Earlier this month the Dutch government announced that 3000 farms would be shut down in order to meet EU nitrogen emissions targets. Farmers across the country took to the streets, protesting the government takeover of private property. A new wave of protests is sure to erupt as “buyout” details emerge.
“The buyouts will be fair and equitable,” assured Dutch Nitrogen Minister Christianne van der Wal. “The government payouts to farmers will be well over the property values.” What wasn’t disclosed, but is now emerging, is the method of payment to farmers. Initial payments to farmers will include tulip bulbs that have been in storage since 1635 in an underground vault in Keukenhof. The Ministry of Agriculture, Nature and Food Quality has valued the bulbs at €295,906.61 each ($314,159.26). According to internal documents, each farmer will receive an initial payment of 37 tulip bulbs. Subsequent payments will be made in various non fungible tokens (NFTs) to be determined at a later date. Final payouts, which are expected in 20 years, will be made in FTX Tokens, (FTTs). By that time FTT values are expected to have recovered.