Frontiers · Digital Farmlands · Model methodology
How the numbers are made.
Appraisal methodology
How the model works
Regional starting yields and appreciation rates are authored examples, not research estimates. Assumed
FX compounds annually and converts local cash flows to USD. Debt is interest-only and repaid at exit. Fees apply to opening gross asset value. Net carbon yield starts in year 3. A shock affects farm income only in the selected year.
IRR uses annual cash flows and is not reported where multiple sign changes make it ambiguous. NPV discounts at your nominal USD hurdle. The equity multiple divides positive cash flows by all contributions, including deficits.
Excluded: entity/investor tax, withholding, amortisation, performance fees, detailed capex, hedging, default/recovery, reserves and reinvestment. Exit assumes a sale is possible; no probability is assigned.
Evidence limits: historical returns in the source manuscript are not used as forecasts; NCREIF figures, platform totals and carbon premiums are not independently verified; no guaranteed liquidity or regulatory approval from a token standard is assumed.
Primary-source register
Reviewed 30 September 2026. A dated snapshot; there is no live data feed.
2026 U.S. farm real estate: $3.60tn, $4,500 per acre and 3.4% nominal annual growth. Corn Belt and Pacific cropland averages provide regional context. Updated 23 September 2026.
Explains foreign agricultural interest reporting and points to current regulations. Reporting obligations must not be represented as a universal ownership cap.
Covered U.S. real-property dispositions generally face 15% withholding on amount realised, subject to exceptions and special rules. Actual investor tax outcomes need separate analysis.
Describes a resale safe harbour, holding periods and other conditions. It does not promise a market for restricted tokens.
Water markets support the distinction between entitlements, allocations and land. No historical water return is included in the financial model.
Agricultural carbon accounting reference. Eligibility, methodology status, verification costs, issuance and sale proceeds require project-specific review.