Hassan Maishera
Real World Asset (RWA) tokenization is one of the fastest-growing fields in the crypto space. It currently has a market size of roughly $250 billion and is expected to reach $3.5 trillion by 2030.
As an evolving industry, peaq, the Machine Economy computer, has now introduced a unique product. It has launched the world’s first tokenized robo-farm on its blockchain, effectively combining the RWA and robotics ecosystems.
Peaq Unveils the World’s First Tokenized Robo-farm
peaq, the Machine Economy computer, has announced its partnership with DualMint, an innovative platform tokenizing “boring” everyday businesses, and KanayaAI, a leading urban agritech company.
The partnership resulted in the launch of the world’s first tokenized robo-farm on the peaq blockchain.
In a press release shared with Cryptowisser, peaq said this farm is set up in a prime location in Hong Kong, one of the world’s most densely populated places. The farm will be producing fresh greens for the local community, shipping lettuce, kale, spinach, and more on a subscription basis straight to people’s homes.
Peaq explained that the demand for the farm’s products will work as a sustainable basis for the yields on the tokens representing the farm.
In a recent report, the World Economic Forum stated that physical AI or AI-powered robotics is powering a new era in industrial automation. The report predicts that smart robots will transform entire economies, and peaq’s tokenized robo-farm will benefit everyone involved.
The tokenized robo-farm is built and operated by KanayaAI and tokenized by DualMint, with the farm on the Peaq blockchain. The farm is expected is to go live in the next quarter. It will automate about 80% of traditional manual farming tasks by utilizing AI and robotics
Peaq’s Robo-farm to Produce Fresh Greens
Peaq explained that the farm, when it goes live, will be producing fresh greens for the local community. It will also run around 12 crop cycles annually, triple the four usually recorded by traditional farming.
Furthermore, the farm’s AI-powered robotics and hydroponic systems decrease labor costs by 50% compared to regular farms. Its smart climate system will enable it to produce 20% more crops than a traditional farm of similar size.
In addition to that, the farm's unique design will empower the system to use land 10 times more efficiently than a traditional farm setup. It will achieve this while using 1/10th as much water and zero pesticides.
Cash Flow to be Represented as NFTS on Peaq
Peaq is adopting a unique approach that would see the farm’s cash flow represented by NFTs on its blockchain. These NFTs will pay yields to their owners based on revenue generated by the farm.
The team added that the waiting list for the farm’s token is already live on DualMint’s website and on the peaq Portal. While commenting on this latest development, Bill Lee, co-founder and CEO of DualMint, pointed out that the beauty of Boring Robots is in their immunity to crypto market swings.
“The demand for everyday groceries has nothing to do with where crypto prices are today or tomorrow, which makes this system a healthy, sustainable foundation for growth and yields. This applies to thousands of other applied robotics use cases and billions’ worth of economic activity that they will create. We look forward to bringing these robots on-chain with peaq, the layer-1 network powering robotics and bridging Web3 with the real world,” Lee added.
Dr. Princeton Wong, CFO of KanayaAI, believes that vertical farms provide a far more eco-friendly alternative to traditional farming, made cheaper and more efficient through advances in robotics and AI.
According to Wong, these farms are a perfect solution for major urban areas like Hong Kong, where space must be used as efficiently as possible. “Tokenization enables urban communities to co-own the very farms that bring fresh produce to their tables every day. DualMint and peaq are the perfect partners for this project, bringing this vision to life with their vast experience and focus on real-world businesses, assets, and impact,” Wong concluded.
Leonard Dorlöchter, co-founder of peaq, also commented that the global economy is heading into a new trajectory with the rise of AI and robotics. The co-founder believes that the launch of the world’s first tokenized robo-farm serves as an alternative route for humanity in the context of the Age of AI and Automation.
This latest development comes four months after Peaq joined The Graph’s Subgraph Studio. The integration allows builders on Peaq can use Subgraphs on The Graph for fast and easy access to the Peaq historic blockchain data to power their frontends, analytics, and research.
