The indoor agricultural applications sector is expected to reach a volume of $24.8 billion by 2026. The blockchain ecosystem argues that the metaverse will also have a significant share in this growth. In this context, the South Korea-based crypto money initiative aims to use blockchain technology to support the global agricultural economy by announcing the first project that combines metaverse agriculture with its real-world version.
Indoor farming practices, which are very common in South Korea, are being moved to the virtual universe with the power of metaverse and blockchain technologies. Many people interested in indoor agriculture, whose total volume is expected to reach 24.8 billion dollars by 2026, prefer the latest technologies for sustainable and trouble-free applications. Aware of this trend, South Korea-based crypto money startup MetaRising has announced its project that combines real-world agriculture with the farming concept of the metaverse.
In a statement made by the startup, “MetaRising, which aims to use blockchain technology to help users achieve additional savings and support the global agricultural economy, is a first in the world. Contrary to other similar games in Metaverse, MetaRising focuses on an agriculture-themed GameFi project, where users can have the opportunity to earn passive income by playing games, and connects the project to a real-world agricultural service. Based on the SeedBox platform, MetaRising is working on the Microtuber project, a crowdfunding platform designed to buy and sell agricultural products.
Certified by the United Nations as a global seller
Pointing out that the global seed industry is monopolized by a few genetically modified seed producer companies, the project team said, “Therefore, farmers become dependent on extremely expensive seeds. Microtuber, a crowdfunding platform with its roots dating back to 2019, aims to benefit from blockchain technology in order to free the seeds, which are defined as the ‘semiconductor of agriculture’ with its added value, from the monopoly of companies and to reach the global seed market of 80 billion dollars. We, as MetaRising, lead the Microtuber project by combining our expertise and resources. In this context, since the MetaRising project focuses on food supply, reducing carbon emissions and preventing climate change, it has been awarded the global seller certificate given by the United Nations in the crypto market.”
Able to support real-world agriculture with a “play to win” model
MetaRising officials, who stated that in the MetaRising project, users can win prizes by validating their tokens in order to earn more income, shared their evaluations with these statements: “Users can support agricultural products while earning passive income with the Play to Win (P2E) model. The MetaRising ecosystem not only provides seeds for real-world agricultural projects, but also promises an environment where users can generate revenue through verification. Farming, fishing, mining, land ownership, games, guild system and many other real-world elements are also included in MetaRising. Of course, it is worth remembering that the seed market requires a high level of expertise and it takes time for investments in the seed market to turn out to be profitable.”