The cryptocurrency market in March 2016 is witnessing an unexpected phenomenon that extends far beyond the familiar narratives of Bitcoin and Ethereum price movements. BitCrystals (BCY), the native token of the upcoming blockchain-based trading card game Spells of Genesis, has surged to its all-time high, signaling that a new category of digital assets is capturing the attention of both gamers and crypto investors alike.
TL;DR
- BitCrystals (BCY) reaches its all-time high price in March 2016 ahead of Spells of Genesis launch
- BCY is a Counterparty asset built on Bitcoin’s blockchain, powering the first blockchain trading card game economy
- Switzerland-based EverDreamSoft combines trading card game mechanics with true digital ownership via blockchain
- BCY token launched at 0.00006667 BTC per token, incrementing every five days to 0.0001 BTC during the ICO
- Bitcoin trades at $410.44 while the broader crypto market cap hovers around $6.5 billion
From Presale to Peak: BitCrystals Defies Expectations
When EverDreamSoft conducted the initial BitCrystals token sale, the price was fixed by the developers and increased incrementally over time. The token started at 0.00006667 BTC per 1 BCY, with the price adjusted every five days until reaching 0.0001 BTC per BCY at the conclusion of the sale. Once the fixed-price period ended, market forces took over — and the results have been remarkable. By March 2016, BCY has reached its peak valuation, driven by anticipation surrounding the full launch of Spells of Genesis originally slated for April.
The token’s mechanics are straightforward but innovative. BCY exists as a Counterparty asset on the Bitcoin blockchain, meaning each transaction is secured by the same proof-of-work network that underpins Bitcoin itself at $410.44. Users can trade BCY on ShapeShift, the popular instant cryptocurrency exchange, providing liquidity and accessibility that few gaming tokens have achieved at this point in the market’s evolution.
Spells of Genesis: Where Gaming Meets Blockchain
Spells of Genesis is not simply a game with a cryptocurrency attached as an afterthought. The Switzerland-based EverDreamSoft designed the entire experience around blockchain technology, both as a mechanical backbone and as a thematic element within the game’s storyline. Players collect cards, compose teams, and battle enemies using different character strengths and spells, with the twist being that certain high-level cards can be “blockchainized” — tied to tokens that allow players to extract them from the game and trade them on the open market.
This concept of true ownership in digital gaming was the brainchild of EverDreamSoft CEO Shaban Shaame, who previously developed Moonga, a popular online card game that surpassed 250,000 downloads on the App Store. Shaame observed that Moonga players were already trading in-game cards outside the game’s ecosystem, despite rules prohibiting such activity. Combined with his belief in Bitcoin and blockchain technology, the idea of creating a game where digital asset ownership was a fundamental feature — not a workaround — took shape.
The Counterparty Connection: Digital Assets on Bitcoin
The technical foundation enabling this new category of gaming assets is Counterparty, a decentralized platform built on top of the Bitcoin blockchain. Counterparty extends Bitcoin’s functionality to include smart contracts and custom token creation, making it possible to create and trade digital assets without building an entirely new blockchain. The first blockchain trading card, known as FDCARD, was released on March 11, 2015, on the Counterparty platform — predating the wider NFT movement by several years.
With Bitcoin maintaining its position above $400 and Ethereum trading at $10.53 following the recent Homestead upgrade on March 14, the broader cryptocurrency ecosystem appears increasingly receptive to new applications of blockchain technology. The total cryptocurrency market capitalization stands at approximately $6.5 billion, with Bitcoin commanding roughly $6.3 billion of that figure.
Market Dynamics and Future Outlook
The BitCrystals rally comes at an interesting juncture for the cryptocurrency market. Bitcoin has been steadily climbing in early 2016, building momentum ahead of its anticipated second halving event expected in July. The growing interest in blockchain applications beyond simple payments — from smart contracts on Ethereum to digital collectibles on Counterparty — suggests that the market is maturing beyond its initial focus on currency use cases.
Markéta Korteova, EverDreamSoft’s marketing director, emphasizes that Spells of Genesis stands apart from other blockchain gaming projects due to its complexity and integrated design. The blockchain technology serves as both the infrastructure for the game’s economy and the inspiration for its narrative, creating an experience where the medium and the message are one and the same.
Whether BitCrystals can sustain its valuation through the game’s eventual launch remains to be seen. A recent announcement of a delayed release date caused a slight dip in BCY’s price, though it has since begun climbing again. What is clear, however, is that the intersection of gaming and blockchain is no longer theoretical — it is producing real market activity and attracting genuine investor interest at a time when the broader cryptocurrency space is still finding its footing.
Why This Matters
BitCrystals and Spells of Genesis represent a pivotal early experiment in what would eventually become the multi-billion dollar NFT and blockchain gaming industry. The fact that digital gaming assets were already commanding real market value on the Bitcoin blockchain in March 2016 — months before the DAO hack brought Ethereum to the mainstream consciousness and years before CryptoKitties — demonstrates that the demand for verifiable digital ownership predates the hype cycles that followed. Every modern blockchain game and digital collectible platform owes a conceptual debt to the pioneers who proved that pixels could hold value.
Disclaimer: This article is published for informational and educational purposes regarding historical events in the cryptocurrency space. It does not constitute financial advice. Readers should conduct their own research before making any investment decisions. Past performance is not indicative of future results.