PalmT NFT by JustRug - NFT meets real life oil palm production

Project Name: PalmT
Project Track: NFT
Team Name: JustRug
Team Member(s): 3
DevPost URL: Devpost link
Project Goal: Create passive income for PalmT holders through oil palm production.

Project Website: palmt.io

Project Test Instructions: The NFT minting is live, with a supply of just 300. Search the website above, scroll to mint and click on the button, then verify the transaction.

Project Details: PalmT is a low supply NFT project backed with real life oil palm production. The first batch will only be 300 NFTs.
One NFT symbolises one palm tree planted on the NFT holder’s behalf.


The site for the project has been found.
The land has been cleared without falling any matured tree.
The first palm buds have been supplied and planting in already in progress.


$OIL TOKEN

In 6 months time, there will be $OIL token issued for the project. Later in the future holders can stake there PalmT to farm $OIL.

Ultimately in less than 2yrs time, the first batch of palm-trees would have started producing palmfruits which would be harvested and used to produce palm oil on the holder’s behalf.

The funds realised from the palm plantation will be used to buy off $Oil from the market and added to the farming pool to increase the APY.

Project Milestones:
The art for the NFT has been drawn.
The minting site is live.
Plantation of the palm trees started already.

56 Likes

I love :two_hearts: oil plantation

18 Likes

This is quite intresting project u got going @justrugnft :hugs:

16 Likes

Taking farming to next level :white_check_mark:

13 Likes

This is first of its kind.
Good to see Crypto/ Nft
With real usecase especially in agriculture.
Keep it up and real team Palm-T

13 Likes

What a great news, good luck with the development! Can’t wait to see my palm tree :eyes:

13 Likes

This is very unique! Super interesting as well
Can’t wait to see how well this does!

14 Likes

Yes good one there
Your palm tree planted already

11 Likes

This has to be the best project in Nft session

8 Likes

Any NFT project is my favorite… I cant play with them

8 Likes

Hola, es interesante el proyecto dedicado al cultivo, en este caso aceite de palma, el desarrollo en NFTS que aporten un valor de algo real y en este caso dedicado al sector alimenticio. Añadir que como inversión a largo plazo puede ser factible.

4 Likes

Great concept rug survivor, NFT :space_invader::space_invader::space_invader:

5 Likes

Real life utility! Goodluck to the team on this fantastic project

8 Likes

I know Palm trees last long on the field and have better benefits to humans compared to other crops, but if i read right, it is stated that

If i am not mistaken, i know Palm trees take longer time to grow from about 4 to 5 years.

What kind of Palm Trees will the team be growing that will be ready in less than two years?

Also the $OIL tokens that will be created for project that holders can stake their Palm T to farm $OIL has not timelines as to exactly when holders will start reaping benefit. It is stated that “Later in the Future”

Again if indeed Palm Trees takes 4 to 5 years to grow, how can you convince me to invest in something that long. This is cryptocurrency and people in crypto are always in for some quick gains, and after that they can wait for sometime. But to wait from the beginning to this long will be really tough.

Thank you and waiting for a response.

7 Likes

4 to 5 years, which means that if one was harvesting now, trees have been planted in 2017-2018. Just to give some perspective. Have to be patient. Thanks for the info :+1:

5 Likes

Wonderful and amazing project

5 Likes

I don’t know where you guys got such inspiration from, I totally love this project

7 Likes

Yh from the perspective it surely looks like that but from this right here;

Planting is already in progress, is it already in progress since 2017? Or already in progress now?

And if they just started planted, as an investor i would have to wait till 2026 to 2027. Some people sure have the patience to wait.

7 Likes

I mean palm trees being harvested today (not by that specific project) have been planted in 2017-2018. Just to let people know that they better be patient and not ask every week “wen harvest” :joy:

7 Likes

Hahah :rofl::rofl::rofl::rofl: “every week when harvest” hit me hard. ROTFL

They really have to be patient. 4 to 5 years.

7 Likes