GoMeat: a $2M token sale from 31 investor meetings

The client

GoMeat is a US marketplace that helps local halal and kosher stores sell online, with same-day delivery to customers' homes. It has been operating since 2019, and by August 2021 it worked with more than 300 stores and had delivered over 6,000 orders. To grow further, it needed capital from investors who understood its market.

The challenge

GoMeat had real customers and sales, but four things stood in the way of the raise:

• No name among crypto investors: crypto investors had never heard of GoMeat.
• No investor network: the team had no network of investors who knew Arabic-speaking markets or the food industry.
• A token that needed clear economics: buyers had to see how the token's value was linked to the business.
• A long public sale: the sale ran in several stages over four months, and every stage needed new buyers.

What we did

We ran the raise in three phases: preparing the raise, raising private capital, and running the public sale. The work came down to seven steps.

1. Understanding the business and its buyers. GoMeat already had more than 300 stores, over 6,000 orders and more than $300,000 in sales in 2020. Its token, GOMT, could pay for orders, unlock free delivery and discounts, give 1% cashback, and reward stores and drivers. The buyers were crypto investors with experience in Arabic-speaking markets or food, plus the halal and kosher community GoMeat already served.

2. Designing a token model investors understand. Tokenomics are the rules for a token's supply, price and use, and investors check them before they buy. GoMeat's supply was fixed at 5 million tokens. It was deflationary: every quarter, a share of revenue, rising from 3% to 5%, was used to burn tokens. And the price rose at each sale stage, rewarding early buyers. Because the burn was tied to revenue, buyers could connect the token directly to the business.

3. Sharpening the investor pitch. We rebuilt the pitch around what investors look for: a working business, a clear market and a clear token. Every email was written for the person receiving it, with no mass mailings and no hype, and the pitch deck was tightened to show GoMeat's value and market potential.

4. Raising the private round. We introduced GoMeat to qualified investors from our network: VCs, funds and accredited individuals with experience in Arabic-speaking markets or food. Each lead received a personal message with the deck and whitepaper, followed by 31 meetings in about six weeks and regular follow-ups until each investor decided. In total, 18 investors committed $320,000.

"We really like how TokenMinds helped us connect with key investors. Their efforts not only provided the capital we needed but also expanded our network." — CEO of GoMeat

5. Building a community around real buyers. For the public sale, GoMeat needed many more buyers. Instead of targeting crypto users in general, we focused on three groups who already cared about the business: Muslim and Jewish communities, for whom halal and kosher food is a daily choice; crypto investors in Arabic-speaking markets; and investors who understand food delivery. The community received progress updates, voted on sale rules such as the cap per person, got scam warnings, and earned early-buyer bonuses and referral rewards.

6. Promoting every stage of the sale. Investors buy with more confidence when they can ask the founders directly, so we set up five AMAs (ask me anything, a live Q&A with the founders) with crypto communities such as Crypto Royals, Satoshi Club and Crypto Titans, from the pre-sale launch until just before Tier 1.

Every update, about the business, the token or a new tier, was published on crypto news sites as part of the PR campaign. In September 2021 alone, GoMeat's news ran on nine sites, including CoinGape, Bitcoin.com and AMBCrypto, so investors outside the community could check its news from an independent source.

On GoMeat's own channels, each tier opened with a launch post showing the date, price and bonus. Progress posts, such as reaching 95% of the soft cap, showed buyers that others were already in, and a sold-out post confirmed each closed tier.

7. Selling the public ICO in four stages. An ICO (initial coin offering) is a public token sale. GoMeat's ran in four stages, each priced a little higher than the last: the pre-ICO with a 20% bonus sold out two weeks early; Tier 1 at $1.00 with a 15% bonus sold out; Tier 2 at $1.10 with a 10% bonus added an affiliate program; and Tier 3 at $1.15 with a 5% bonus sold out and closed the sale in October 2021. In total, the public sale raised $1.7M, and in January 2022 GOMT listed on Hydra DEX.

Results

TokenMinds' services cost $33,000, and GoMeat raised $2.02M: a 61.2x return on our fee.

• $2.02M raised: $320K in the private round and $1.7M in the public ICO
• 18 investors signed from 31 meetings in about six weeks
• Pre-ICO, Tier 1 and Tier 3 sold out ahead of schedule

Conclusion

Our token sale campaigns for SPWAY, Alberich Token, MMAON, Double Jump Tokyo, GensoKishi, GoMeat, and Remme significantly enhanced each project's community engagement, visibility, and fundraising success. By employing tailored strategies across multiple platforms, we helped each client achieve outstanding results in their token sales.

• Driving Engagement and Visibility: Executed targeted PR and influencer campaigns that generated high levels of visibility and engagement, driving interest and participation in the token sales.
• Expanding Community and Reach: Successfully grew community sizes across platforms, leading to strong support and active participation in each project's token sale.
• Achieving Fundraising Success: Raised significant funds through strategic marketing efforts, ensuring each project met or exceeded their fundraising goals.

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