Recently, software development company 2048k announced a collaboration with Leaf Labs (a Colombian company) to jointly develop a legal framework on AO to build a pioneering RWA project — Harvest.
What is the Harvest Project?
RWA (Real World Asset) refers to assets from the real world, which are tokenized and introduced into the blockchain field, such as real estate, artwork, cars, bonds, and any other assets with storage value that can be tokenized. Through this method, the storage and transfer of assets do not rely on centralized intermediaries, enabling their value to be mapped onto the blockchain for trading and circulation, while also providing users with more asset choices and sources of income.
Harvest is an RWA project built on AO, claiming to be the first tokenized natural resource market. Unlike common bond-type RWA projects, Harvest possesses land and livestock assets worth over $1.5 million, and is in the process of introducing a robust legal framework to set new standards for the security and transparent trading of its digital assets.
For Harvest, tokenizing assets such as land and livestock grants ownership of the assets to buyers, who can also earn profits from them. Below are examples provided by Harvest:
Suppose a cow brings in about $1,000 in profit annually. A rancher decides to tokenize 50% of the cow’s market value, offering it to investors for $1,000, with a term of three years. In this scenario, investors purchasing this token effectively own half of the economic value of the cow, entitling them to $500 in profit annually during the contract period.
From this simple example, investors can expect a total return of $1,500 after three years on an initial investment of $1,000, yielding a profit of $500.
Harvest and the Perfect Match with Arweave AO
2048k and Leaf Lab recognized the powerful capabilities of Arweave and AO, leading them to build the Harvest project on AO. Specifically, Arweave not only permanently stores all data, ensuring the data transparency and traceability crucial for RWA projects, but also significantly reduces interaction costs. Additionally, building on AO enables strong scalability and interoperability with any AO application.
Harvest is set to launch its mobile app soon, with the team hinting at a possible release by the end of April. Users eager for a sneak peek can join the Waiting List: https://goharvest.app/.
The Harvest team is tirelessly working and plans to achieve compliance in the second quarter of this year, delivering a compliant and usable RWA project to users in the AO ecosystem.
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