- Agrotoken has introduced a brand new collaboration with Polygon to rework agribusiness by tokenizing agricultural commodities.
- Agrotoken chosen Polygon for its scalability, which is able to permit it to supply industrial and enterprise alternatives for its customers in agribusiness.
Tokenization is usually checked out as a blockchain software for the monetary sector, the place real-world property are tokenized to unlock liquidity. Nevertheless, it spans each sector and several other corporations are proving that tokenization can open up new alternatives and enterprise fashions in day-to-day lives. Agrotoken is unlocking the potential of tokenization in agribusiness, and it has now partnered with Polygon to increase its presence.
In its announcement Thursday, Agrotoken mentioned that its partnership with Polygon would “remodel agribusiness with agricultural commodity tokenization.”
We’ve collaborated with @0xPolygon to rework agribusiness with agricultural commodity tokenization. pic.twitter.com/aeoeqAQA90
— Agrotoken (@agrotoken) October 17, 2024
Agrotoken is a tech firm that blends agriculture and expertise. It constructed the world’s first infrastructure for agricultural commodities tokenization. It transforms agricultural merchandise like grains into tokens that may be simply exchanged for fiat, different items, or property for farmers who require environment friendly monetary assist.
The corporate has already facilitated $70 million in transactions, tokenizing three grains: cora, soya, and wheat. It boasts of over 1,000 farmers, 40+ grain holders, and over 250 retailers. Collectively, these ecosystem customers have tokenized over 230,000 tons of grains.
By partnering with Polygon, Agrotoken won’t supply better transparency and effectivity with its cost-effective tokenization options. With sustainability now a giant focus for corporations globally, Agrotoken additionally focuses “to create merchandise that promote greatest practices for agribusiness and pave the way in which for a extra sustainable trade.”
Polygon x Agorotoken: Tokenising Agribusiness
Polygon has change into one of many greatest gamers in tokenization, a sector that Goldman Sachs says may unlock $16 trillion by the top of the last decade. As we reported, the crew behind Polygon believes that this software may very well be a $30 trillion alternative for the Web3 sector, and already. a number of gamers are constructing tokenization options on its scalable community.
This consists of Spiko, a cash markets infrastructure supplier that surpassed $65 million inside two months. It also boasts a few of conventional finance’s greatest gamers constructing options on its community, together with Hamilton Lane which tokenized a $2.1 billion personal fairness fund, and Franklin Templeton, the $1.53 trillion asset supervisor which launched on-chain peer-to-peer transfers for real-world property.
Agrotoken aspires to hitch these heavyweights. In its announcement, it said:
This collaboration will permit us to leverage the scalability of the Polygon PoS community, enhancing our environment friendly and clear agricultural ecosystem even additional, and opening up new monetary, industrial, and enterprise alternatives for agribusiness.
This partnership is simply step one. The Agrotoken crew says that within the coming months, it should launch the Natural Assets Chain, its zero-knowledge Layer 2 community that shall be constructed on the Polygon chain improvement equipment (CDK). This can permit the platform to supply higher cross-chain interoperability and enhance effectivity and safety.
In the meantime, MATIC trades at $0.3673, buying and selling sideways as we head into the weekend, amid a ten% dip in buying and selling quantity.