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The album peaked at number 33 on the US Billboard 200 albums chart. It was certified Platinum by the Recording Industry Association of America on May 12, 1998, for selling over a million copies. It spawned three singles: the official singles "Up Jumps da Boogie" and "Clock Strikes", and the promotional single "Luv 2 Luv Ya". Its lead single, "Up Jumps da Boogie", was certified Gold by the RIAA on August 26, 1997.
In August 2021, Blackground rebranded as Blackground 2.0, with Barry Hankerson remaining as founder. Blackground 2.0 signed a distribution deal with Empire Distribution, which will re-release the label's catalogue onto digital download sites and streaming services. Welcome to Our World was re-released on August 27, 2021.
The Village Voice wrote that Timbaland & Magoo "bring hiphop back to its party-arty roots, creating something fun and fabulous in the hotel-motel-Holiday Inn tradition... These jesters aren't interested in keeping it real: They know much more creativity goes into making it surreal."