The continuous growth of Fitness and Fitness & Sport Centres for the everyday person and professional sportsmen has changed over the past decades. More and more professional sportsman and nonprofessional sport man are changing with technology, and though the Fitness & Sport Centre industry is not always moving with the trends of Digital Technology. These Fitness & Sport Centres do get left behind.
Global sports market – total revenue from 2005 to 2017 (in billion U.S. dollars) The statistic depicts the revenue generated in the global sports market from 2005 to 2017. By 2017, the global sports market was expected to generate revenue of around 91 billion U.S. dollars. In that same year, revenue from the sports merchandising market in North America was expected to reach 14.2 billion U.S. dollars
What is FIT Token. FIT is the first decentralized Fitness and Sport platform, built on top of the Ethereum network. FIT Token is developed to disrupt the Fitness & Sport Industry by developing Smart and Innovative Concepts to suit the everyday person in the Blockchain. Fit Token is a decentralized opportunity for blockchain community members to buy memberships and to make bookings at Fitness & Sport Entertainment Centre from the comfort of their own mobile app or web based platform.
How will FIT contribute the Blockchain and Crypto Currency community.
FIT will take all challenges faced by most Fitness & Sport Centres and combining them in one solution. FIT will take all challenges and create a
(1) Facility’s with sufficient
2) Equipment and a proper userfriendly
3) Management application that is
4) Sustainable and
5) Rewarding for both the Blockchain community and Fitness & Sport Centre.
• Facility’s – FIT is seeking to setup 20 – 30 FIT Centres across the globe in the next 2 years and will seek out applications from members in the blockchain community.
• Equipment – Each FIT Centre will be furnished with the correct equipment that is state of the art equipment. • Management System – The FIT App will be used and adopted in every FIT Centre. Members of the public and the Blockchain community will be able to register, book sessions or purchase memberships from FIT Centres. Token Holders will be able to use the platform to exchange their FIT Tokens. The FIT App will also be Rolled out to other Fitness & Sport Centres who have adopted the concept to decentralize and tokenise the Fitness and Sport Industry.
• Sustainability –FIT create a sustainable and reliable industry by using the Blockchain. • Rewarding – The Blockchain community will have the opportunity to receive rewards in FIT tokens. The more they visit the FIT Centre the more tokens they can collect to be used at any FIT token centre or other Centre who uses the FIT App.
Why Invest in FIT Token?
Decentralized System FIT Token would be a completely decentralized platform and would be utilizing already existing blockchain applications. All user data will be stored on the blockchain as a result the FIT token holder won’t have to worry about the privacy of their digital assets.
No Transaction Costs
No Third-Party Seizure
Anonymity and Privacy
INITIAL COIN OFFERING(ICO) FIT Tokens would be launching its own ICO (Initial Coin Offering) on 24th November 2017.
The ICO period will continue until 24 January 2018 after which token sale will be locked. Locking the token sale would ensure FIT Tokens may not be devalued due to inflation.
ICO is a fundraising campaign which is based on Ethereum Smart Contracts.
To participate in their ICO you must have crypto currency coins, which you will use to buy our tokens.
WHITE PAPER, 1st NOVEMBER 2017 Page 15 of 20 Here is a brief overview of the ICO Parameters:
ICO Parameters Total Token supply will be limited by 400, 000, 000
FIT Amount to be raised – Minimal: 3500 ETH
– Expected: 45 000 ETH
– Maximal: 300 000
ETH FIT Tokens – Token Sale in Pre ICO Sale Our pre-ICO will begin on the 30th Oct 2017 and will run for about 4 weeks until the 30 th November 2017.
In the Pre ICO sale, they would be selling about 10% of the total amount which makes 12, 500, 000 Tokens at $0.10 per FIT.
Distribution of Tokens
1. 200 000 000 FIT or 50% of the total amount will be sold to participants of the crowdsale. This includes tokens available during both pre-sale and main sale. 2. 75 000 000 FIT or 20% of the total amount will be issued to develop the Platform and incentivize key stakeholders, promote the Platform and reward early adapters. Subject to lock down periods. 3. 75000 000 FIT or 20% of the total amount will be used Marketing, Advisors and Owners. 4. 50 000 000 FIT or 10% to be allocated for Rewards for platform users.