- Agrotoken has announced a recent collaboration with Polygon to remodel agribusiness by tokenizing agricultural commodities.
- Agrotoken selected Polygon for its scalability, that can allow it to supply commercial and substitute alternatives for its users in agribusiness.
Tokenization is typically checked out as a blockchain utility for the monetary sector, the build proper-world sources are tokenized to unlock liquidity. On the opposite hand, it spans each sector and several other firms are proving that tokenization can birth up recent alternatives and substitute objects in day-to-day lives. Agrotoken is unlocking the functionality of tokenization in agribusiness, and it has now partnered with Polygon to amplify its presence.
In its announcement Thursday, Agrotoken said that its partnership with Polygon would “remodel agribusiness with agricultural commodity tokenization.”
We’ve collaborated with @0xPolygon to remodel agribusiness with agricultural commodity tokenization. pic.twitter.com/aeoeqAQA90
— Agrotoken (@agrotoken) October 17, 2024
Agrotoken is a tech company that blends agriculture and technology. It built the realm’s first infrastructure for agricultural commodities tokenization. It transforms agricultural products love grains into tokens that can maybe also be without problems exchanged for fiat, other goods, or sources for farmers who require atmosphere pleasant monetary strengthen.
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 users beget tokenized over 230,000 a diffusion of grains.
By partnering with Polygon, Agrotoken will now not offer increased transparency and effectivity with its cost-efficient tokenization alternate choices. With sustainability now a huge level of interest for firms globally, Agrotoken furthermore focuses “to construct products that promote easiest practices for agribusiness and pave the approach for a more sustainable substitute.”
Polygon x Agorotoken: Tokenising Agribusiness
Polygon has change into regarded as one of the necessary greatest avid gamers in tokenization, a sector that Goldman Sachs says could possibly unlock $16 trillion by the discontinue of the final decade. As we reported, the team in the back of Polygon believes that this utility is typically a $30 trillion opportunity for the Web3 sector, and already. several avid gamers are building tokenization alternate choices on its scalable network.
This involves Spiko, a cash markets infrastructure provider that surpassed $65 million within two months. It furthermore boasts a pair of of well-liked finance’s greatest avid gamers building alternate choices on its network, in conjunction with Hamilton Lane which tokenized a $2.1 billion deepest equity fund, and Franklin Templeton, the $1.53 trillion asset supervisor which launched on-chain explore-to-explore transfers for proper-world sources.
Agrotoken aspires to affix these heavyweights. In its announcement, it said:
This collaboration will allow us to leverage the scalability of the Polygon PoS network, bettering our atmosphere pleasant and transparent agricultural ecosystem even extra, and opening up recent monetary, commercial, and substitute alternatives for agribusiness.
This partnership is lawful the important thing step. The Agrotoken team says that in the upcoming months, it could maybe possibly maybe birth the Pure Assets Chain, its zero-files Layer 2 network that will probably be built on the Polygon chain kind equipment (CDK). This could allow the platform to supply better extreme-chain interoperability and strengthen effectivity and safety.
Within the period in-between, MATIC trades at $0.3673, procuring and selling sideways as we head into the weekend, amid a 10% dip in procuring and selling volume.
