Surfing is a highly popular sport in Portugal and all around the world with revenues of between $70 and $130 billion generated annually for the global surfing related industry. However, the industry faces two major problems.
Lack Of Locations And Season For Good Waves
Because there are limited places on earth with waves of equal heights aligned on the same direction, and the unfavorable weather conditions, the best times for the surfers to surf is strictly limited to once or twice yearly. This therefore means in seasons with good waves the oceans are overcrowded with people, making it difficult for the surfer to capture a wave for him or herself. The result of this is that the surfer will require between 6 to 8 years of becoming a professional surfer.
Costly Nature Of Training
Currently, to become a professional surfer an individual requires to have a minimum investment of around 750 Euros and this amount excludes the monthly spend and investment in better equipment that will enable the surfer to increase their skills level.
How Does LIPCHAIN Help?
LIPCHAIN is a decentralized ecosystem that seeks to address these challenges and provide surfers with sponsors, unofficial competitions, and year-round training. LIPCHAIN also provides a platform where surfers can earn tokens for participating and practicing their favorite sport while contributing to the objective of cleaner oceans.
The community will also offer users with access to the global surfing and sailing community and the necessary tools required in selecting an athlete for sponsorship and providing the sponsor with smart contracts for securing the deal.
Solutions Provided By LIPCHAIN
The platform will develop an app specifically suited for surfers and sailors, integrated with a decentralized social network. The Network enables surfers to post their videos and photos and be compensated using tokens. The amount of tokens received depends on the community ratings of the video or photos. Surfers can also earn tokens by participating in contests organized within the application.
Additionally, the relatives, friends, and family of the surfer can film the surfer during competitions and trainings and earn money, which is sharable with the filmed surfer.
LIPWAVE Pool Centre
The pool will offer all year round Olympic training conditions for the surfers since the pool will be able to generate waves every 6 to 8 seconds for more than 1000 surfers per day. The pool will enable surfers to reach the professional level ten times faster. In the future, an ecological resort will be built around the pool.
LIPCHAIN will collaborate with surfboard producers to create ecological surfboards that are environment friendly. LIPCHAIN will further improve the environment by allocation part of the revenue generated to charity organizations the clean oceans and beaches.
To be part of the ecosystem, users can purchase the tokens during the token sale. The tokens are used in all activities within the LIPCHAIN community, to pay for advertisements, training, and membership in the LIPWAVE Pool Centers, sponsorships and to purchase discounted surfing products.
Parameters Of The ICO
- Token: LIPS
- Token protocol: ERC20
- Total tokens: 1,000,000,000
- Tokens for sale: 210,000,000
- Token Sale Date: March 21 – November 15, 2018
- Soft Cap: 3,000,000 USD
- Hard Cap: 20,000,000 USD