Croatian firms launch NFT 'crypto pigs' platform to boost pork industry

Croatian firms launch NFT 'crypto pigs' platform to boost pork industry
Project aims to reverse the decline in pig farming in Croatia. / Peggychoucair via Pixabay
By Aidą Kadyrzhanova in Astaną September 8, 2023

Three Croatian firms have launched the GoAgro platform, offering investors the opportunity to buy "crypto pigs" in the form of NFTs, reported Poslovni Dnevnik.

Priced at €250 each, equivalent to 100 kilograms of pork meat, a total of 240,000 Pig NFTs are to be issued, maturing over 900 days.

After this period, investors can choose to reinvest, sell, or convert their Pig NFTs into 107.5 kilograms of real pork meat. The proceeds will be used to kickstart pig farming on two Agroporc-owned farms.

Kresimir Kuterovac, Agroporc's director, said the project's goal is to directly connect farmers and consumers, addressing the decline in pig farming, especially in Croatia, where recent outbreaks of African swine fever have severely affected production. 

Croatia is facing a significant shortfall in meeting its domestic pork meat demand, currently able to fulfill only 40% of it through local production.

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