Marine Navigation App BoatPilot Launches its Token Generation Event

Updated 2 months ago by Maria Konash · 3 min read

BoatPilot, a free marine navigation app focused on private yachtsmen and charter companies, announced the worldwide launch of its token generation event (TGE) to take place on April, 1st.

Cyprus-based hardware navigation solution and a developer BoatPilot has announced the worldwide launch of its token generation event (TGE). The blockchain-based startup has developed the market’s first mobile platform that combines navigation, booking, and advertising services for the private and charter yachting.

BoatPilot will start its token crowdsale on April 1, 2018. The target 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.

BoatPilot: a Marine Navigation System

An advertising marketplace application designed by BoatPilot, with the intention of booking and selling yachts, Pocket Skipper can be used for reserving marinas and searching for fellow passengers and tour offers. Pocket Skipper currently has over 50 thousand downloads over both the Android and iOS platforms.

The app was used to navigate over 4,700 yachts in 2017 and the company project this number to increase this year. BoatPilot currently reserves the rights to book vessels from over 1,000 companies across Europe and have finalized contracts with numerous other service companies.

For the record, apart from  Pocket Skipper, BoatPilot, as an all-in-one navigation service, is the developer of BoatGod – a hardware module for collecting statistics from onboard systems and aggregating geolocation data.

In an industry build around the ever-ready supply of goods and services BoatPilot has concentrated its advertising efforts on its clientele interests, demands and geolocation. Previously the majority of yachting-related SMEs did not possess the necessary tools to promote their services to their desired clientele in a direct, efficient and affordable manner. BoatPilot aims to offer a fully comprehensive solution to this industry problem.

An Already Massive Market

There is currently a huge sea of untapped potential, everything from the most current mobile tracking features to accurate charts, to map updates could stand to see considerable improvement. BoatPilot incentivizes the global yachtsmen community to update their charts, though the simplistic nature of it’s design. Seafarers can add some extra content to the database in real-time, with just a few clicks on their smart device.

Due to the efficiency and intuitive design of the app, the project has now achieved full coverage of the Mediterranean and has the most accurate database on the market, with over 4,000 marinas. BoatPilot’s hundreds of key geotags are more accurate and have more detailed descriptions than those solutions, which have been the top dog for many years.

The Native NAVI Token

The TGE will start on April 1st, 2018. with 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 crowd sale is over.

To keep on top of their game, BoatPilot 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 dispersed depends on the amount of data shared.

BoatPilot is not about to promise the instant purchase of the NAVI bonus tokens yet, but has promised to do everything possible to ensure that Navi tokens will be traded on a large number of exchanges.

Blockchain, News, Token Sales
Maria Konash
Author: Maria Konash

Being a successful graduate of Belarusian State Economic University (BSEU), Maria has acquired competencies in economic and social studies. Given Maria’s previous research working experience, and desire to explore what's really shaping the future, the main research focus is placed on FinTech and Blockchain Technology.

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