Croatian companies Agroporc, Beyondi and Block Be have unveiled GoAgro, a platform that offers investors an opportunity to get involved in pig farming by acquiring Pig NFTs.
The companies introduced the GoAgro platform at a recent press event. Through this website, citizens can participate in the so-called future of food production in Croatia. The flagship project on GoAgro is called ‘My Digital Pig’.
The recent development is one of the recent attempts to use NFTs by prominent entities including Coca-Cola, Lufthansa Group, and the International Basketball Federation (FIBA).
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On GoAgro, investors can create and own digital pigs. This virtual livestock allows crypto proponents and aspiring farmers to enter the agricultural landscape without the need to wear traditional farm attire and engage in physical farming activities.
Each NFT requires a minimum investment of 250 euros and provides a return of 100 kilograms of pork. The transition from a digital pig to a physical pig takes 900 days, during which the pig matures at an annual growth rate of 3%.
Crucially, investors can trade or keep their Pig NFTs as long-term investments. They can also engage in trading these digital assets.
Krešimir Kuterovac, the owner of GoAgro and director of Agroporc, noted that the primary purpose of the platform is to fund various agricultural initiatives by issuing NFTs.
The proceeds from the sale of NFT will be channeled into agricultural production, with the aim of promoting the development of innovative agricultural products.
In recent years, Croatian pig production has faced enormous challenges, leading to a drop in self-sufficiency levels from 125% to 110%. Projections point to the possibility of an additional 20% decline over the next two years.
The GoAgro project aims to counter this prevailing trend. The project’s blueprint includes the issuance of 240,000 Pig NFTs across five phases.
Each farm participating in the project will be equipped with web cameras to enable real-time monitoring, allowing investors to keep a close eye on their investments.
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