BitTorrent tokens (BTT) saw a huge demand as, in the recently conducted token sale, tokens worth around $7.2 million were sold out in under 15 minutes.
Offered on Binance Launchpad, the token launch platform of Binance, BTT token sale ran in two simultaneous sessions – one purchase using Binance Coin (BNB) and the other using Tron (TRX). According to the officially published report, a total of 59.4 billion BTT tokens were offered, of which 23.76 billion BTT was kept for BNB token holders, while the other 35.64 billion were offered against TRX.
In both sessions, the tokens were sold within mere minutes of initiation of the token sale event – 13 minutes 25 seconds in case of the BNB offering and 14 minutes and 41 seconds against TRX.
Binance also revealed that 622 investors took part in the TRX session and 340 participants in the BNB session.
Both the founders of Tron and Binance are overwhelmed with the demand of the token.
The experience, however, was not good for all investors as many complained about technical issues with their order.
Due to overwhelming demands, Tron team generously agreed to do a small airdrop for people who tried to place orders, but was not successful in buying. Exact numbers will be published soon.
— CZ 🔶 Binance (@cz_binance) January 28, 2019
Critics’ Take
Despite the success of the token sale, the project had a fair share of its critics. Tomas Schultz, the co-founder and CEO of the cryptocurrency wallet management application Cha-Ching, raised questions about the size of the BitTorrent platform as its popularity took a hit with the rise of streaming services in the recent years.
(Photo: BitTorrent)
