BitTorrent Product Director Affirms 100 Million Users Can Earn BTT Token Money Via File Distribution
BitTorrent has recently released its BTT tokens via the Binance Launchpad in a huge sale. The company was able to make $7.2 million USD via its sale in less than half an hour, which showed just how valuable these tokens can be. Now, the company is set to start its new system which will pay users for sharing on the network.
Recently, the product director of BitTorrent, Pavel Lagutin, has affirmed that 100 million users from the company are already able to make money with this new system.
BitTorrent Product Director: 100M users can make money from file distribution. @ForkLog spoke with #BitTorrent product director Pavel Lagutin about what will change for users of torrent clients after the appearance of the #BTT and how they can make money on file distribution. https://t.co/h19pIcax3T
— Justin Sun (@justinsuntron) March 4, 2019
Making Money Sharing Files
The idea of the ecosystem created by these tokens is that people will now be able to get rewards by sharing files. This way, they will stop doing that only for the sake of helping the community and can actually earn something from their effort.
With this new system, people will be able to pay for higher download speeds. The tokens that they will pay will be given to the users who provide the files and the speed that they need. This way, people will basically be able to pay for premium services.
According to the company, the BTT tokens will be utility tokens that will be used in the platform, not real investments like securities. While BTT tokens are currently being traded, the company affirms that the main goal is to use the token as a mean of payment.
The Token Launch
BitTorrent actually had a very successful token launch of its BTT tokens. According to the CEO of Binance, Changpeng Zhao, all tokens were sold in about 18 minutes and that was because of a system glitch which made sales slower. He affirmed that the demand for the tokens was huge and BitTorrent was able to bring $7.2 million from the sales home.
Many users were furious at the launch as they were unable to buy the tokens despite making several attempts. Too many people tried to buy at the same time and some were not lucky enough to participate in the token launch.