Image from rthanuthattaphong
Two emerging industries — cannabis and NFTs — are colliding, signaling the beginning of crypto cannabis.
Non-fungible tokens (NFTs) feel like an illusive concept of the cryptocurrency craze. But different cannabis companies are creating online spaces for trading, and some go as far as donating portions of proceeds to different charities.
What even is an NFT? The “non-fungible” aspect means that these online tokens are unique and cannot be traded for something else. According to Green Entrepreneur, NFTs include art, music, memes, videos and more.
Because they’re so unique, NFTs can help brands create a special connection with consumers that didn’t previously exist. Many companies even offer special perks and privileges.
These perks can extend to cannabis cultivation. For example, “NFTs could serve as a means of registering your crops so that there is a digital record, time stamped, that cannot be altered, to show that [they] were the ‘first’ in creating this particular strain,” also according to Green Entrepreneur. This adds another level to the special qualities of NFTs.
Different brands are at different stages of development and popularity, and because NFTs are rare and limited, they’re all able to create different concepts amongst themselves.
Learn how to get more involved with digital currency, NFTs and cannabis. Here are seven cannabis companies that are embracing the crypto connection.
— Cosmicknox (@CosmoNektr) February 21, 2022
Post from @CosmoNektr on Twitter.
According to their website, Nektr, is the first cannabis NFT game token. They allow shareholders to play-to-win low or no cost medical grade cannabis or hemp products. Nektr focuses on mental, physiological and spiritual balance.
Additionally, Nektr supports charities that provide food, clothing and shelter through their earnings.
Nektr displays their tokenomics, or their supply and demand breakdown, according to Coin Market Cap. A crypto token is the digital unit for BNBs. Tokenomics are important to clarify the link between the crypto platform and the asset, and to determine the price of a token revolving around scarcity and inflation.
Nektr’s tokenomics show that 5% of their tokens are in circulation. Another 5% are won through game rewards; 5% exist in shareholder’s wallets; 20% for marketing; and 65% are currently available. Those interested in purchasing Nektr can buy at 8% and sell at 12% of a portfolio. But because of the high risk and high reward outcomes of crypto, Market Watch recommends buying cryptocurrency between 1-5%.
The Crypto Cannabis Club has 10,000 “NFToker” avatars. These avatars reflect all kinds of cannabis users. According to their website, each token is generated by an algorithm to combine different professionally illustrated properties across nine categories.
Photo from @cryptocannaclub on Instagram.
The website is used to create and sell digital cannabis plant NFTs on the markets. The company is working with cannabis brands to create exclusive merchandise and collaborations for NFTokin holders.
They also hold a podcast on Wednesdays at 7:30 p.m. EST to share plans with the community, talk with guests and educate the NFT community overall. They plan to go on the road for trade shows in the U.S., Canada and Europe to further educate the cannabis community on NFTs.
On top of all of their ambitions, the company is developing a game for shareholders. For example, shareholders can take their online purchased plants to breeding rooms “where they can use the data collected from competing and breed a new NFTokin plant” to produce a winner, according to the company. These competitions can lead to the Crypto Cannabis Cup for plant breeding.
The Crypto Cannabis Club extends across three metaverses, or different digital economies, according to Wired. Through these digital economies, developers are working to create interactive online communities with sponsors, giveaways and merchandise.
Though currently sold out, anyone interested can purchase NFTokers on OpenSea.
40 Tons is a social impact brand dedicated to helping prisoners incarcerated for cannabis. The Black and female-owned cannabis, clothing and accessories company is based in Los Angeles, according to Respect My Region.
40 Tons highlighted a prison cell booth at a Las Vegas convention for cannabis retailers. The company aims to call out the hypocrisy in the industry now that cannabis is legal. Therefore, purchasing their NFT art helps a prisoner: a percentage of the profits from buying or selling goes to a prisoner incarcerated for cannabis.
Their community initiatives aim to assist with “direct and indirect financial assistance, job opportunities, connections and more,” according to Respect My Region. For example, the company supports prisoners through expungement and career fairs. NFTs are another way they help raise funds.
PotPunks, launching this April 20th, celebrates the diversity of cannabis users. There will be six distinct character types, all using a joint, bong, bubbler, blunt or vape pen, according to their website. For example, characters include humans, animals and more.
Upon their first drop, only 420 PotPunks will be available. Furthermore, five percent of proceeds on OpenSea go to the Weldon Project, an organization that financially aids those incarcerated for cannabis.
Califari creates art for cannabis and CBD products. The website offers cannabis, music, NFTs, a blog and CBD and delta-8 products.
Photo from @califari1 on Instagram.
In an interview with Westword, Califari owner Jason McHugh said that they aim to highlight the connection individuals have with cannabis strains and art. To add, the company wants users explore the different personalities that cannabis offers.
Furthermore, Califari drops NFT art patterns to help benefit The Last Prisoner Project, which serves to set all prisoners incarcerated for cannabis free. The series combines cannabis, music and art. They have over 65 cannabis strain designs in collaboration with global artists. To purchase one of these unique strain designs, Califari artistic NFT trading cards can be purchased on OpenSea.
Photo via @stonercatstv on Instagram.
Stoner Cats is an online show with five to seven minute long episodes, according to their website. Their inspiration stems from the older internet’s obsession with cat superstars like Nyan Cat. The animated cat-speakers on the show talk after consuming cannabis, reflecting cats on cat-nip.
Moreover, to get access to episodes, watchers must purchase NFT collectibles in the form of a “Stoner Cats TOKEn.” The website also mentions access to other exclusive perks.
Stoner Cats has celebrities like Jane Fonda, Seth MacFarlane, Chris Rock, Mila Kunis, Ashton Kutcher and Vitalik Buterin on board. Fonda plays the role of the matriarch over the six cats.
Photo via @thepeakzcofficial on Instagram.
Green Peakz LLC (Peakz) began selling digital cannabis bags as an NFT and have continued the momentum with Digi Strains, reports Respect My Religion.
According to an Instagram post from Peakz, holders can show off their purchase or smoke cannabis virtually.
In addition to showing off purchases, their metaverse contains the first ever virtual dispensary, according to the post. They also said that those who purchase tangible strains in 2022 will receive a barcode for a free Peakz NFT to receive a collectible.