One that may contain gold, located in the Amazon, will be tokenized as a “cryptoproperty” on the Ethereum blockchain.

Therefore, this means that all buyers of farm plots will have their property right converted into a digital asset on the Ethereum network.

This is Fazenda Dois Irmãos, located in the municipality of Nova Aripuanã (AM). Now, thanks to the initiative, the property will become one of the first farms in Brazil and be transformed into a token.

Cryptau (AM1)

To be tokenized, the farm was divided into lots and each lot was represented by a digital asset.

Thus, in total, there will be 100 million Cryptau (AM1) tokens, as the cryptography was called, as reported by Cointelegraph Brazil this Friday, the 3rd and July.

The project's creators reported that technical studies attested to the possibility of gold and other minerals in the region. Thus, this can attract even more buyers' attention.

Therefore, if there is mining activity on site, the token holders will also be entitled to the ore mined.

Farm as an investment

According to one of the creators of the project, Fernando Lopes, the objective of the initiative is for buyers to acquire a fraction or the entire property. In this way, making an investment, unlike Bitcoin and other cryptocurrencies that are already, according to him, investments.

“Cryptau is a means, not an end”, pointed out Lopes. “Cryptoproperty only makes buying easier, replacing traditional intermediaries. It is a new technology that allows the purchase and sale of goods directly between the parties, which until then was impossible to be carried out over the internet in this type of market ”, he explains.

Tokens on Ethereum

Ethereum's blockchain is widely used to tokenize products or services.

The platform is used to transform digital assets since tickets for sporting events and sneakers, up until works of art, infected bats and criminal factions.

Also read: Analyst explains that Bitcoin may follow gold's historic high forecast for 2021

Read too:

Read also: World's largest gold miner makes first blockchain sale

LEAVE A REPLY

Please enter your comment!
Please enter your name here