AMA RECAP: GoMeat x Cryptotalkz
Rewards Pool: $50 GOMT
DATE : 9 September 2022
TIME: 4:00 PM UTC
VENUE: Crypto_Talkzs
Caitlyn:
Welcome to another exclusive Crypto Talkz AMA
Hello Waqas and Hamed. It’s a pleasure to have you here, thanks for joining us :)
Waqas:
Pleasure is all ours! Thank you for having us here!
Caitlyn:
How’s your day going sir?
Waqas:
awesome! great weather in New York!
Caitlyn:
Cool!
So, without making a delay…Let’s start our AMA with
Introduction:
Waqas:
let's do it!
Caitlyn:
Alright! Let’s dig into it!
Alright! So here’s our first question for starters!
Could you please introduce yourself to our community? also the team behind GoMeat Token and how your experience has led you here?
Waqas:
Yeah! Sure! my name is Waqas Siddiqi and I am the Co-Founder and CEO of GoMeat! I have 20+ years of experience in setting up and managing technology consulting practices worldwide and leading digital transformations in some of the largest companies in the world — I started my career in South East Asia and after working in the Middle East and Europe for a few years, I am finally based in New Jersey in the USA.
I’ve been working in the tech space for a long time and I was truly fascinated with the concept of blockchains and the enormous potential it offers to solve many everyday problems of billions around the world. GoMeat idea came in 2017 from living through a genuine problem faced by billions every day related to sourcing authentic Halal and Kosher meat, food, and groceries. We wrote our first white paper then but before any ICOs we wanted to prove the concept and business model first and learn firsthand. Fast forward to 2022, after a 100% sold-out ICO last year, GoMeat is now just not an idea but a revenue-generating company operating in 26 States in the USA with 1500+ stores!
Caitlyn:
That’s very impressive!
Waqas:
I've been supported by our Co-Founder Syed Hamed Ullah who brings tons of tech experience and is our CTO and brain behind blockchain development. We are supported by an amazing professional team from Customer Services & Operations to Marketing and Sales, Stores & Driver OnBoarding, Finance, and other Corporate functions. We are a team of about 15 resources supporting GoMeat and its expansion plan execution over last few years — you can have more info for each team member from our website www.gomeat.io
Caitlyn:
Awesome! Heading to our second question…
Can you please briefly explain about GoMeat Token And What makes GoMeat Token different from others with the same concept in the space?
Waqas:
with pleasure… GoMeat is a blockchain-based online ordering and home delivery service connecting consumers with specialty (halal & Kosher) meat stores and restaurants since 2019. Buying/finding specialty (halal & kosher) meat and food can be a very chaotic experience and it is even more difficult in Western countries where it’s not readily available in normal stores.
GoMeat’s mission is to empower specialty stores and bring convenience to such customers. Despite the niche, its $32 billion market in the USA only and about $1.8 trillion dollar market globally which is growing at a rapid pace, over 90% of specialty stores have no online presence. We started our operations in 2019 and since then we have onboarded 1500+ stores and are present in 26 States of the USA. We have processed 11k+ orders to date serving about 7000+ customers and growing rapidly.
A major issue that specialty consumers face is uncertainty when it comes to specialty certifications. To combat this, GoMeat will be launching an in-app blockchain-based specialty meat certification so consumers can make informed choices about the meat they are buying. GoMeat Token is a deflationary utility token with a limited supply of 5 million with only 2 million in circulation. We successfully completed the ICO last year and raised funding solely focused on our expansion as per the global expansion plan — more details in our whitepaper. Some utilities of GOMT Token include:
- Place meat, grocery & food orders using GOMT
- Get free delivery & discounts
- Get 1% cashback on all orders
- Earn GOMT through our referral program
GoMeat is the FIRST blockchain-based online ordering and delivery service, NOT just a far futuristic idea but in real operations in 26 States in the USA since 2019 with 1500+ stores on the platform, 5000+ customers, already in the revenue-generating state, generating over $1 million in gross volumes since inception. We are solving a real-life everyday problem of billions of consumers of halal/kosher meat food and groceries via blockchain. We will have our presence in Metaverse by end of Sep this month where customers can actually order, socialize, interact and enjoy. We only have 5 Million GOMT Total supply with only 2 million in circulation with deflationary tokenomics.
Caitlyn:
Sounds unique!
On to our next question…
What is your marketing strategy to increase the validity of your project brand? Are you planning a strategic partnership to level up your project?
Waqas:
We are focussed on growing our fundamentals and executing our expansion plan. We are on track to hit the 2000 stores onboarding target by end of the year. At the same time, we have been sponsoring major events like Consensus 2022 GoMeat at https://youtu.be/nvS9bhcCyQA where we were very well received and created a significant buzz, and as well as Food on Demand conference where we stood shoulder by shoulder with industry giants like Uber Eats, Doordash, Grubhub, etc. We have a strong customer base and also a strong and fabulous community of our GOMT Token holders.
Caitlyn:
Wow, 2000 stores!
Waqas:
Our stakeholders are our numerous GOMT Token holders with a fabulous community, our 5000+ ordering customers, our 1500+ stores, drivers, and certification boards… with this wide spectrum, we have a marketing strategy divided into each of those groups — as we sponsored even for Food on Deman in Las Vagas with Uber Eats and DoorDash and Grubhub and at the same time we present ourselves in Consensus 2022 which was a great success!
Caitlyn:
Those are pretty great and enormous numbers! Really something to be proud of!
Waqas:
Thank you!!!! Yes, we are very proud of what we have created and are highly positive to unleash the future potential of our platform :)
Caitlyn:
That’s very great and impressive!
Let’s head to the next question!
Can you share the achievements the team have made so far ? What are the major achievement target GoMeat Token is yet to achieve. If possible also share your roadmap.
Waqas:
absolutely! while I write the huge list of achievements you can enjoy a quick video coverage of our last event!
https://twitter.com/GoMeatToken/status/1523796305637953536?s=20&t=BhfKy9Qa8-MqV34UDPWmDw
Caitlyn:
Chat, also please take your time to check this out!
That looks like a very successful event, A FIRST CLASS service indeed.
Waqas:
We have come a long way in the last 5 years! We have learned a lot and we have achieved a lot. Following are some of our key achievements so far :
2019 — Pilot Phase
- MVP Built & Pilot (US) store launched
- GoMeat Platform upgraded
- Multiple stores added in New Jersey USA
- GoMeat Team Expanded
- E2E Processes Optimized
2020 — Growth
- 8K+ App Downloads, $300K+ gross volume
- Team Expanded to 20+ members
- Advanced technology platform launched
- Midwest USA expansion, 150+ Stores
2021 — Phase 1 Expansion
- 600+ Stores
- GoMeat Volume $630k+
- GOMT introduced in Q3
- GOMT ICO sold-out
- GOMT listed on Hydra DEX
2022 — Phase 2 Expansion
- 2000+ Stores
- GOMT listing on CEX
- Crypto wallets Integration
- GoMeat Meatyverse Launch
Future Roadmap
2023 — Phase 3 Expansion
- 3500+ Stores
- GoMeat Gross Volume $3+ Mil
- Blockchain Certification Integration
2024 — Horizontal Expansion
- Global Expansion
- 10k+ Stores
- GoMeat Volume $4.5+ Mil
Please refer https://gomeat.io/gomt for more details
Caitlyn:
That’s a long run! And obviously, GoMeat still has a long way to go!
Very great! Heading to our last question in this segment…
Is there any bullish information that hasn’t yet been made public that you can share with our community for ‘exclusive’ news before we wrap up our first segment?
Waqas:
Haha! Good question! Yes! We have some exciting updates coming up for GoMeat but unfortunately, we will not be able to share them at this stage. I will suggest all follow our social media for the latest.
Caitlyn:
Surely we will!
Thanks for that well-detailed introduction about GoMeatToken.️
I guess Chat is excited to know more about GoMeat Token
Shall we head to the last segment-
Live Q&A
Waqas:
First of all, in all my AMAs I have never seen such a large number of very relevant questions so huge kudos to this community!
Temitope:
Hello, I want to know, what are the listing plans for $GOMT token, what popular DEX /CEX do you plan to list $GOMT on?
Waqas:
We are already listed on BiTMart and in conversations with a Few Tier 1 Exchanges which I cannot name at this time — we will be listed on Uniswap — infact our Exclusive sale is ongoing and pls visit https://www.pinksale.finance/launchpad/0x64DC564274eBcD1C3fBc3ecdecc82922A111Ff3E?chain=ETH to learn more
Jakob:
GOMT works on HydraChain. And as you know Hydra Coin was offering up to %180 APR at the beginning of staking. At the beginning of Hydra Coin, that amount of high APR led people to be bullish about Hydra, so Hydra went to the Moon(ATH=52.458). In spite of this APR increasing over time (~%47 right now), buyers had bought a great amount of Hydra and staked them. Then sell them as low as funny prices bc they’ve bought these coins for almost $1. I know, the market is in crash rn. But hydra couldn’t handle the inflation problem, which they’ve promised to keep the coin deflationary. Yes, there is a burning mechanism; for every tx, GOMT burns some token. But can you handle this? On one hand is burning, on the other hand, burning mechanism (as hydra) How do you suppose to keep GOMT deflationary with staking?
Can you elaborate?
Waqas:
Great question: if you study our Tokenomics we have only 2 million GOMT in circulation and the total supply EVER is 5 Mil GOMT — we are burning 4% of every order which is visible and tracked after each order in our TG group via BOT Meaty! We are creating a circular economy where a customer will order using GOMT, Stores will be settled in GOMT and drivers will be paid in GOMT besides rewards for better service to customers (core utility of our token) next year our burn rate will increase to 5% and the burn will increase eventually to 8% if we hit a certain gross volume! With these principles, we strongly believe that our token value will remain consistent driven by natural and real factors rather than using any artificial means — even since launched we have outclassed many cryptocurrencies in real terms and have been holding quite steady so far in this crypto winters! Pls visit our group for more questions
Tom:
Asides from the $GOMT token, can we use stablecoins to make transactions on your platform?
Waqas:
We will have a fully integrated crypto wallet app by end of this month — download our apps if you are in the USA and place an order either via Fiat or GOMT or any major cryptocurrency! First of its kind!! Very proud of it :)
Jane:
Every time when some Orders Meat From an online Site, They only care about the Freshness of that Meat? How will GoMeat take care of that?
Waqas:
The most influential and powerful stakeholder in GoMeat ecosystem is customers as they are driving our fundamental revenue and business — with any error or issue in the order they are fully refunded and the relevant stores are questioned — in the future such stores will lose rating and GOMT rewards so we have a mechanism to keep a check -
Atitood:
You have clearly mentioned that GoMeat is a real-life problem solving, Would you please elaborate?
Waqas:
As Halal / Kosher Meat or food consumer — especially in western countries, have to first search, locate, identify and then authenticate before they order and at times it becomes a long lengthy process with a lot of wastage of time and this specialty meat is expensive than non-halal / non-kosher meat as well — so we are solving their problem by 1) helping them find such stores at a touch of their phone 2) helping them order with home delivery services 3) providing them transparency via blockchain-based certification of Halal/kosher of that stores and 4 in phase 2 a traceability via blockchain from Farm to Store!
Caitlyn:
Thanks for diving deeper into the GoMeat Token.
Zidane:
Is GoMeat a platform for meat consumers only does it provide value for Vegetarians as well
Waqas:
We have a long range of veg menu options available on our app — we are not limited to Meat only and that menu can be turned on just by a toggle that hides all meat-related items from the menu of the stores — respect for all is our primary value!!
George:
I understand that GoMeat is a company that operates in 26 U.S. states with over 1000 stores incorporated, and by the end of 2022 you want to reach 2000 stores, do you want to expand to new U.S. states? Which ones are within your priority? I see that You are not Operating in ASIA at the moment, As it is a big market, When will You start Your Operation in this Area?
We are covering 26 States on East coast and Mid West USA — there are more than half a million stores and we have on order only 1500 so far — we are focussed on expansion in East cost first before we go toward California / West Coast USA which is a huge consumer base of our services
USA first then Europe and then Asia — where there is a real problem to get halal / Kosher meat food and groceries with a huge market — only USA is $42 billion market of such food
Betty:
Can you introduce your team? How are they qualified for this job? What experience do you need to join your team?
Waqas:
We have a very professional team bringing a combined experience of 100+ years in various fields — pls visit our website and view the leads and founders' LinkedIn profiles
Robert:
What will it Cost for any Store or Collaborate with Your Platform, How do You Decide the Commission? It is based on the Sales?
Waqas:
Our revenue model is that we get a 7% convenience fee from customers (lowest in the industry) and 8 to 10% from stores as commission on every order — keep in mind a meat order is avg of $100 unlike a food order which is avg $35-$40 — so on every $100 we make $15+ to cover our costs
Rao:
The majority of Projects are set up for Failure, How does GoMeat deal with the bear market, how did it affect you and how has it altered your plans?
Waqas:
Great question! We raised our initial funding last year for expansion via ICO and are moving forward with our expansion plan undeterred by crypto winters — we are fully prepared and know that few projects will survive out of this storm and for which we are fully ready and prepared — all thanks to the insights and experience of a professional and committee team and leadership!
Karen:
Does your target customers are for a particular religious community? Your project sound Islamic so one will think it is for that faith. But How are you educating people of different faiths about GoMeat project?
Waqas:
Surprising data fact — more than 70% of our customers are neither Muslims nor Jews to whom the Halal or Kosher is usually associated — this proves the point that this meat/food is consumed by many communities beyond any religion and so has $1.7 trillion market globally and $42 billion only in the USA and this segment has been ignored so far and we are proud to be serving this market irrespective of any boundaries! We are a tech company solving an everyday problem of a common person!
Caitlyn:
I’m glad the community has prepared lots of great and relevant questions 😍
Waqas:
Lastly, you all must not lose the exclusive opportunity with our exclusive event to get GOMT at the best prices before it's listed on Uniswap
I am just grateful for this opportunity here with a fabulous community!
Thank you for hosting us today
Caitlyn:
Thank you so much! The Pleasure is mine!
On behalf of the CryptoTalkz Community, we would like to thank you Waqas & Hamed
Thank you so much for spending time with our community & all the very best for GoMeatToken
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A wonderful project indeed! Good luck with your future endeavors!
