Weed and NFTs

Liz Filmer
13 Jul 2022

The blockchain technology, referred to by some as just hype, is far from over. Despite the downsides to crypto technology, some aspects are worth talking about. NFTs aren't just limited to the mega-rich; They're a powerful tool for connecting communities.

What more promising community to build an NFT project around than cannabis—an industry moving almost as quickly as NFTs. One of the most popular is Crypto Cannabis Club—a venture that aims to connect 10,000 stoners in the metaverse.

"Crypto Cannabis Club "came from an idea to create a collection of NFTs that were cannabis-themed characters. That was the starting point, an idea we could anchor around." But Hunter also added how it's really "about creating a community experience. Our goal is to create a community of cannabis consumers that crosses into the real world and the metaverse and virtual communities." -CEO Ryan Hunter.

It's a stoner's social club, partly based in the virtual world and partly in the real one. They play NFT games, which allow people to earn cryptocurrency and prizes. This works by creating places for the community to gather in the metaverse.

"In the real world side of things, though, is where we're expanding into the cannabis community today. We've already hosted several real-world events in LA, New York City, and Miami to a planned event in Mexico. 

Purchasing one of the weed-themed NFTs is a ticket to real-world events and an extensive online community of cannabis enthusiasts. But it doesn't come cheap, with prices starting at $600. But this is the nature of NFTs, demand drives up the price, so it's within the project's best interest to keep its membership exclusive. 

But are NFTs dodgy? For example, in October 2021, an NFT developer vanished with 798 Ether—around $2.7 million, leaving investors with nothing but a JPG file. It's easy to see why users could be sceptical. The best advice to anyone seeking involvement is to do your research. 

"Like any financial instrument, there's always going to be a market, and the prices will always fluctuate over time. But we have a long-term vision: we're focusing on building our community, not just on the price of the NFT. We believe the price will follow if we do an excellent job building a committed community. Or in other words, it'll get the price it deserves." -CEO Ryan Hunter.

NFTs, in general, are straightforward to dismiss as just hype. Still, suppose you take a closer look at how the ways that people are communicating are changing. In that case, the concept behind NFTs becomes clearer. For example, look how people are now using memes instead texting. This is another example of using digital assets in a new way.

Humans like to collect things they have seen across cultures and times, and the attraction to NFTs is the same. Not all NFT projects will be around in years, but the overall interest in NFT will. 

Liz Filmer