Bitrace is already an existing British investment company (a member of KJ Holding Corp), which decided to create a whole city devoted to formula 1 with the addition of some components. To do this, they chose a plot of 300 hectares in Hammamet, Tunisia.
The problem with Formula 1 races is that many racing tracks are already quite worn out and their recovery costs a lot of money. In addition, the tracks of formula 1 in Europe do not give the opportunity to hold competitions all year round, because in winter the temperature drops and ice appear on the asphalt, or snow falls, which does not allow for high-speed racing. Also, to hold competitions in the UK, you have to pay a large entrance fee to the fund of formula 1, which every year increases, because of what the conduct of these races becomes unprofitable. So, in 2016, the race held gave only a loss that amounted to 4.8 million pounds sterling.
In Tunisia, you do not have to pay fees for the conduct of motor racing and the possibility of holding races will be year-round. In addition to building a new and high-quality route, Bitrace will provide visitors with several-day races that will be held several times a month, spend time in 5 or even 7-star hotels, two-storey villas, VIP-palaces and other places for residence. In addition, 25 thousand parking spaces, a large golf course, a museum, beach facilities, fine restaurants, Casino, Gardens and other places for pleasant pastime with the whole family will be provided.
Tokens and tokenize Bitrace:
The company will issue 1 billion tokens. 576 million 264 thousand will be available for purchases during the ICO. At the same time, the soft cap project is $ 3 million, and the hard cap is 57 million 626 thousand 400 dollars. The price of one token is 10 cents. The minimum purchase is 100 tokens. At the same time, in the US and the Republic of Singapore, the purchase of company tokens is prohibited. Also, there are additional restrictions on the account of purchases of tokens in China.
ICO will last in 3 stages. From March 25 to April 5, the price of tokens is 10 cents. From April 5 to April 15, the price of tokens is 12 cents. From April 15 to April 25, the price of the tokens will be 15 cents per token.
On the distribution of tokens, we can say the following: 22 percent was available for purchases during the PRE-ICO, 35.6 percent will be available for purchases during the ICO. 20 percent is allocated to the operating activities of the platform. 10 percent is allocated to the founders and management platform. And 5 percent is allocated to advisers. Also, 7.4 is allocated to bonuses during sales.
Distribution of funds – 52 percent is allocated for investment in the construction and development of Formula 1 racing city in Tunisia. 20 percent is allocated for the purchase of a tour operator and resorts. 10 percent is allocated for marketing and promotion of the project. 8 percent for operating expenses. 5 percent for investments in enterprises that will provide their franchises and 5 percent for their marketing and communications.
From 5 January to 25 April will be held ICO. In March, tour operators and resorts will be bought and a layout of the city will be developed. A month after the ICO, platform tokens will be issued to more than 5 major crypto-exchange exchanges, which will lead to their immediate increase in price. In 2 months after the ICO, the construction works of the project will begin, the tokens will enter into more than 10 crypto-exchange exchanges and there will be an opportunity to cooperate with the enterprises whose franchise is being purchased by the project. In 3 months after ICO, the tokens will be on more than 15 large crypto-exchange exchanges.
In the summer of 2018, the real estate of the city of Formula 1 will be on sale, as well as the possibility of buying resort programs for platform tokens. Also at the end of summer tokens will be issued to more than 20 large crypto-exchange exchanges. In October 2018, the company listed on AIM London. In the 4th quarter of 2018, a roadshow will begin in the city to attract new investors and start the racing career of the city.
In May 2019, you will be able to purchase the services of companies around the world, whose franchise is bought by the platform. In 2021, for the platform tokens, you can buy the services of the city of Formula 1. In 2022 the distribution of 20% of the company’s tokens will start, as well as the direction of 10% of the profit in supporting and promoting Bitrace.
In conclusion, I want to say that with the help of Bitrace’s project, the racing world will reach a new level. Indeed, the construction of a resort city, with a lot of entertainment besides the races, will surely attract a lot of tourists with its novelty and extraordinary. And the cancellation of such high duties for this city, which are in other countries and cities, as well as the possibility of year-round races will allocate it among competitors and attract a lot of racing investors. Therefore, join the platform and in a few years, you will receive a high profit from its activities.