March 7th, 2018 at 5:47 am UTC · 5 min read
BoatPilot, a vendor of hardware navigation solution and a developer of the market’s first mobile platform that combines navigation, booking, and advertising services for the private and charter yachting, announces the worldwide launch of its token generation event. With six years of successful real economy sector business, BoatPilot will start its token crowdsale on April 1, 2018. The TGE is to raise $10 mln through a token distribution campaign. Funds raised will be used for further business expansion to the Caribbean, the US, and Asian markets.
TGE of a real economy sector business is a rare event for the crypto market. Founded in 2012, BoatPilot is a marine navigation system that combines features of a classic chart plotter and an interactive pilot with the opportunities for users to add comments and correct content from other users, similar to Google Maps and TripAdvisor. BoatPilot is an all-in-one navigation service (interactive electronic pilot and navigator) with augmented reality mode support. Additionally, the company produces BoatGod – a hardware module for collecting statistics from onboard systems and aggregating geolocation data; and Pocket Skipper – an advertising marketplace application. Pocket Skipper was designed for booking and selling yachts, reserving marinas and searching for fellow passengers and tour offers.
With headquarters in Cyprus, BoatPilot has offices in Montenegro and Panama with its R&D center located in Russia. More than 50 thousand users downloaded the Android and iOS versions of the application. In 2017, BoatPilot was used to navigate over 4,700 yachts. The company has exclusive rights to book vessels from over 1,000 companies in Europe and signed agreements with several charter and service companies.
BoatPilot offers opportunities to yachtsmen and enterprises, placing thousands of potential clients in reach of yachting services and industry related companies. BoatPilot’s main advertising feature is targeting based on users’ interests, demands, and geolocation. “Unlike many other industries, the yachting industry mainly supports the “here and now” demand. Until now, thousands of yachting-related SMEs had no tool to promote their services to their target audience in a “dead on target”, innovative, and affordable way. Today, BoatPilot offers one comprehensive advertising solution. Our solution even knows when the vessel needs an oil change and where the crew can find the nearest service station,” states the company’s CEO Artyom Borodin.
BoatPilot has a 6-year track record of a stable and mature business, and its win-win business model is backed by the extensive experience of the company’s founders and team. With the ambition to make its services available to the international yachtsmen community, the company counts on a successful token distribution campaign which will offer token holders true value.
MarketsandMarkets estimates total marine navigation market size to be $74 billion. The largest regions with the fastest growth rates are Asia (CAGR of 3.36%) and Latin America (CAGR of 3.30%). BoatPilot plans to capture 2.5% of the charts market by 2019 due to charts licensing and 1.5% of the advertising market through geo-targeted adverts sales.
Today, marine navigation systems lack up-to-date mobile features, charts accuracy, timely updates and users’ possibilities to comment and improve charts. Due to the fact that BoatPilot attracts the global yachtsmen community to enhance its charts, with a couple of taps a user can add any content to the database in real-time, or check the reliability of other users’ content. As a result, the project quickly reached full coverage of the Mediterranean and has the most accurate database: more than 4,000 marinas versus 1,800 listed by its closest competitors. Hundreds of key geotags are more accurate and have more detailed descriptions than those of systems that have been on the marker for decades.
The NAVI token presale started on January 9th, and has the minimum entry amount of $25,000. The TGE public sale starts April 1. The TGE has a Soft Cap of $3,920,000. and a Hard Cap of $9,850,000. With the face value of $0.07, the maximum quantity of 281,737,610 NAVI tokens will be issued and all the unsold tokens will be burnt after the crowdsale is over.
As BoatPilot evolves and gains traction leading the market with its already outstanding services, Boatpilot has an uncompromised view on Geo-data, this being an important element of the system. In order to keep all BoatPilots charts up-to-date, the company will be giving out their native NAVI token to all users who share their geodesic and cartographic data that is recorded by their onboard computers while sailing. The number of tokens awarded will be proportional to the amount of data shared.
BoatPilot reserves the right to use any such data within their interface and will aim to consolidate this for their permanent access. BoatPilot cannot guarantee instantaneous purchase of the NAVI bonus tokens, as this will depend on the current financial state of the company, the volume of liquid assets, any strategic or tactical tasks, as well as any other circumstance. BoatPilot will do everything possible to ensure that Navi tokens will be traded on a large number of exchanges.
BoatPilot has an outstanding natural and logical business model will see the company in go stead. This will create a great investment opportunity.
NAVI tokens will be available on major exchanges, giving yachtsmen the opportunity to buy and sell, with users given the opportunity to sell back the token to BoatPilot in order to fully own their Geo-data, which creates fertile grounds for growth for all TGE participants.