In an unprecedented achievement, bitsCrunch, the decentralized Web3 analytics network, has sold out its community sale of BCUT – the native utility and governance token – within a remarkable 24 minutes, setting a new record on CoinList. The community sale, held on December 14th, 2023, raised $3.85 million and welcomed over 3,300 new token holders, contributing to the rapid expansion of the bitsCrunch community.
Global Participation and Geographic Diversity
With an overwhelming response from over 38,000 unique registrants across 163 countries, the BCUT community sale showcased remarkable global participation and geographic diversity. This event, marked as one of CoinList’s most geographically diverse sales, underscores bitsCrunch’s commitment to decentralization. The community sale made 7% of the total 70,000,000 BCUT supply available at $0.055 per token, drawing significant interest.
bitsCrunch Network’s Analytical Capabilities
The bitsCrunch Network stands out for providing detailed forensic data on NFTs, offering users insights into potential risks, fraudulent activities, and security measures. Leveraging AI technology, the network delivers accurate price estimations for NFT tokens and supports data from various blockchains and NFT marketplaces, offering users a comprehensive source of information for informed decision-making.
Incentivized Testnet Campaign and Future Plans
Preceding the BCUT community sale, bitsCrunch initiated an incentivized testnet campaign on CoinList to evaluate network security and functionality ahead of the mainnet launch in 2024. Over 27,000 unique wallets participated in the campaign, earning BCUT tokens through specific tasks. The mainnet launch, scheduled for January 2024, will see 20% of purchased tokens distributed to the community, followed by a 12-month linear release.
Decentralizing Blockchain Analytics with BCUT
The bitsCrunch vision revolves around decentralizing blockchain analytics and forensics data on public blockchains. BCUT plays a crucial role in achieving this vision, promoting a safe and efficient network that operates independently, reducing reliance on external volatile entities. The BCUT token facilitates network operations through cryptographic techniques and economic incentives, fostering adoption and network integrity.
Strategic Funding Rounds and Recognition
bitsCrunch secured $3.6 million in a private funding round last year, led by Animoca Brands and featured participation from prominent entities like Coinbase Ventures, Crypto.com Capital, Polygon Studios, and others. The strategic round of $2.4 million was led by Hashkey Capital, with participation from Chainlink, Gate Labs, Cypher Capital, CoinSwitch Ventures, and more.
Vijay Pravin, Founder and CEO of bitsCrunch, commented: “By selling out in a record 24 minutes, we have earned the esteemed title of fastest token sale in CoinList history. This represents a firm seal of approval for our vision to decentralize blockchain analytics – a vision that has already been backed by some of the world’s most renowned Web3 investors and VCs. As we march towards mainnet launch, this record breaking community sale bookends a tremendous year of growth for our network in 2023, and we look forward to building on this momentum in 2024.”
The bitsCrunch network continues to attract top companies from both Web2 and Web3 sectors, signaling its rapid expansion. To explore more about bitsCrunch, visit the official website here.
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