Croatia launches one of world’s first crypto pig farm platforms

Three Croatian companies launched on Wednesday an online platform where investors will be able to buy “crypto pigs” that can later be converted into pork meat, in a bid to boost the sagging meat industry in the country.

The companies – Agroporc, Beyondi, and Blok Be – launched the GoAgro platform, where investors can purchase pig NFTs (non-fungible tokens), Poslovni Dnevnik reported.

Each NFT costs €250, which equals 100 kilos of pork meat, and the plan is to issue some 240,000 Pig NFTs altogether, each of which matures in 900 days.

After 900 days, the investment can be rolled over, sold on, or converted into 107.5 kg of actual pork meat. The proceeds will be used to start pig farming on two farms owned by Agroporc.

Its director, Kresimir Kuterovac, said the aim of the project was to connect directly farmers and consumers”, considering that overall, pig farming was on the decline in Europe.

It is falling even more sharply in Croatia, where it was adversely affected by the recent outbreak of African swine fever: Kuterovac said Croatia will soon be able to meet only 40% of domestic demand for porc meat from local production.

(Zoran Radosavljević | EURACTIV.com)