Recap: GoMeat x Bull Crypto AMA
Date: 10 July, 2021 at 10:00 AM UTC
Hosted by: Bull Crypto
Speakers: Waqas Siddiqi and Kanwal Sultan Khan
Introductory Questions
1. Introduce yourself, please. How did you get to be involved in crypto & GoMeat? Tell us please about your position in GoMeat?
Waqas: My name is Waqas Siddiqi and I am the co-founder of GoMeat! I have 20+ years of experience of setting up and managing consulting practices and successfully delivering large scale tech project for some of the largest companies in the world – I started my career working for multinational companies from South East Asia and after working in Middle East and Europe for few years, I am now finally based in New Jersey in USA since last 6 years.
Since I’ve been working in tech space for a long time, so I was truly fascinated with the concept of blockchains. GoMeat idea came in 2018 when we wrote our first white paper, but we didn’t launch an ICO at that time as we wanted to prove the concept and business model first.
GoMeat is first of its kind business venture catering to $1.7 trillion global (halal+ Kosher) market, already in operations in the United States with 200+ stores on-boarded on GoMeat platform with 6,000+ orders processed, generating a gross volume of $300K in 2020 – we have already proved the concept and have a valid business case for expansion globally.
2. We are so curious about GOMT, could you please tell us about GOMT, its total supply, its features?
Kanwal: Hello everyone, so excited to be answering all your questions here!
We are running a pre-ICO event offering 500k GOMT tokens with 20% bonus priced at $2.5/token. And we are so proud to announce that we have reached 25% of our soft cap target within 2 weeks of launching!!
We will run our main ICO event offering 2 million tokens. Our total supply of token will be 5 million only and at this ICO phase we will use only 2.5 million tokens- we plan to burn all unsold tokens out of these 2.5 million supplies for this round and as mentioned earlier we have a comprehensive token burning plan based on our revenue generations as we push our scale and adoption plan.
Respecting all our token holders, we are very considerate and focused to ensure stability of our token with consistent increase in its value and utility over time. More details are mentioned in our white paper in section 7. You can visit gomeat.io for more details!
3. What are the advantages of your project? What makes it different from others?
Kanwal: Excellent question, our project is truly the first of its kind to serve the specialty meat industry and bring convenience to specialty consumers.
Please note that unlike other projects which are mere ideas at the inception of their ICO, GoMeat is a revenue generating business which has been operating since 2019.
As of today, we have over 200 stores, 4.5k+ customers and in 2020 alone we generated $300k+.
GoMeat token is a deflationary token which can be used to place orders on our platform. We have an extensive burning plan and limited supply to ensure that token utility increases over time!
4. Tell us about the goal you want to achieve this year. What’s your roadmap to expansion?
Kanwal: Glad you asked. After 3 years in the business, we have refined our operations and learned tremendously along the way. Public feedback and the COVID pandemic situation have proven the need for a business like ours. Our plan now is to expand our operations to other cities in the US so we can bring convenience straight to the doorstep of more consumers!
We currently have over 200 stores on our platform, by the end of the year we are planning on having over 500 more stores on board and increasing the number of customers through extensive marketing.
After the ICO, we plan to list GOMT on multiple exchanges that best fit our needs and our burning plan will allow for the token utility to increase over time.
You can read a summary of our roadmap here: https://gomeattoken.medium.com/introducing-gomeat-token-97235760f356
5. Why is transparency necessary in specialty industry?
Waqas: So we need to keep in mind that billions of halal and Kosher consumers world wide will not eat meat if it’s not slaughtered as per the halal or kosher guidelines due to their beliefs. The challenge gets way bigger in Western countries where such consumers have to travel miles and stand in long lines to get that meat – and on top of it there is not much transparency and certification process is all manual for that meat is is obtained from halal or kosher slaughter houses. It may seem a niche but only in US there is a market of $32 billion dollar and growing exponentially- also let’s keep in mind that the traditional food ordering and delivery services are not catering this market. These consumers will not eat in restaurants where the food is not certified halal or kosher and will not buy from stores if there is a doubt on the meat/food being. not halal or kosher. We are the first ones to provide that transparency from slaughterhouse to the consumer using blockchain and have a very real valid business case solving a problem for a huge communities of consumer of halal /Kosher meat world wide. I would also add that as per our data points we have learned that Halal meat, due to its nutritional values is being used by communities beyond Muslims or Jews with whom this halal or kosher is usually associated – therefore we are catering to a market beyond these communities and hence a much bigger market for such consumers
6. What are the plans ahead to increase the value of $GOMT in the market & to attract many people to trade & buy $GOMT? Any benefits for holding $GOMT for long?
Kanwal: You will be glad to know that we have a very thorough burn plan outlined in our whitepaper. Our aim here was to keep our investor’s best interest at heart and to increase the token utility. Some key features include:
-All unsold tokens will be burnt
-3% revenue burnt in first quarter after ICO completion
-revenue burn increase by 1% every subsequent year
-upon hitting 3 million in annualized gross volume. An additional 3% will be burnt quarterly
Apart from these, please keep in mind they GOMT has very limited supply. Only 5 million total tokens, out of which ONLY 2.5 million will be available for purchase. Our track record in the past 3 years, thorough burning plan and extensive marketing make GoMeat an ideal token for buying and trading.
More details in our whitepaper: https://gomeat.io/pdf/White%20Paper%20GoToken.pdf
7. Can you describe what are the uses of your token on your platform?
Kanwal: That’s an excellent question!
GOMT is a deflationary utility token with a real use case!
On our platform, you can use GOMT to pay for you meat, grocery, food orders. Paying with GOMT will also provide you with exclusive discounts, free delivery and much more!
Our burn mechanism was created keeping in mind that we want to increase GOMT utility over time so the customers buying power will also increase!
You can buy GOMT now with exclusive 20% bonus at: https://gomeat.io/icopanel/login
Community Questions
1. Does GoMeat payment system support payments in the fiduciary currency of each region? Which of these currencies can already be used on your platform? Thank you!
Waqas: GoMeat is already in operations in United States and we are accepting orders in US Dollar – as we expand to diff countries, we will be accepting relevant Fiat currencies as well besides GOMT tokens
2. What are some key features that set GoMeat aside? What does GoMeat have that other projects don’t have?
Kanwal: Unlike many projects, GoMeat has been an operational and revenue generating business for the last 3 years.
We already have 200 plus stores on board and over 4500 loyal customers. We have a proven business case and we have truly tapped into a highly overlooked yet profitable market.
These point’s coupled with our low token supply and deflationary model set us apart from other projects!
3. How many stores do you guys have in USA and since when did you start operation? Is the feedback of your community important? Is there a GoMeat Crypto wallet already?
Waqas: We are in operations in United States and have about 200 Halal Meat stores on-boarded already. We are present in some cities of New Jersey, Chicago, Dallas, Houston, Atlanta, Philadelphia, Orlando, and Miami. We launched our first store in 2019 and continue to expand and as of today we have about 4500 customers in these cities and we have processed 6000+ orders already – we did a gross volume of $300K in 2020 with min marketing efforts and this is all organic growth.
4. They mention that they have placed more than 6,000 orders, but I would like to know if these are orders only at the national level or if they do indeed go further and already deliver orders internationally for greater recognition of the project and the services they offer?
Waqas: As mentioned earlier we are currently operational in USA only although we are getting a lot of queries from other countries to expand our services as this is a need in all western countries where we have halal and Kosher consumers. We have defined our expansion plan in detail in our white paper and we plan to go globally but at the right time.
5. How big is your team? Are you a public team or not? Please tell us more about team background.
Kanwal: We have 5 founders and a team of 15 people who are working round the clock to make the GoMeat ICO as successful as possible.
We believe in transparency thus all our team members names and LinkedIn profiles can be accessed through our website which is gomeat.io
Our founders have over 20 years of experience each in managing and executing large scale technology projects. I’d suggest you give their LinkedIn a visit, you’ll be very impressed!
6. “Adoption” is one of the important factors that all projects must pay attention to to make them more attractive to investors. So, what does GoMeat have planned to gain more adoption?
Waqas: Primary reason of our ICO is to obtain funding to address our biggest challenge which is Adoption and Scale – we have already proven a market and the business case in real life and more than 50% of our funds generated in this ICO will be utilized for adoption and scale around marketing efforts.
