Cannabis Goes to the Metaverse, Creating New Opportunities and Business Questions

Cannabis Goes to the Metaverse, Creating New Opportunities and Business Questions
CANNANNEW REPORT

Following in the footsteps of Californians, Coloradoans, Arizonans, and Bay Staters, denizens of the Metaverse can now step inside a cannabis dispensary and purchase cannabis products. Two cannabis brands have staked claims to their own Metaverse storefronts, where they will sell products to real life addresses in all 50 US States. Higher Life CBD and Kandy Girl each have acquired a property in the Metaverse (in Cryptovoxels and Decentraland, respectively), where they are accepting customers interested in purchasing both digital items (like NFTs and Metaverse wearables) and real-life cannabis products. Moving into the Metaverse, both replicates mundane concerns faced by nearly all businesses (real estate, employee management, and customer relations) and opens up new regulatory gray areas, such as inconsistent state and federal law governing advertising, marketing, sale, and possession of marijuana products. Both Higher Life CBD and Kandy Girl have styled their Metaverse storefronts as virtual dispensaries. While Kandy Girl attempts to avoid state laws outlawing sales of cannabis by selling THC gummies (consisting of no more than .3% delta-9 THC extracted from hemp), which are legal under federal law, some cannabis products presently can only be shipped in a limited number of states. For now, purchasers seeking cannabis products in states where cannabis sales are not legal are limited to CBD purchases only. However, as the tenor of state and federal law slowly shifts towards legalization, more states may become markets for cannabis products – and the brands already known to purchasers, digital or otherwise, will have an advantage once those sales are allowed. Cannabis companies operating in the Metaverse can also use their digital storefronts to change their customer service operations. For instance, expert budtenders can provide advice to potential clients anywhere in the world and display other products and strains that may suit the customers’ wants…

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Source : Cannabis Goes to the Metaverse, Creating New Opportunities and Business Questions

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