Costa Rica, which contributes 1% of the world’s coffee production, is advancing in digital technology and conservation.
Tropical Agricultural Research and Higher Education Centre (CATIE) and Specialty Coffee Association of Costa Rica (SCACR) have formed a new partnership. The partnership involves the creation of an NFT collection inspired by 12 unique CATIE coffee varieties. This collaboration seeks to fund research and conservation efforts in the coffee industry.
BIOCENFT, an NFT distribution company, will oversee the organization of the NFT auction. The company will dedicate the proceeds exclusively to promote CATIE’s International Coffee Collection, which currently ranks as the world’s fourth-largest.
Walter Aguilar, the CEO of BIOCENFT, stated about this new initiative:
“This is a unique opportunity for coffee and NFT enthusiasts to support two important organizations that are working to ensure the future of Costa Rican coffee.”
Each of the 12 NFTs exhibits distinctive designs inspired by various coffee varieties. The assets will highlight the unique attributes of Geisha, Mibirizi, Rume Sudan, ER-47, SL-34, Milenio, Esperanza, and Casiopea variants.
These NFTs, available on the platform of BIOCENFT, have prices ranging from $20 to $12,000. Furthermore, they come in Gold, Silver, and Standard versions.
This endeavor redirects research efforts toward creating coffee varieties that can withstand pests and diseases. This initiative also aligns with global initiatives aimed at enhancing the quality standards of Costa Rican coffee.
Noelia Villalobos, the Executive Director of SCACR, believes that utilizing NFTs will enhance coffee biodiversity awareness, further solidifying the conservation efforts of CATIE and SCACR. She stated that the association will continue sharing knowledge and fostering coffee culture globally. She also expressed gratitude for the chance to achieve this by applying NFT technology.
NFTs Became Popular in Food Industry
With the food and beverage NFT market expected to reach $2.1 billion by 2032, it is no surprise that companies are participating more and more in the industry. We want to share some examples from the industry embracing the NFT space.
McCain Foods, a Canadian frozen food company, proactively introduced a virtual experience on Roblox. This initiative enables McCain Foods to educate its younger clientele about the benefits of regenerative agriculture.
Moreover, Singapore’s leading bank, DBS, launched BetterWorld last month. The metaverse game aims to educate people about sustainability and the issue of food waste. In addition to these examples, McDonald’s rewarded its Singaporean customers with Grimace PFP NFTs in August.
This list will become more extensive as time progresses, and food companies from all over will hop on the NFT train!