Good Money's Master Plan: A Stealth Bid to Get Celebs Promoting Crypto Exposed

Investor documents obtained by CoinDesk reveal what Good Money is really banking on, the idea millennials trust internet personalities more than media or financial institutions.

Rumored to be planning a major initial coin offering since early 2018, Austin-based Good Money has raised $22 million on an offered $40 million in what appears to be a convertible note according to a September SEC filing.

Many of Good Money's promises will sound familiar to regular readers of initial coin offering white papers - fast transactions! low fees! amazing user experience! - but one aspect of Good Money does stand out: its focus on marketing.

In a document outlining Good Money's "Token Ecosystem," it describes a fundraising plan that ultimately aims to raise $80 million selling GDMY security tokens, or "Good Shares," tokenized equity in the company.

Should Good Money continue to raise capital, it appears its plan is to rely heavily on an aggressive social media strategy.

"We come into the crypto market with an army of influencers and publishers and celebrities that will bring more marketing firepower to the launch of good money and the scaling of our platform than any other cryptocurrency has to date."

Good Money plans to offer two tokens, both of which will be held by its user custodial wallet, which Lovelace called a "Core beachhead" for the company.

Ultimately, 100 billion GDMY security tokens will be minted, split equally in two pools, one for investors and the team behind Good Money.

Documents promise customers that use GOODS commercially will be rewarded with 4 to 8 percent cash back in GDMY. Critically, all profits made by Good Money will be split half and half.

"Because I've made them so much money and have the credibility with them, they're coming into Good Money. They're excited. You know, it's literally like: where do I send a check? How do I get involved? When can I start promoting?".