September 13, 2023

Croatian companies launch online platform selling "crypto pigs" for investment in pork

Three Croatian companies, Agroporc, Beyondi, and Blok Be, have introduced an online platform, "GoAgro," designed to allow investors to acquire "crypto pigs," which can eventually be converted into pork meat, an approach that seeks to rejuvenate Croatia's struggling meat industry, Euractiv reported.

On the GoAgro platform, investors can purchase pig NFTs (non-fungible tokens), each priced at EUR 250, equivalent to 100 kg of pork meat. The plan entails the issuance of a total of 240,000 Pig NFTs, with each maturing over a period of 900 days.

Upon reaching the 900-day mark, investors have the option to either reinvest, sell, or convert their holdings into 107.5 kg of actual pork meat. The generated funds will be directed towards the establishment of swine farming operations on two farms owned by Agroporc.

Kresimir Kuterovac, the director of Agroporc, highlighted that the project's primary objective is to directly connect farmers and consumers. This initiative is particularly relevant considering the ongoing decline in swine farming across Europe.

Croatia, in particular, has experienced a significant drop in swine farming, exacerbated by the recent outbreak of African swine fever.

Kuterovac said that Croatia is projected to meet only 40% of its domestic demand for pork meat through local production, making initiatives like these crucial for sustaining the country's meat supply.

-      Euractiv