Agriculture, from the Latin word agricultura, is one of humanity’s oldest practices. Today, it gets an upgrade as experts explore how NFTs can help farmers, distributors and buyers.
NFTs can be distilled into four characteristics; they are unique, can be owned, are tracable, are authentic and are decentralised.
All of these features can support real world activities. In this blog alone, we have explored how NFTs are used to insure and authenticate art and give concert goers the peace of mind that their ticket is real.
Farming is no different, and while a Bored Ape may be pretty unhelpful on a farm, a series of NFTs throughout the supply chain that track authenticity and ownership throughout could support farmers and buyers.
NFTs could support farmers by granting and securing ownership of their produce while promoting fairer profits. NFTs can be minted at every stage, from farm to table, enabling complete transparency of the supply chain, and in theory, ensuring that farmers get their share. Incorporating NFTs throughout the supply chain will also promote transparency, so consumers have a better idea of what they’re buying — they can refer to a transparent and immutable set of transactions and processes and document the history of their products.
Would you like to trace your food through NFTs?