Ask AI directly if you have questions; AI can help you solve most problems.

First, clarify two concepts: WLD is a token, not equity; the entity behind the project is Tools for Humanity (TFH), which is a company with equity.

1. WLD Token Distribution (Total 10 billion tokens)

• Community (including users + ecosystem): 75%
• TFH Investors: 13.5%
• Initial Development Team: 9.8%
• TFH Reserves: 1.7%

2. TFH Company Equity (Core Entity)

• Founders: Sam Altman (OpenAI CEO), Alex Blania (TFH CEO)
• Major Investors (public):
◦ Andreessen Horowitz (a16z): Led early investment, shareholding not disclosed
◦ Khosla Ventures, Founders Fund: Key early-stage institutions
◦ Eightco (NASDAQ: ORBS): Holds about 10% of WLD circulating supply (≈277 million tokens), one of the largest single institutional holdings
◦ Historical associations: FTX, Three Arrows Capital (3AC) participated in early investments

3. Key Points

• WLD ≠ Equity: Holding WLD does not mean owning TFH company equity, only token rights and governance
• Control: Sam Altman + Alex Blania + core team + a16z hold actual control over the project and TFH company
• Circulation Concentration: Early market makers held a very high proportion of circulation; current holdings by institutions like Eightco significantly impact liquidity

Regarding Costs
Early Investment Costs for WLD (Institutions/Private Equity)

Organized by funding rounds (not fully disclosed officially, industry estimates):

1) Seed Round (October 2021, raised $25 million)
• Valuation: $1 billion
• Corresponding WLD Cost: ≈$0.01–$0.02 (industry estimate)
• Represented by: a16z, Khosla, Founders Fund, Three Arrows Capital, FTX

2) Series B (March 2022, raised $100 million)
• Valuation: $3 billion
• Corresponding WLD Cost: ≈$0.05–$0.10 (industry estimate)

3) Series C (May 2023, raised $115 million)
• Valuation: about $10 billion
• Corresponding WLD Cost: ≈$0.8–$1.1

4) Market Makers (before launch in July 2023)
• Borrowed 100 million WLD, can buy back at maturity using the formula: $2 + (0.04 × Loan amount / million)
• Average Price: ≈$2.8

5) Public Launch Price (July 24, 2023)
• Opening: $1.94

Quick summary in one sentence:
• Earliest institutions: $0.01–$0.02
• Mid-stage institutions: $0.05–$0.10
• Late-stage institutions: $0.8–$1.1
• Market makers: ≈$2.8
• Retail opening: $1.94