The blockchain and the cannabis industry continue to merge in different ways
The arrival of non-fungible tokens (NFT) in the cannabis industry could bring many positive impacts to its popularity and growth. Cannabis private equity firm Merida Capital Holdings and cannabis art pioneer Califari announced yesterday that they have joined forces to create a platform capable of using non-fungible tokens (NFT) to create and distribute artwork that reflects the essence and passion that the cannabis community currently has for the famous plant. The platform is yet to be named, but it has been said that cannabis companies will also benefit as it will offer them brand development and gamification opportunities.
One of the main ideas is to have a centralized digital space that allows the entire cannabis community to enjoy the art, creativity, culture, and even commercial growth that has been presented by the increasing legalization of cannabis in recent months. This innovation comes after millions of consumers and monthly patients have been reported across the country. Many of the cannabis followers have sought effective ways to celebrate its growth in order to unite a community that shares many things in common.
Califari will undoubtedly take advantage of the wide range of cannabis companies that Merida currently owns in order to launch an initial series of NFTs based on the art of existing strains. This first issue of NFTs is scheduled for release on April 20, which will consist of five unique digital cards from some of the most recognized and creative names in the business.
In order to properly distribute this initial batch of cards, Califari plans to use OpenSea, considered the world’s most reputable marketplace when it comes to user-owned digital products.