AgriDex, a Solana-based tokenization platform, said it raised $5 million to bring agricultural commodities on-chain. The pre-seed funding round included investments from Endeavour Ventures, sub-Sarahan African agricultural group African Crops and South African vineyard group Oldenburg Vineyards, the company said by email on Thursday.
AgriDex allows various crops to be bought on its marketplace. When finalized, deals are then secured by minting a non-fungible token (NFT) recording the key transaction details.
Tokenization of RWAs has generally been more focused on assets such as stocks, bonds and metal commodities like gold. AgriDex is attempting to extend this narrative into the $2.7 trillion global agricultural industry.
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