Cannabis NFTs: All hype or way of the future?
Twisted Tree Frog Massive, PotPunks, Blazed Cats, Cannasaurs — are these whimsically named NFT projects just expensive weed-themed toys for crypto bros or a new way of life for stoners on the blockchain? Let’s investigate. The future of weed is in the mAPP What’s an NFT? Before we dive into the world of weed and cyber currency, what exactly is an NFT? Think of it as original digital art collected in a crypto wallet. NFT stands for “non-fungible token” and non-fungible means something that can’t be traded for something else. For example, you can exchange one dollar for another dollar, but a numbered and signed limited-edition photography print cannot be exchanged for that exact print. And it’s not just art that drives enthusiasts to collect. The digital collections — typically featuring stylized, color-saturated illustrations of visibly baked caricatures — come with utility, which is the value attached to the NFT. Utilities can range from memberships to exclusive communities, invitations to meet-ups in exotic canna-friendly locations (like with Cannabis Crypto Club), to monetary donations for cannabis advocacy groups such as The Last Prisoner Project and The Redemption Foundation. Film photography, multiplayer gaming, and other cult niches have also found homes in the NFT world, which offers highly engaged communities on Twitter and Discord for creators and collectors alike. Fostering community through cannabis and NFTs Crypto Cannabis Club, the unofficial gold standard and largest Canna-NFT community, sold out its first mint of 10,000 digital art tokens — cheekily named “NFTokers” — shortly after its highly anticipated August 2021 launch. The goal? According to CCC’s website, “to provide the NFT owners in our community with the most exclusive cannabis experiences in the Metaverse and the real world.” True to its word, membership benefits include experience-based perks like invitations to its recent soiree at…
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