Bitcrystals

Bitcrystal cryptocurrency

Bitshares Information

Algorithm Counterparty
Proof type N/A
Start date 06/02/2015
Coin Tag BCY
Website Bitcrystals
Exchanger

BitCrystals

BitCrystals (BCY) are digital Counterparty assets, issued in a limited supply of 100 000 000 units.  70% of this supply was offered for sale during the BitCrystals Token Sale (an ICO intended to finance the beginning of the development of Spells of Genesis.)

BitCrystals can be used to purchase blockchain-based trading cards, playable in SoG, or exchanged on the market for another cryptocurrencies.

Approach: True ownership of digital assets

BitCrystals were issued by a Swiss-based company EverdreamSoft, which is also the developer of the first blockchain-based game Spells of Genesis.

EverdreamSoft (EDS) believes players should have full ownership of their game assets. EDS’ goal is to build an innovative in-game economy, where players own their cards and other game items not only in the game world but also outside the game, on the blockchain.

Once players acquire a game asset, they should be free to own and transfer it. Unlike in other games, the SoG blockchain game items are kept outside the game database and they can be played inside the game, but also traded on the blockchain or even used in other games.r

Distribution model

BitCrystals were issued in a limited supply of 100 000 000 units.30% of the initial supply were kept by EverdreamSoft for promotion and development purposes while 70 000 000 BCY were allocated to the BitCrystals Token Sale. The unsold BCY from the Token Sale were burnt after its end.

EverdreamSoft sells blockchain cards for BCY. At the end of each month, 50% of the cards sale income in BCY are burnt and a detailed burn report is published regularly. The BitCrystals to be burnt are sent to the following  address: 1BURNSogXXXXXXXXXXXXXXXXXXXXW3ny2Y.

Given the distribution model, the total supply of BitCrystals is constantly decreasing  thus its value keeps increasing.

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