What were you doing 5 years ago? Do you remember the “BitCrystals Token Sale”? Yes, already 5 years, unbelievable! Let’s dig a bit in the BitCrystals (BCY) history to refresh your memory, or to learn something new…
One of the first ICOs
The “BitCrystals Token Sale” was among the first Initial Coin Offerings (ICO). This new kind of crowdfunding was first held by Mastercoin, now called Omni, in 2013. The man behind the idea, the “father” of ICO is an american software developer J.R. Willet.
A year later, Ethereum raised money running an ICO on Bitcoin. In 2015, EverdreamSoft was probably the first gaming company to run an ICO, and remains one of the pioneers of this kind of crowdfunding in general.
Initial Coin Offerings became very popular in 2017. Following the boom of cryptocurrencies in December 2017, the regulators stepped in the game. The implementation of new policies, tending to take over this new financial flow cooled down the ICO fever.
BitCrystals Token Sale
The BitCrystals Token Sale started on August 4th, 2015 and finished on September 3rd: 5 years ago to the day. The Token Sale soft cap, i.e. the minimal amount to be raised to consider the ICO a success, was 730 BTC. If today this amount represents quite a lot of money – over 8.5M USD – back then it was worth about 200k USD.
Initially offered at the rate of 15,000 BitCrystals per 1 BTC, the price increased every 5 days during the whole period of the Sale.
Although the ICO ran for a month, the soft cap was reached in 3 days only! In total, we raised 974 BTC, an amount worth about 270k USD back then.
Thanks to this crowdfunding campaign, we could start the development of Spells of Genesis (SoG), which was released roughly 1.5 years later.
BitCrystals were issued in a limited supply of 100 000 000 units. 30% of this supply was kept by EverdreamSoft and 70% was offered for sale during the BitCrystals Token Sale. After the end of the BitCrystals Token Sale, the unsold BitCrystals were burnt, i.e. destroyed by sending them to an address with no known private key.
Since then, at the end of each month, an equivalent of 50% of the cards and in-game sale income in BCY is burnt and EverdreamSoft publishes a detailed report. The burn address we use is: 1BURNSogXXXXXXXXXXXXXXXXXXXXW3ny2Y.
Over 3M BCY were burnt so far.
Did you know that the very first blockchain card, playable in SoG was released in March 2015 already?! The very first card was the “Healing Formula”, released as a part of our partnership with FoldingCoin.
Before the beginning of the BitCrystals Token Sale, more than 10 blockchain cards were issued, most of them in collaboration with other promising blockchain projects, or featuring famous events (“Battle for Blocksize”) or characters (“Creator of the Askian”) from the blockchain realm.
Today, there’s almost 200 cards that were released directly on the blockchain, and the in-game cards can be blockchainized.
Special Anniversary Sale
To celebrate the 5th anniversary of the BitCrystals Token Sale, we’ve decided to offer several cards, among the first one ever issued, on sale with -10% for each year, i.e. with -50% of their regular price!
All the offered cards are available on Ethereum and Counterparty, payable with BCY, BCY ETH, ETH or BTC.
You also have a unique chance to get an Ethereum copy of “Genesis Block”, a card distributed during the “BitCrystals Token Sale”, never put on sale before!
Happy Birthday, BitCrystals & Spells of Genesis!