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Karate, a global sport that continues to grow, has long lacked a global organization to efficiently manage its many requirements. With the advent of blockchain technology, a team of karate professionals called BoutsPro has emerged to use blockchain technology to manage karate event organizing, education, sponsorships, media, advertising and more.
The worldwide karate community – which includes students, practitioners, teachers, trainers and schools, estimated to total 190 million people in more than 180 countries – has not had the interaction mechanisms to allow a global organization to efficiently manage the ongoing funding of its activities. Blockchain technology presents such a mechanism, as it brings trust and transparency to the management of these activities.
Blockchain technology will also attract the attention of new companies and investors to the karate industry. To this end, BoutsPro will launch its own crypto token, “Bouts,” that will be used throughout the community, as well as people outside the community, such as event viewers, online gamers, sports lovers and advertisers.
Bouts tokens are ERC20 tokens, which enable trading with less risk, more uniformity, reduced complexity and improved liquidity.
A Sport With Unique Needs
Like other sports, karate has a number of organizations that allow people to make athleticism their primary career, which in turn, boosts the sport’s popularity.
Karate, however, has funding needs that are unique from other sports. Every student requires a teacher to guide them in their mental and physical development. The practice of karate, unlike many other sports, cannot be driven automatically by rules without a coach.
BoutsPro’s mission is to bring the community together in a system that will generate revenue from different sources, including member/student registration, tournament sponsorship, event sponsorship, advertising and other activities.
BoutsPro, in partnership with Karate Legends, an organization that has managed world karate organizations, will manage all aspects of karate organizational activity, everything from supporting scholarships to offering sports insurance to creating stadiums, dojos and schools.
Plans include creating a club in which teams will participate in a World Professional Karate League, for which franchises will be available on a revenue share model.
One goal is to establish a registration fee to cover information such as rank and access to events, tournaments and training. Tickets for events and tournaments will be available for sale using BoutsPro tokens.
BoutsPro Internet portals will offer online advertising payable using BoutsPro tokens.
A TV channel will be created in collaboration with QuickMedia and Pozetta Broadcasters of the Czech Republic, which already provides live streaming of video feeds and video-on-demand. Plans are in the works to begin production this year.
Plans include a movie based on karate every year.
The organization is also working on video games, which will provide entertainment and education about karate.
The ICO crowdsale will run from March 11 to 25. From March 25 to 31, the token will list on major exchanges for trading, and on CoinMarketCap.com. The hard cap for the ICO will be 1 billion.
The ICO base price will be 9,000 BOUTS/ETH. Ether will be accepted. The minimum purchase is 0.1 ETH, and the recommended price is 50 Gwei. None of the tokens will be minable.
Unlike other projects, there is neither a pre-sale nor a private sale. The crowdsale is transparent and provides equal opportunity for all to participate. A one-phase ICO listing on exchanges just after the completion of the ICO is the main attraction.
Tokens will be distributed as follows:
• 50% – Public crowd funding.
• 25% – For the karate community on the ICO base price.
• 10% -Development fund, locked for one year in the smart contract.
• 5% – Reward and support for players and trainers.
• 3% – Bounty campaign, including social bounty, bug bounty, translations, giveaway and airdrop.
• 2% – Advisors
• 5% – Reserve fund for future requirements.
Come May, the token will be used for all utilities and financial activities, which can increase its price many-fold.
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from Crypto Currency Online https://cryptocurrencyonline.co/boutspro-taps-blockchain-technology-to-create-karate-eco-system-2/