Top 3 Most Promising RWA Projects in 2024

According to a recent report, the global blockchain in the agriculture and food supply chain market was valued at $123.28 million in 2021 and is likely to reach $383.18 million by 2027, expanding at a whopping CAGR of 20.81%.

Furthermore, research from global consulting firm Roland Berger estimated the industry’s size at $300 billion in 2023, with the potential to skyrocket 40x to $10 trillion by 2030. This massive growth potential is why The House Financial Services Digital Assets Subcommittee held a hearing on June 5 to discuss the potential benefits of real work asset (RWA) tokenisation. Industry experts testified on how RWA tokenisation could foster more efficient markets.

In light of the above, this article discusses three promising RWA projects: TruMarket, Dimitra and AgriDex. These projects are a shining example when it comes to sustainable practices and enhanced financial inclusion. We investigate their unique value propositions, achievements, and future potential.

Infographic Heading: Quick Real World Asset (RWA) Stats

• A recent report valued the global blockchain market in the agriculture and food supply chain market at $123.28 million in 2021, projected to reach $383.18 million by 2027, with a CAGR of 20.81%
• In Q1 2024, real-world assets (RWAs) were the second most profitable investment narrative, delivering a 286% return
• RWAs now make up about 2.5% of crypto discussions on platforms like Twitter

The Best RWA Projects in 2024

TruMarket

First up is TruMarket. This project is making significant strides in the RWA space by closing the gap between local producers and global buyers. By using the Internet Computer Protocol, TruMarket delivers real-time traceability and speeds up the entire supply chain process.

But how does it work? The project expands exporters' market reach by linking them with a global network of verified buyers. By using smart contracts on the Internet Computer Protocol to manage transactions, the platform ensures funds are released only when specific milestones are met, which minimises the risk of fraud and non-compliance.

In addition, TruMarket's crowd-investing model allows suppliers to access financing by tokenising their products, democratising access to capital, and enabling small-scale farmers to participate in global trade. So far, the platform has facilitated transactions worth over 2 million dollars.

For growers, TruMarket provides fair prices and direct access to global markets. Small-scale farmers can participate in global trade without the usual barriers, ensuring their produce reaches international buyers. This approach boosts their income and protects their financial future.

Buyers also gain significantly from TruMarket's platform, as they can be confident in the verified quality and origin of the products they purchase. The traceable supply chains ensure transparency, helping them become compliant with recent DPP regulation and giving buyers peace of mind about the ethical sourcing practices behind their products.

Overall, TruMarket's focus on sustainability and traceability makes it a standout player in the agriculture sector, especially for socially conscious investors and industry leaders seeking reliable and ethical trade partners, and is all possible thanks to the power of Internet Computer Protocol .

Dimitra

Dimitra is a blockchain-based agricultural technology company focused on enhancing productivity and inclusivity in farming. Through its partnership with One Million Avocados (OMA) in Kenya, Dimitra has provided local farmers with cutting-edge technology to tackle the challenges in avocado production.

Dimitra combines AI, IoT, and blockchain to provide farmers with tools that improve crop management, reduce risks, and increase yield. The company’s blockchain helps farmers meet stringent environmental, social, and governance (ESG) standards, opening new markets and unlocking additional value for their produce.

In partnership with OMA, Dimitra recently digitised 10,000 avocado trees as NFTs on the Polygon blockchain. Each NFT includes comprehensive real-world data, enhancing transparency and providing farmers with enterprise-grade tech solutions.

Dimitra’s Connected Farmer platform democratises access to advanced agricultural technology, enabling smallholder farmers to track pest and disease problems and implement effective solutions. Its focus on sustainable agriculture and advanced technology integration makes it an attractive option for investors and industry leaders committed to enhancing productivity and sustainability.

AgriDex

AgriDex, an RWA marketplace operating on the Solana blockchain, tokenises agricultural commodities, facilitating the listing and purchase of various crops. Each finalised deal is secured by minting a non-fungible token that records all key transaction details.

The platform offers instant settlements, high throughput, and low fees. Each transaction is represented by an NFT that permanently preserves essential details such as product, pricing, and payment information. Solana's capability to compress NFTs allows AgriDex to develop a scalable NFT-based supply chain solution, achieving cost savings of 10-40% per transaction.

AgriDex is also creating new revenue opportunities and cost savings for commodities. This funding will help onboard more agricultural assets on-chain, delivering profitability for investors, farmers, and governments.

In addition, AgriDex recently raised $5 million to bring agricultural commodities on-chain. The funding round saw investments from Endeavour Ventures, African Crops, and Oldenburg Vineyards, as announced by the company in an email last Thursday. This capital will drive further development and allow the team to refine the product, conduct beta testing, and establish strategic partnerships.

The Future of RWA Projects

Real-world assets now make up about 2.5% of crypto discussions on platforms like Twitter, showing a slow but steady rise in interest compared to other crypto topics. Those considering investing in RWA projects still have time to get on board.

Furthermore, a recent CoinGecko report revealed that RWAs were the second most profitable narrative in Q1 2024, delivering a 286% return. Clearly, RWA projects have immense potential to transform industries and open up new investment opportunities. For agro-focused investors in search of a promising project, TruMarket, Dimitra, and AgriDex each offer exciting prospects for investing in the future of global trade.