Croatian companies Agroporc, Beyondi, and Block Be have unveiled GoAgro, a platform offering investors an avenue to engage in swine farming by acquiring Pig NFTs.
The companies introduced the GoAgro platform during a recent press event. This website allows citizens to participate in the so-called future of food production in Croatia. The flagship project on GoAgro is named “My Digital Pig.”
The recent development is one of recent dabbles into NFTs by prominent entities, including Coca-Cola, Lufthansa Group and the International Basketball Federation (FIBA).
On GoAgro, investors can create and own digital pigs. These virtual livestock enable crypto proponents and aspiring farmers to enter the agricultural scene without the necessity of wearing traditional farm attire and engaging in physical farming activities.
Every NFT requires a minimum investment of 250 euros and ensures a return of 100 kilograms of pork. The transition from a digital pig to a physical one spans 900 days, with the pig “maturing” at an annual growth rate of 3%.
Crucially, investors can exchange or keep their Pig NFTs as long-term investments. They can also engage in trading these digital assets.
Krešimir Kuterovac, the proprietor of GoAgro and director of Agroporc, noted that the platform’s primary objective is to fund diverse agricultural initiatives by issuing NFTs.
The proceeds generated from NFT sales will be channeled into agricultural production, aiming to foster the development of innovative agricultural products.
In recent years, Croatia’s pig production has encountered formidable challenges, resulting in a decrease in self-sufficiency levels from 125% to 110%. Projections indicate the possibility of an additional 20% decline over the next two years.
The GoAgro project aims to counteract this prevailing trend. The project’s blueprint involves the issuance of 240,000 Pig NFTs distributed across five phases.
Every participating farm in the project will be equipped with web cameras to facilitate real-time monitoring for investors to keep a close eye on their investments.