This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.
Real economy sector business BoatPilot has announced their token generation event, starting April 1st, 2018. The event will be capped at $9,850,000 USD, with the funds raised by the token sales being used for business expansion. This public TGE follows a successful private sale that raised over $1,000,000 USD.
Cyprus based company BoatPilot is a vendor of hardware navigation solutions and a developer of the market’s first mobile platform. This platform combines navigation, booking, and advertising services for private and charter yachting. BoatPilot have six years experience as a real economy sector business, giving it prestige over fintech startups holding similar TGE events. The international token distribution campaign is being held to fund business expansion across the Caribbean, The US and Asian markets.
BoatPilot: A Marine Navigation System
It is a rare occurrence for the crypto market to see a TGE held for a real economy sector business like the event BoatPilot are holding. Since 2012, BoatPilot has found popularity by combining features of a classic chart plotter and an interactive pilot with the additional ability to interact with other app users. Those registered with BoatPilot can add comments and review content, in a similar way as with TripAdvisor. BoatPilot acts an all-in-one navigation service via the interactive electronic pilot and navigator, with an additional augmented reality mode support.
The application connects thousands of potential clients to yachting services and industry related companies. The main advertising features of BoatPilot target the user’s interests, demands, and geolocation. BoatPilot offers a comprehensive advertising solution, that knows even when the user’s vessel needs an oil change.
The same company is also the founders of BoatGod and Pocket Skipper. Boat God offers a sophisticated hardware model for gathering statistics from onboard systems and aggregating geolocation data. Pocket Skipper works as an online advertising marketplace for booking and selling yachts, as well as reserving marinas and finding tour offers.
More than 50 thousand users downloaded the Android and iOS versions of the BoatPilot application. Internal statistics released by BoatPilot revealed the app had been used to navigate over 4,700 yachts. The company also holds exclusive rights to book vessels from over 1,000 companies across Europe.
The NAVI Token
BoatPilot ’s native token NAVI was first released for a private pre-sale on January 9th, 2018.
The TGE public sale is set to begin on April 1st, with a Soft Cap of $3,920,000. and a Hard Cap of $9,850,000. The face value of the NAVI Token is $0.07 USD, with a maximum quantity of 281,737,610 NAVI tokens with the potential to be issued. Any remaining tokens left unsold will be burnt when the crowdsale is over.
To gain further traction to the NAVI token, all users who share their geodesic and cartographic data that is recorded by their onboard computers while sailing will receive tokens as a reward. The number of tokens awarded will be proportional to the amount of data shared. This also assists in keeping the BoatPilot chart system up-to-date for users, as the company has a strong record on accurate geo-data.
BoatPilot have released a disclaimer stating that they cannot guarantee an instantaneous purchase of the NAVI bonus tokens, as this is dependent on the company’s current finances as well as the volume of liquid assets at the time the tokens are requested. They have however assured customers that they will do everything possible to ensure that Navi tokens will be traded on as many large exchange platforms as is possible.
NAVI tokens will, however, be available on all major exchanges, providing a unique opportunity for yachtsmen to buy and sell their tokens.