BitTorrent Ushers in Next-Gen Web3 Infrastructure with Strategic Rebrand and Inaugural BTT Burn
BitTorrent says it burned 21.62 trillion BTT, worth about $7.6 million, on October 16, using revenue from decentralized services in its first quarterly buyback-and-burn cycle. The company says all such revenue will fund future quarterly burns and that it has launched a dashboard for tracking them. It also released a whitepaper describing an expanded ecosystem: BitTorrent Mainnet for peer-to-peer content delivery, BTTInferGrid for decentralized AI computing, and BTTC for cross-chain interoperability, scaling and settlement, all using BTT. The announcement presents these changes as a shift toward Web3 and AI infrastructure and a revenue-backed token model. It also cites BTT’s roughly 30.3% gain over the three months to October 15, without establishing that the burn caused the rise.
