An online platform designed as a source for investors to purchase ‘crypto pigs’ has been launched.
Three Croatian companies – Agroporc, Beyondi and Blok Be – launched GoAgro which allows visitors to purchase pig NFTs (non-fungible tokens) at a cost of €250 per NFT. This then converts to 100 kilos of pork meat.
The platform’s plan is to issue 240,000 pig NFTs, with each maturing in 900 days. After this period, the purchase can then be rolled over, sold or converted into physical pork meat.
The proceeds from the venture will be used to fund pig farming on two Agroporc-owned farms.
Director, Kresimir Kuterovac, explained that the aim was to provide connections through the supply chain between farmers and consumers and to combat the decline in pig farming across Europe.
Croatia has bee particularly affected by outbreaks of African swine fever, with reports estimating that the country will soon only be able to meet 40% of domestic demand for local pork.