Cannabis Dispensaries in the Metaverse

The metaverse is a futuristic, more immersive and next-level version of the internet. This new digital realm has already accommodated the first cannabis dispensaries. Up until now, a handful of digital dispensaries have been launched at Ethereum-based game worlds such as Decentraland and Voxels (previously CryptoVoxels).

Crypto might be an exceptionally volatile territory, but nothing seems to dissuade tech companies from investing in it. Virtual dispensaries that can be accessed via web browsers, are essentially online weed shops where visitors can purchase cannabis and paraphernalia that is then shipped to their home address. 

The metaverse also has its own NFT community of cannabis aficionados. The Crypto Cannabis Club recently launched their own metaverse dispensary and the event was accompanied by a real-time gather-up in downtown LA. 

The Crypto Cannabis Club has 6,000 members who use a "toker," which is an NFT that displays a stoner quality character. Members can use the toker to get discounts or access in-person community events. The floor price for a toker currently sits at around 0.15 ETH, or roughly $300, and its price may grow (or drop?) in the future!

Who Creates Virtual Cannabis Dispensaries?

Weed dispensaries in the metaverse appeared thanks to people with previous experience in the cannabis sector. As an example, the Crypto Cannabis Club has a former COO at Willie Nelson's brand as its current CEO, that is Ryan Hunter. The club founders include Kevin and Jim Fitzpatrick, who both have nearly a decade of experience in cannabis before entering the crypto sphere in 2020. 

What creators of digital dispensaries do is they use the power of community to embed the cannabis industry into the metaverse. The business model functions with people who are both into cannabis and into virtual reality as well. 

In Hunter's view, the metaverse is a bridge between real-world marijuana users and supporters and those who share a passion for virtual experiences. About 20% of the Crypto Cannabis Club is based in California; the organization has its most active chapter in Southern California. 

“We’re trying to intentionally create a community of folks that are part of the cannabis community in the real world, and want to be a part of the cannabis community as it expands into the metaverse [and] these virtual communities that are developing,” Hunter says in a recent interview. 

What Are NFTs?

NFTs can really be anything digital, including drawings, music, portraits and other works of art. An NFT is used as a deed of ownership to an item: it could be a profile picture, collectible, or video game item, and it can have a utility such as access to special virtual and real-life experiences. China and Hong Kong are the two top places with the highest search interest in the "NFT term" and OpenSea is currently the biggest NFT marketplace with over 2 million traders and above $32bn in sales. 

Each NFT collection has a worth and attracts a community of people. The Crypto Cannabis Club for one was launched in 2021, and it unites people because of cannabis. Launching a digital cannabis shop on Voxels seemed the next logical step for this cannabis club and that is where the club will continue to exercise its NFT value next.

What's it Like at a Metaverse Dispensary?

The Crypto Cannabis Club's dispensary launched in time for the 4/20 unofficial cannabis holiday and is now available for all to explore in Voxels. If you've ever played Minecraft, the sight of the venture will be a familiar picture.

At first glance, entering this dispensary in the virtual realm may feel like a solitary experience. The venue is situated alongside other virtual objects, but it has pixelated versions of cannabis plants to signal that you are on the right spot. There may be a few other avatars roaming the space or none else but your avatar.

For those interested to buy weed from this virtual place, there are real-world weed brand logos. Just by clicking on the brand logo you are redirected to the particular brand you're interested in. In the future they might even have an AI vendor that approaches the avatar with a special offer, just like there is a budtender in real-world dispensaries. 

In addition, the Club offers its own branded marijuana products, and residents from California can order and have them delivered via a separate link embedded in the metaverse realm.

While this doesn't sound like the ideal cannabis dispensary shop (it certainly doesn't smell like weed once you enter), the lure is again in the NFTs. You don't have to have an NFT to be part of the fun, but membership means perks such as discounts on featured weed products and access to gated online and offline events.

Like other virtual communities, the Crypto Cannabis Club hosted a virtual launch party when it opened its VR shop, accompanied by live music from a DJ. Simultaneously, it organized an in-person meet-up in Los Angeles. 

These activities would be no different from what other metaverse investors are currently doing—hosting virtual parties as part of their PR or other activities such as inviting virtual speakers or organizing movie nights. All is game as long as it maintains the interest of visitors.

To sum up, there's currently a great deal of excitement surrounding NFTs. It's easy to anticipate that the number of virtual cannabis dispensaries in the metaverse may grow in the future. It all comes down to consumers and whether they'll keep on finding thrill in getting their stash of weed in the digital realm. 

Also read on Soft Secrets:

- Ancillary Companies and the Cannabis Industry

- How Would Steve DeAngelo Reimagine Cannabis?

- How to Get into Cannabis Industry?