off. But there’s more to this sale than just the potential bargain.</p>  
<h2 class="wp-block-heading" id="h-what-s-on-offer">What’s on Offer?</h2>  
<p>The 22 million WLD tokens on the auction block are not immediately tradable. They're locked, meaning buyers will need to wait before they can access and use these tokens. Around 20,000 tokens will start to unlock daily starting December 1, 2024. By 2026, the unlocking rate will slow down, unlocking only 13,000 tokens until all are free from the locking period in 2028.</p>  
<p>Despite these long lockup periods, some investors are eager for the auction, as this sale could offer substantial savings compared to the current market price. Worldcoin is trading at around $1.69 per token, but bidders could snag them for much less. With a minimum bid set at $2.5 million, investors will have to weigh whether they’re willing to wait for their tokens to become available.</p>  
<h2 class="wp-block-heading" id="h-ftx-history-of-discounted-sales">FTX History of Discounted Sales</h2>  
<p>This will not be the first time FTX estate plans to sell some tokens on discount. Earlier they have auctioned Solana at a price significantly lower than the market value. They sold their final batch of Solana for $64 per token, offering a 68% discount from the market price and valuing the sale at $1.9 billion. Some creditors accuse FTX of undervaluing its assets and short changing them in the process.</p>  
<h2 class="wp-block-heading" id="h-what-s-at-stake-for-investors">What’s at Stake for Investors?</h2>  
<p>The auction of worldcoin is indeed an unique opportunity for investors who would like to gamble on the future of this token. On the other hand, the 4 years long lockup period might make some bidders uninterested in this FTX auction. Tokens won’t begin unlocking until late 2024, and even then, the gradual unlocking schedule means investors will have to wait until 2028 to access the full amount.</p>  
<p>This long waiting period contrasts with the immediate availability most investors seek, making it a risky proposition. However, those with a long-term outlook and the ability to hold could stand to gain if Worldcoin's value increases during this time.</p>  
<p>Still, the upcoming auction has created a buzz in the crypto world. With only one batch of Worldcoin tokens up for sale, this is a one-time opportunity, and once it’s gone, there will be no further auctions for WLD from the FTX estate.</p>  
<p><strong>Also Read :<a href="https://coinpedia.org/news/warning-ftt-token-can-cause-huge-loss-to-investors/" rel="noopener noreferrer nofollow"> Warning! Here’s Why FTT Token Can Cause Huge Loss to Investors</a></strong></p>

FTX to Auction 22 Million Worldcoin : Everything You Need to Know!

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