FarmOn.ph is a virtual farming website. Have you ever heard about virtual farming before? Virtual farming is a crowdfunding type of website that you can invest money in to help farmers in the Philippines. If you are not familiar with crowdfunding it works like this. You’ll put up a certain amount of capital. You get to choose how much you want to invest in the project. Now, you get to choose the farmer and the crop you want to invest in. You can only invest in this project at certain times of the year. It is always after one harvest and time to plant again for the next harvest. Just keep an eye on the site to see when you can invest. You’ll need to join the site and wait for one planting cycle to complete before you can invest in the next planting cycle.
How Does This Work?
Join: You’ll need to join the site and be a member of the site for one complete planting cycle.
Invest: You can now invest in the next planting cycle when it opens.
Selection: You can choose your farmer and the crops you want to invest your money in. Not all farms and products are available at each planting cycle. You’ll need to check the site to see which farms will be funded and which crops they’ll fund during the current planting cycle.
Plots: You will select the number of plots you want to fund. You can choose as many or as little plots that you’d like to invest in. At the bottom of the page, the site will calculate your investment. If this isn’t your first investment and you have an account balance on the site, you can reinvest this money for the next growing cycle.
Contract: You’ll get a contract from the site. However, if you want a notarized contract you’ll pay the site P250 for the contract. Once you know what you need to invest it is important to send the funds immediately. After you get your contract. When you receive your contract it isn’t possible to make any further investments or change your selection. You’ll need to send the company a photocopy of your investment, so they can make sure you’ve sent the funds.
How Do You Earn:
View: During the growing cycle, you’ll be able to watch each farmer and how they are doing. The company will handle monitoring the farmers, supplying them with the grain and all they need to make their crops grow. They send them fertilizer and pest control products to guarantee the crops are a success. They also have an agent assigned to the farm to make sure the farmers are fulfilling their obligation to you.
Harvest: At harvest, the company handles the sales of the products. This way the farmer gets a fair price for selling their products at the market. If the company didn’t handle this, the farmer would be ripped off and receive a very low price per kilo sold.
Funds: After the crops are sold you are paid on a First Pay, First Out Basis. The amount of money you earn will depend on the yield, your investment, and how much the crops were sold for. You can withdraw your funds or carry the funds over to the next harvest or growing cycle. If the crops fail the company will fund the farmer for a second growing cycle. This will recover your investment and you’ll just need to wait for another growing cycle in order to earn from your investment.
Has anyone ever invested in virtual farming before?