BitTorent Tokens Sold Out in 15 Mins Despite Technical Issues

BitTorent 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, 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, among which 23.76 billion BTT was kept for BNB token holders wheres the other 35.64 billion were offered against TRX.

In both the sessions, the tokens were sold within mere minutes of initiation of the token sale event – 13 minutes 25 seconds in case of BNB offering while within 14 minutes and 41 seconds against TRX – shows the sales information report.
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.

It is official: In the BNB session, all 23.76 billion BTT were sold to token sale participants within 13 minutes and 25 seconds. Meanwhile, in the TRON session, all 35.64 billion BTT were sold within 14 minutes and 41 seconds.

— Justin Sun (@justinsuntron)

The experience, however, was not good for all the investors as many complained about technical issues with their order.

Damn, no matter how much you prepare, still have bottleneck issues. Even the caching of caching was over loaded. Still under estimated demand.

— CZ Binance (@cz_binance)

Luckily, both the founders addressed the issues of the token offering platform and announced an airdrop to the investors with failed orders.

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)

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 platform as its popularity took a hit with the rise of streaming services in the recent years.

Unpopular Opinion:

BitTorrent isn’t huge

Pirating games/videos have become increasingly useless with free to play models/streaming

It’s old tech being disguised a sexy advancement for crypto

— Tom 🌀 (@ThomasSchuIz)

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