All you need to know about cannabis and NFTs

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An artwork unlike any other was recently released by a Toronto cannabis company. With a wink and a nod to the global weed celebration 4/20, Fire & Flower Holdings Corp., partnering with artist Amr Elkouedy and consultancy Angry Butterfly, issued Non-Fungible Toke , a tongue-in-cheek digital art piece featuring a looping billow of multi-coloured smoke encased in glass. Blood for weed? How companies are thinking outside of the box to mark this 4/20 How this Vancouver company’s plan to be a game-changer hinges on human trials of cannabis vapes Slashing weed jobs, diversifying the industry and identifying the skunk in the room While the piece is being auctioned off, the top bidder won’t be able to touch his or her new possession. But that’s the point: it’s a non-fungible token or NFT. The digital asset can’t be faked or stolen, although its value can grow as high as prospective buyers believe it should. What exactly is an NFT? At their heart, NFTs “are digital assets that represent a wide range of unique tangible and intangible items,” explains CoinDesk, a news site specializing in bitcoin and digital currencies. Each NFT, which are digital assets composed of unique lines of code stored on a blockchain , is one of a kind. It “contains distinguishing information that makes it both distinct from any other NFT and easily verifiable,” reports CoinDesk , pointing out that “each item can be traced back to the original issuer.” That specific, yet muddied, definition covers off as many things as one can imagine, everything from an NFT of Twitter CEO Jack Dorsey’s first tweet selling at a jaw-dropping $3 million to a Toronto artist cashing in over $500,000 after the sale of his digital NFT house and a cannabis company selling what is believed to be the first…

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Source : All you need to know about cannabis and NFTs

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