Crypto can seem like a technology in search of a business model.
While the blockchain has obvious allure for the cannabiz, which can’t access the financial system, it also comes with significant complications. The metaverse, meanwhile, is still in the land grab stage, but some see an opportunity to plant virtual seeds.
Ryan Hunter. CEO of early mover Crypto Cannabis Club, describes the company as a social club with NFTs as membership cards. CCC launched its collection of 10,000 NFTs in July on the Open Sea marketplace. They “minted out” and now trade for between $500 and $10,000 each, depending on whether the dude on the NFT has a hat, a green mohawk, alien skin or other traits seen as more or less desirable.
- CCC makes a royalty payment on each sale.
- NFT Holders also get a discount on CCC’s brand, which sells eighths with “commemorative” NFTs. They don’t confer the same privileges as the NFTs sold through Open Sea.
- CCC’s own cannabis brand has launched in California, available exclusively on the CampNova platform.
CCC has also acquired two properties in Cryptovoxels, a “virtual world” built on the Ethereum blockchain.
- It’s building one into a “virtual dispensary” where it can stream events and performances and link to its partners’ sites.
- The other property will have a game play experience, Hunter said.
These virtual spaces can can blend into IRL. When we spoke on Friday, Hunter was in Playa del Carmen, in Mexico’s Yucatan, where holders of CCC NFT’s were converging from several countries for a beach weekend. Activities are free for the Open Sea NFT holders after airfare and hotel.
- Hunter said he expected 80 people to show up. A spokesman said later said about 30 made it.
- Next on CCC’s event agenda is a 4/20 event in LA.