The agricultural product tokenization platform AgriDex has raised $9 million! The first transaction on Solana was successful.

CoinCircle(120bTc.coM): AgriDex, a Solana platform focusing on tokenization of agricultural products, has raised $9 million and completed the first blockchain-based agricultural product transaction on Solana this year. AgriDex focuses on the tokenization of sugar, grains, wine, and other agricultural products, aiming to achieve supply chain transparency to improve transaction efficiency.

AgriDex, the tokenization platform for agricultural products, has successfully completed its first agricultural product transaction on Solana

AgriDex is a Solana-based agricultural tokenization platform, focusing on the tokenization of sugar, grains, olive oil and other agricultural products, which can circulate in the global market. Each transaction is recorded through NFT, including product prices, ingredients, expiration dates, payment and logistics information, ensuring transparent and tamper-proof transactions.

AgriDex's services are not limited to farmers and consumers, but also provide efficient supply chain solutions for governments and investors. According to AgriDex CEO Henry Duckworth, AgriDex is expected to save tens of billions of dollars for relevant manufacturers every year in the future. Currently, AgriDex has a team of over 20 members and plans to recruit more professional talents in the future.

AgriDex has also completed the first agricultural product tokenization transaction on Solana, facilitating the cross-border transportation of over 200 bottles of olive oil from South Africa and multiple cases of wine, with payment completed in seconds and a fee of approximately $6.45.

Backed by multiple institutions, targeting $4.5 billion in agricultural product transactions

AgriDex completed two rounds of fundraising this year, raising a total of $9 million. Among the participants were UK venture capital firm Endeavour Ventures, African agricultural products company African Crops Limited, and former Goldman Sachs technology executive Hank Oberoi.

These funds will be mainly used for the technical development and business expansion of AgriDex, as well as for processing tokenization transactions of agricultural products with a total value of 4.5 billion US dollars. In the future, agricultural products such as West African cocoa beans and Eastern European wheat will also be added. AgriDex has already facilitated multiple agricultural product transactions, such as wine, olive oil, coffee, and royal cattle from the UK.

$AGRI Token Future Plans

AgriDex has launched the platform token $AGRI in the third quarter of this year, and will use tokens to encourage users to increase trading volume, community participation, and platform interaction. At the same time, AgriDex also provides 50 million $AGRI tokens for an airdrop plan, which will be distributed gradually in the future.

In order to stabilize the token price, AgriDex will also use 50% of the platform's profits for token buyback and burn. It is expected to generate a revenue of $1.93 million in 2025 and surpass $23.3 million in 2026. The current total market value of $AGRI is $8.3 million.