Arthur Hayes Backs WLD As AI IPO Wave Looms, Exits HYPE And NEAR On Market Top Fears
In Brief
Maelstrom’s Arthur Hayes flags WLD as an undervalued AI proxy, citing Anthropic’s IPO filing and a looming short squeeze as potential catalysts for a price reversal.
BitMEX co-founder and head of crypto investment firm Maelstrom, Arthur Hayes, has shared an overview of the WLD token, the digital asset associated with World, a project backed by Sam Altman’s Tools for Humanity. In a post on X, Arthur Hayes expressed a bullish outlook on the token, citing its connection to the broader artificial intelligence sector as a key driver of potential price appreciation.
The assessment draws on research by Maelstrom analyst Lukas Ruppert, who argues that WLD may be undervalued relative to its AI-adjacent positioning. He draws a parallel to the aerospace sector’s reaction when SpaceX confidentially filed its S-1 on April 1, an event that sent high-beta space equities sharply higher — Rocket Lab surged 165% in the period that followed. With Anthropic now having filed for an IPO as well, Lukas Ruppert contends that a wave of major AI public offerings is approaching, and that WLD represents one of the more direct liquid proxies for that trend — one that has not yet seen a corresponding price response.
WLD has been in a sustained downtrend since February, with losses deepening in March after a private token sale. Worldcoin raised $65 million through an over-the-counter round that month, selling tokens directly to institutional buyers at negotiated prices outside of any exchange. Of that total, $25 million worth of tokens is subject to a six-month lock-up. To hedge against price depreciation ahead of the unlock, those buyers shorted WLD on perpetual futures markets — a dynamic Lukas Ruppert characterises as a textbook short overhang, in which technical selling pressure suppresses price independently of underlying fundamentals.
Despite the broader AI market rally, WLD has posted negative year-to-date returns. Perpetual futures funding rates have turned deeply negative, reflecting sustained bearish positioning from both the OTC hedgers and discretionary short sellers leaning into what has been a one-directional chart.
Potential Catalysts for a Reversal
However, several factors could shift that dynamic. On May 27, Eightco Holdings, a company trading under the ticker ORBS and structured as a WLD and OpenAI digital asset trust, disclosed approximately $144 million in cash and equivalents on its balance sheet. The firm already holds around 283 million WLD tokens, representing approximately 8.3% of circulating supply.
Lukas Ruppert notes that even a modest cash reallocation into WLD could initiate a reflexive buying cycle. This potential catalyst coincides with a scheduled 43% reduction in the daily token unlock rate, set to take effect on July 24.
On the valuation side, Lukas Ruppert observes that capital is actively seeking exposure to Anthropic and OpenAI, often through layered special purpose vehicles carrying significant fees, at valuations in the hundreds of billions to trillions of dollars. WLD, by contrast, trades at an unlocked market capitalisation of approximately $2 billion — a comparatively modest figure within the AI investment landscape. Maelstrom has set a price target of $5 for WLD by August. The note carries a disclaimer that it does not constitute financial advice.
As of the time of writing, WLD is trading at $0.51, registering an increase of over 15.65% in the past 24-hour period. The token reached an intraday low of $0.43 and a high of $0.55. Over the past month, the asset has gained more than 112.55%, according to data from CoinMarketCap.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in crypto, AI, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
