The Fart NFTs and Other Strange Assets on the Blockchain
It’s unusual to hear about people making a living through the blockchain by selling something as mundane as farts. That’s exactly what filmmaker Alex Ramírez-Mallis did during the pandemic. While many were focused on baking sourdough or leveling up in language apps, he recorded his own gas emissions and transformed them into NFTs. He managed to sell each for 0.05 ETH, which came out to about $85 at the time. The sheer novelty proved that even the most unexpected items can hold value in the digital space.
Ramírez-Mallis’s creative work stands as one of the most bizarre entries in an expanding list of assets finding their place on the blockchain. From livestock like cows to high-profile racehorses, the boundaries between the digital and physical are becoming increasingly blurred. Yet, it’s worth remembering that tokenizing something doesn’t automatically imbue it with value or legality. The real test lies in how well these digital representations function in the tangible world.
Cows, Uranium, and the Limits of Tokenization
In Brazil, an investment fund named Target FIDC approached tokenization in a very literal and literal-minded way. They created 10 digital tokens for cows, each linked to a unique encrypted identity. The idea was to use the cows as collateral for loans. On paper, it worked: a $19,600 loan was approved, and the project aimed to eventually support up to $80 million in financing across farms. It was a proof of concept with potentially vast implications, particularly for the agriculture industry.
Meanwhile, the radioactive metal uranium has also found its way onto the blockchain, thanks to metals.io, a company backed by the Tezos blockchain. Arthur Breitman, co-founder of Tezos, highlights the platform’s success over recent years. Between November 2024 and July 2026, the company recorded $21.5 million in trading volume, with approximately 18,200 trades and around 7,400 unique wallets involved. Despite these numbers, Breitman points out that institutional interest is still hesitant, with investors described as “still shy about tokenized rails.”
Not every tokenization experiment makes the leap to the blockchain. A Chilean fish-processing company once wanted to tokenize its debt, with returns tied directly to fish sales. Although the concept was intriguing, it never materialized because real-world systems like legal contracts and audits could not yet be fully automated. It shows that the biggest challenge might not always be the blockchain itself but the practical systems that surround it.
Tokenized Whiskey, Racehorses, and Music Royalties
Scotch whisky is another unusual candidate for tokenization. Some projects now offer investors the opportunity to own fractional shares of maturing casks, which are stored in bonded warehouses. The logic is similar to investing in art or high-end collectibles—value tends to rise as time passes. However, if the market takes a dive, remember that a digital image doesn’t mean you can sip on the barrel itself.
Racehorse ownership is being reshaped by tokenization too. A UK-based company called Stablemans allows investors to purchase digital shares in real thoroughbreds. Instead of needing to buy a whole horse, investors can get a stake in prize money, breeding income, and future sales. This approach makes horse ownership more accessible and inclusive.
Music is also joining the tokenization trend. In 2021, DJ and producer 3LAU sold 50% of the streaming rights to his single 'Worst Case' via the Royal platform. The following year, rapper Nas followed suit, tokenizing streaming royalties for two of his tracks using the same platform. These cases demonstrate that tokenization is not limited to cows or farts—though, to be fair, they remain among the most memorable examples.
Chris Turner, co-founder of impact investment firm KULA, cautions that tokenizing an item doesn’t necessarily enhance its value or liquidity. “Putting a collectible or luxury item on a blockchain doesn’t automatically make it more liquid or valuable if the legal rights, transfer process, and market structure remain unchanged,” he said. According to Turner, the real challenge lies in the real world, where legal agreements, verification, and trust are still necessary—even for digital assets.