A fair few of renown crypto startups in the crypto-sphere have had their sights set on BitTorrent prior to its acquisition by Justin Sun of Tron.
CoinDesk has found that as well as Neo and Tron, blockchain governance-focused project Icon, the developers of Filecoin and Protocol Labs also started talks with Bittorrent to explore a purchase.
People who are aware of the negotiations say that there were two more parties involved that were interested in the peer-peer file-sharing company. Both of these parties were based in the blockchain space. Sources have not indicated that any companies that weren’t in the blockchain space were showing any interest.
The creator of Tron, Justin Sun prevailed and acquired BitTorrent as was reported in June by Variety.
The software by BitTorrent has sort of paved the way for today’s efforts for heading towards a decentralised internet. However, even so, the business has famously had struggles with creating a profitable company. In the late months of last year, BitTorrent lost its founder and that creator of its most crucial technologies, Bram Cohen. Cohen went onto found Chia, and with the hopes of developing a more eco-friendly process for mining crypto.
Tron hasn’t gone into why they have acquired BitTorrent, though observers have speculated that Justin Sun saw the 100 million plus of users a month as an opportunity he could not resist.
But there are reasonings behind why other companies were interested in BitTorrent.
Protocol Labs saw value in the user base while sources say that Icon were intrigued to build on the BitTorrent software into their blockchain.
However, neither of these companies made an offer to BitTorrent.
Neo Global Capital spoke to CoinDesk regarding the subject and said that they could develop a decentralised file storage protocol which would be useful for dapps within the ecosystem blockchain.
Ben Lebeau, the crypto lead at Sandwich Video, believes it isn’t difficult to see why BitTorrent was a must have.
“I think you’d be hard-pressed to find anyone who would doubt the impact that BitTorrent had a file sharing decent content delivery networks and other centralised alternatives existed.”