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 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.
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.
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.
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 no 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.
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
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”
oil plantation
