TeamMate ICO (TMT Token): Blockchain Gamified Fitness Data?
We are witnessing an evolution in healthcare with the emergence of fitness-related data. This data is closely being associated with true health and has surpassed traditional health data in reliability. This has given rise to a new market, that is comprehensive care. The Global Health Market is on the rise and is projected to double over the next five years. 2016 marked a year in which mobile health and fitness apps were downloaded over 3.7 billion times creating over $118 billion USD in value.
What Is TeamMate?
TeamMate wants to optimize the Global Health market category by creating an e-commerce ecosystem that plugs into the mobile health and fitness landscape of the future while providing meaningful improvement in the quality of human life.
This ecosystem is built on incentive and verification systems that utilize three powerful mechanisms to achieve transparency and athletic evolution, namely, gamification with TeamMate Tokens, consensus algorithms via smart contracts, and human verification via social athletic activity. This gamified digital universe allows TeamMate to generate, collect, organize and share data in a way that maximizes its utility to both the users who provide the data and a health and fitness industry that depends on it. This is TeamMate’s blockchain solution.
TeamMate TMT Token ICO Details
TMT is an ERC223 token empowered by Ethereum blockchain that provides access to the TeamMate Blockchain Solution. TeamMate Tokens are earned by users as compensation for their data and can be used to purchase a range of health and wellness goods and services via TeamMate’s Token Release Contract by locking in their TMT tokens in exchange for monthly bonus tokens.
A total of 1 billion tokens are available with a hard cap of 15 million USD and soft cap of $500,000 USD. The base conversion rate for the token is 1 USD = 24 TMT.
The distribution of the tokens will be as follows:
- 20% of the token pool will be retained for growth and enhancement of the platform
- 7.5% of the token pool will be distributed to the team, advisors and the ambassadors.
- 16% of the token pool will be sold in the Pre-ICO token sale.
- 21% of the token pool will be withheld until completion of TeamMate Network
- 1.5% will be used to incentivize TeamMate Token ambassadors
- 34% of the token pool will be sold in the ICO token sale.
The funds raised will be utilized in R&D(32.5%), Partnerships and Incentives(20%), Marketing(20%), Operations(17.5%), Advising(7%), Legal and Compliance(2%) and Bounty Program(1%)
Whitelist starts on April 1st, 2018, Pre-sale on May 15th, 2018 and ICO starts on June 10th 2018.
TeamMate Blockchain Gamified Fitness Data Conclusion
TeamMate is the first fitness platform to utilize blockchain technology to capitalize on data as a vital sign. They want to serve as a global database to connect local and corporate fitness facilities. They have a state of the art smart contract that automates the whole operation and a user-friendly mobile app to be the perfect user front.
More information about the platform and its tokens can be found on teammate.ai/ .