With the blockchain technology receiving more and more traction every day, new brands are coming up in the market with interesting concepts build/to-be-built on blockchain platform that will revolutionize the world.
We have, in the past, talked about some of the Initial Coin Offerings (ICOs) and today, we will be deep-diving into another promising one, which has been named, 'BEAT'.
In order to give you guys a brief idea of what BEAT is, let's start with a pretty simple question - Do you love doing sports activities? The obvious answer will be 'Yes' and a follow-up answer can be - 'Yes, but there is no time for it due to busy life'.
However, imagine if you got paid for playing sports and several other fitness activities? Sounds amazing, right? Well, that is what BEAT is going to do for you.
Sports is something that everyone ought to indulge in, and since the rise in inactivity among the humans is increasing every year, sports have become more important. Being indulged in sports stimulates our mind apart from keeping us fit and healthy. Athletes tend to have higher levels of discipline and have more self-control than the average human being, which is evidence of the benefits of participating in sports. To encourage people to accept sports as a part of their life and to provide them with an incentive to participate in sports, SportAlliance has come up with a new platform. A network of companies, SportAlliance intends to unite all sports participants and sports providers and also to encourage and to motivate people all over the world to participate in sports.
About SportAlliance
Magicline GmBH, MySports GmBH, EuroFit24 GmBH and Bedarf.de GmBH, together make up SportAlliance, which also includes Gymlab and NoExcuse. Magicline GmBH is a leading software provider for management in the fitness industry. Thousands of facilities in Germany alone are using their product Magicline. For financial and administrative services, EuroFit24 is an indispensable tool for managers and owners of fitness facilities. Bedar.de GmBH is an online store that satisfied the needs of the fitness community in Germany. NoExcuse is run by MySports GmBH, where users can access and manage their data on Magicline. It will act as a BEAT wallet for mobiles. Gymlab is where all the technologies are tested and made sure that they are ready for introduction.
How to earn BEATs?
The motivation comes from the fact that one can earn BEATs by doing sports. BEATs is a currency which can be used efficiently within the fitness ecosystem set up by SportAlliance which consist of equipment suppliers to gym centers.
When a user does sports in a center that includes technology by the partners or uses equipment that is supported by the system, BEATs are earned, for example, if the user does lift ups or running while using a sensor that is supported, they can earn BEATs based on the tariff. As mentioned before, the NoExcuse app is a wallet for storing BEATs, where the user can view all the developments and can track all activities, while being connected on a global scale.
For dedicated athletes and long-time users will get extra BEATs based on the mechanism designed. One of the mechanisms to offer BEATs and regulate the amount is the BEAT levels. Every user will begin at level 1, and while they regularly participate, their levels will increase to up to level 4. At level 4, the athletes will get four times the number of BEATs. The amount of sports needed to be done for a particular level, the entire ecosystem will be analyzed for the total amount of sports available. Based on the analysis, athletes can earn BEATs as they regularly participate. In case, participation does not happen, the value of BEATs earned will decrease over time, and they will be shifted to a lower level.
BEAT's listing on trading exchanges
Soon after the ICO, BEATs will be listed on the global platform on all major exchanges. Earning BEATs will be fairly easy in the beginning, but gradually the amount of work to be done for the same number of BEATs will increase to avoid flooding of the market. As the number of BEATs being added to the market decreases, the value of the individual BEATs will increase.
How to use earned BEATs?
The BEATs earned by the athletes can be used for any transaction within the entire ecosystem. The athletes can use BEATs to access or buy any service or products from companies and their partners which are a part of the SportAlliance.
BEATs and Ethereum
During the ICO, a fixed number of BEATs will be distributed among the participants, and they will have instant access to it just after its launch. BEAT will be listed on all major exchanges by SportAlliance soon after the launch, and the exact dates of starting of trading will be informed as soon as possible.
The BEAT token is fully in compliance with ERC20 and so can be seamlessly be transferred on the Ethereum blockchain. Selecting Ethereum enhances the token by making use of the present architecture and also the various wallets and other services related to Ethereum.
Currently, the rate of one BEAT token is 0.01 Euro. The ICO will continue until May 15th, 2018 and the tokens will be offered on the basis of first-come-first-served. Early users will receive bonus starting from 75%, and the tokens will be issued as soon as the contributions are received.
There will be total of 230,000,000,000 BEAT tokens in existence.The BEAT tokens are intended to be allocated as follows:
How to get 100 BEAT tokens (worth ~1 Euro) for free?
1 . Visit here
2. Register for a new account
3. Visit here
4. Click on 'Telegram Bounty' and get your 100 tokens by completing the required process.
Happy earning! Don't forget to join BEAT on Telegram | Facebook | Twitter