The complete and detailed history behind the Blessed Shield was posted a year ago on YouTube by Revel.
Here: A História do Blessed Shield by Revel
The video is really well made and the subtitles are available for non-english speakers.
Enjoy.
Right now the Blessed Shield has 40 armor, but its first edition had 50 armor.That statistic was changed in patch 7.0 (28/08/2002).It remained the best shield (by armor statistic) for 16 years.In summer update in 2018, the Falcon Escutcheon was added, which had the same amount of armor. The one and only player who received blessed shield was Elleshar. He was granted this treasure for his contribution to Tibia's graphic designs development.For all these years the Blessed Shield was sold many times between players but as one of colleagues has mentioned in here, the current owner of shield is TC reseller - Rei de Lutabra.
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