On this time we will talk about a very peculiar ICO and no less promising, whose scope of action focuses on the food sector. This is BeefCoin, an initiative that aims to use an initial currency offer to expand the existing organic meat business.
Based in Russia, BeefCoin is a joint venture between two companies, Melbard LLC, a private company based in Moscow that owns and operates an agricultural farm in the Penza region of Russia and which is partnering with Meat Desire, a chain of Moscow-based restaurants, which offers organic meat products.
The BeefCoin project wants to eliminate the intensive technologies used in the production of beef and veal by establishing an integrated structure from field to restaurant, offering completely organic beef, as they say, “from the farm to the table”.
BeefCoin, unlike most ICOs in the current market, benefits from an already established commercial infrastructure. Meat Desire, the restaurant chain through which the project aims to distribute organic meat products, already has two operational restaurants in Moscow, and also offers a butcher shop that offers organic meat products available for sale.
By its part, the agricultural farm Melbard LLC that will deliver meat products to restaurants Meat Desire has 500 cows of the race Aberdeen-Angus, and is built on 1,000 hectares of land with complete meat processing facilities.
BeefCoin wants to use the funds generated in the sale of Token BeefCoin to open six new restaurants in Moscow, as well as to expand the existing agricultural farm owned by Melbard LLC. The expansion into a brewery, a cheese factory, a delicatessen and an increase in dairy products is also planned. The objective is to diversify the variety of organic products offered in the restaurants “Meat Desire”.
The Token BeefCoin Sale was launched on January 1, 2018 and put on sale 4,000,000 tokens based on Ethereum & Waves. The tokens not purchased at the end of the ICO will be added to a reserve of BEEF tokens that will be distributed among the BEEF token holders at the end of each year.
To provide investors with ROI in their token purchases, BeefCoin will buy back 10% of all BEEF tokens at the end of each fiscal year at a rate not less than the market value. In addition, BeefCoin will provide the investors of the ICO bonus tokens, BeefGold, which grant the holders a participation in 20% of the net profit generated by the company BeefCoin.
The tokens issued are backed by assets of a profitable commercial model (farm and restaurants) with a total value of more than $ 4,500,000.
With a certainly promising concept, this ICO does not stop us from thinking about the delicious signature burgers of the “Meat Desire” kitchens of the brand chef, Kirill Kuznetsov, who is part of this project.