After a price peak in March, BCY saw a period of bearish activity up to late May, until the price received a bump.
Going into July the BCY sat at 0.00010497 BTC ($0.07 USD), according to CoinGecko, and illustrated another climb in the game-based cryptocurrency.
Tokenized Mobile Gaming
Markéta Korteova, Marketing Director at EverdreamSoft, is sure that BCY’s price patterns are related to the four progress milestones laid out by SoG’s team. Each milestone was a designated marker point toward the game’s development, with the third milestone achieved in February.
The first milestone was the launch of BitCrystals in late 2015 through a token sale in which 70 million BCY were made available for purchase.
According to the BitCrystal’s GitHub page, 14.3 million BCY were distributed during the sale, raising 40 bitcoins, while the remaining 55.5 million BCY were slated to be destroyed or burned.
The crowdsale was a big help to the development of Spells of Genesis, said Korteova.
She explains to CoinTelegraph:
“From the very beginning, EverdreamSoft’s goal was to make SoG more than a regular trading card game, operating under “the whole idea of a blockchain-based game and of true ownership of game assets. We were not crowdfunding just the game, but the whole vision behind it. Project backers became more than simple donors, they also became co-owners of parts of the project.”
BitCrystals are digital assets based on the Counterparty platform. It allows Spells of Genesis’ currency to operate as an independent token while still existing on the Bitcoin blockchain.
BitCrystals can be used to purchase trading cards within the game, which can then be played in Spells of Genesis or Moonga. The cryptocurrency can also be traded on the blockchain, or used for alternative purposes in other games, according to BitCrystals.com.
By existing on the Bitcoin blockchain via Counterparty, BCY can also be traded freely outside the game for conversion into other cryptocurrencies on supporting exchanges, such as ShapeShift and Poloniex.