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, 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, 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.

 

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) January 28, 2019

 

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

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