Mexican Tequila industry being redefined through blockchain
According to Mexican government, the tequila industry is expected to touch $3.7 Billion by 2030. Ever heard that one of the major ingredients used in tequila comes from a plant, Agave? The plant grows from the southwestern U.S. through the northern part of South America. Agave has about 60 calories per tablespoon, compared to 40 calories for the same amount of table sugar. It is found heavily in arid and semiarid regions of Mexico and the Caribbean. The blue agave is the one used in the production of tequila. Companies have now started to integrate the industry with blockchain.
The blockchain technology has seen major uprising in last 2 years and has the potential to redefine the way tequila industry is operated. One such company in entering the market via integrating blockchain is a Mexico based AgaveCoin.
The token is developed on Ethereum ERC-20 platform, and was presented in November 2018 as a digital asset based on the profitability of the Agave industry. The company projects its initial value in token offering it from US $ 0.01 to US $ 1.2 for the year 2025. The funds raised will be invested directly in the operation of the ranch business, which implies both producing agave and producing-exporting tequila or mezcal.
Value projectionApplications of agave industry
Miguel Martín, a professional trader and an analyst of Cripto Activos, and the project’s founders Alfonso Solórzano and Jonathan Miranda, declared that “Agavecoin is the only crypto that is based on real projects in the industry of tequila and mezcal in Mexico”.
On January 12, the company faced a setback. They were hacked, so there was a need to close markets and remove the token from all platforms. All the money was returned to users who bought stolen agavecoins and the legitimate ones were swapped with the new one. The corresponding complaint was filled to the competent authorities and ther was asked to blacklist the btc and eth addresses used to receive part of the thefts.AgaveCoin supply the tequila industry
Coming back stronger
Since then the company has returned stronger and, from this May onwards, a monthly reward will begin for the true agavecoin holders. The remaining supply will automatically be sold at the market price and all the added value of the sale will be invested in the project. This strategy that will result in agavecoin not having a fixed price cap and may reach unplanned values. Thereby this project can reach gigantic dimensions.Coinmarketcap snapshot
According to Coinmarketcap records, AGVC has shown a sustained growth becoming positioned in the ranking 336 with a market capitalization of US $9.12M.
Until reaching the total sale of the supply and achieve the goal of global production, the team is committed not to sell its supply, this way the project will be safe. Agavecoin does not devalue its value in exchanges, the supply is placed in circulation in relation to its demand in the market and it is sold above 0.15 US . It is also indicated that each agavecoin token is 100% backed in the production of agave in the real market,the coin relies on the value of the land acquired.
The company is also thankful for help and support of Southxchange (awarded ADVFN International Financial Awards 2019) and believes in their potential and honesty.
Users can use Swift.pro app that can send agavecoin or any cryptocurrency through social networks or use it as a means of payment.