The rise of blockchain technology is making it easier for cannabis businesses to accept digital payment methods. In the metaverse, the cannabis industry is making its mark by expanding its reach.
Cannabis-related companies such as Crypto Cannabis Club and CampNova have established a presence in the metaverse. These companies mint cannabis-related non-fungible assets. The cryptocurrency will formally launch in 2022. This company hopes to attract cannabis consumers with its new brand of cannabis-related products.
The crypto-currency has several advantages over traditional currencies. Cryptocurrency can also be accepted as payment for hybrid marijuana seeds for sale and other cannabis products by cannabis-related companies. In addition, many cannabis firms are creating their own digital tokens.
This will allow cannabis businesses to participate in digital competitions. Although the founders have not revealed the parameters for cannabis-related plants’ qualifications in the metaverse, they have gotten the attention of many brands of cannabis. Members will be entitled to exclusive discounts and benefits.
Crypto Cannabis Club
The Crypto Cannabis Club, a community of tens of thousands of members, has recently partnered with a delivery service called CampNova to launch a direct-to-consumer offering. In addition, they are building a virtual dispensary on Cryptovoxels, where they will sell products from partner brands and even cultivate their own crops.
Virtual launch parties with live music and a DJ have been hosted by the crypto cannabis club in the metaverse. They also organized a meetup in Los Angeles for investors. These activities are typical of other metaverse investors, who organize virtual parties for PR and invite virtual speakers. They even organize movie nights and host virtual parties for investors.
CanPay
With the advancement of digital currency, the Cannasaur NFT project is bringing cannabis and blockchain together to make a cryptocurrency for marijuana. Launched on Nov. 30, the cryptocurrency will sell 4,420 non-fungible tokens along with digital dinosaur art to raise funds for the Last Prisoner Project and The Redemption Foundation.
The legalization of marijuana in the United States has spurred many fintech companies to develop digital payment methods that will help dispensaries accept payments through a secure network. This is particularly important because major card networks have avoided the cannabis industry due to legal concerns. Once legal, though, the big card networks will be more likely to accept payments made through a cannabis dispensary. But until then, the industry will need to rely on other payment methods.
Snoop Dogg
The first ever Grow-and-Earn project for cannabis in the metaverse will feature Snoop Dogg and Champ Medici digital weed farms. These virtual weed farms will include a grow-to-earn feature and a variety of land-related utilities.
Users will also experience growing weed with sunlight virtually. In addition to the digital weed farms, MOBLAND will offer its users exclusive content from Champ Medici.
In addition to his work in the virtual space, Snoop Dogg is making moves in the metaverse. He has filed trademarks for cannabis products and released a metaverse music video. In addition, he has also filed trademark applications for cannabis products in the metaverse. Interestingly, one fan has already paid $450,000 to become Snoop’s virtual neighbor in the metaverse.
MonsterBuds
If you’ve been following cannabis and cryptocurrencies for a while, you’ve no doubt heard about MonsterBuds, breedable marijuana-inspired NFTs. They are currently available for sale in the metaverse, with prices ranging from 0.392 ETH to $1466. But how do these products work?
The basic idea is that a MonsterBud grows from seeds over five days, changing its growth state every 24 hours. It grows from seed to bud, revealing its programmatically generated traits.
While the concept of NFTs may be difficult to grasp, it is also an exciting one.
As a result, VR cannabis ventures may continue to grow steadily over the years, depending on consumer demand and consumer preferences. Voxels, for example, has created a virtual weed delivery site. This could mean a bright future for cannabis NFTs in virtual worlds.
Side notes
The future of marijuana is nebulous, but it is already gaining momentum in the digital world, particularly in the US. In the metaverse, a decentralized platform where a person creates a virtual avatar and can interact with other users, cannabis brands can sell products and receive discounts and rewards.
The platform follows the principles of Web3, a new web framework based on decentralization and the abolition of corporate control.
It is possible that cannabis marketers will be able to talk up their product better in the metaverse than on other platforms, but it is far from certain. Cannabis entrepreneurs are hoping to capitalize on the growing cannabis market through the metaverse to expand their brand presence and eCommerce presence.
