Lifestyle platforms are nothing new to the world economy. The concept of paying for a membership to an organization in order to gain frequent access to the finer things in life has existed for quite some time. But in this revolutionary age of global economics, the newest wave is cryptocurrency. And when it comes to lifestyle platforms, the implementation of crypto-technology to automate, digitize, and decentralize the process seems to be a natural transition.
This automation and digitization of the lifestyle platform is the purpose behind Wisepass Ltd., a Singapore-based company which offers its clientele “daily privileges.” The idea behind Wisepass is relatively straightforward: members will buy a certain amount of currency in order to be a part of the organization, and will then be entitled to certain privileges at participating locations.
As always, consumers should approach any new crypto-business with a certain level of trepidation. This guide seeks to outline the realities, goals, and possibilities behind this Singaporean lifestyle platform.
What Is WisePass?
In simplest terms, Wisepass is a privileged pass. Holders of conceptual ‘stock’ in Wisepass are entitled to free things at participating organizations. Wines and spirits, for example, are complementary to Wisepass holders at certain “five-star bars.” Free hotel stays, lunches, dinners, or coffees are also offered at participating restaurants, clubs, or hotels.
The clearest explanation for the benefits offered to membership holders is on the main company page for Wisepass. The introduction explains that the “monthly subscription” allows holders to have one free bottle, lunch, or dinner every day of the month within select venues. Though it is not clear what exactly is entailed and included in the definitions of lunch or dinner, the site does provide a list of participating locations.
WisePass PASS Token ICO Details
Following the trend of thousands of other cryptocurrency startups in the 21st century, Wisepass allows potential investors to get in on the ground floor by investing cryptocurrency in exchange for tokens, or assets, within the company.
The key difference between the Wisepass ICO and traditional cryptocurrency ICOs is that Wisepass shareholders are actually entitled to some of the same membership benefits that users of the actual service are. This is done through the implementation of the PASS system, which will be explained further in a section below. The main takeaway from the Wisepass ICO is that it allows cryptocurrency holders to invest their assets in a way that directly entrenches them in the Wisepass economy.
As of now, the operating currency of Wisepass is Ether. Ethereum can be spent in order to obtain PASS, which is the way that ICO contributors get involved in all that Wisepass has to offer.
PASS Lifestyle Cryptocurrency Members Coin Uses
PASS functions as an internal cryptocurrency given out to investors in the Wisepass ICO. Out of one billion total PASS tokens in supply, 250 million will be available for purchase, at an exchange rate of 10,000 PASS per ETH.
When fully implemented, PASS offers several benefits to owners. First, the currency can be used to buy into membership and gain access to the opportunities given to regular members of Wisepass’ lifestyle platform. Additionally, the owners of the company remark that several major CEOs are considering implementing PASS as a usable currency to purchase their real-world goods and services.
Wisepass puts a new spin on the old concept of a lifestyle platform. In the vein of bolstering the crypto-economy in their own service, the company’s ICO provides investors with the opportunity to get involved in both the profits, and the offerings, of a Singaporean lifestyle-enhancing monthly subscription service.