Bitcoin: Blockchain & NFT Trade for Cannabis? BudBlockz is the answer
Mr. Pratik chadhokar is an Indian currency, cryptocurrency and financial market advisor and analyst with a background in IT and financial market strategist. He specializes in market strategies and technical analysis and has spent over a year as a financial market contributor and observer. He has strong technical analytical skills and is known for his entertaining and informative analysis of the financial markets.
- BudBlockz is a global online shopping destination for cannabis and funky NFTs.
- It is powered by Ethereum and the token is listed on Uniswap.
- Partners include dispensaries in selected weed-friendly locations.
Can I really buy weed on the blockchain?!
Yes, it’s possible now, but only if you’re in select locations… Read on to find out where and how.
BudBlockz is an ecosystem where weed lovers can buy cannabis using BudBlockz’s BLUNT token. It opens up dispensaries to sell cannabis and related products in weed-friendly areas globally. It will also work with new businesses entering the industry.
The world’s first cannabis online store is global. It currently has partnerships with dispensaries in the US (California), Amsterdam, Portugal, Spain (Barcelona), the Czech Republic and Belgium.
Built on the Ethereum blockchain, BudBlockz will perform member verification and grant licenses to users via NFTs. The smart contracts have been audited by Solidity Finance and Solidproof.
The BLUNT token is listed on the Uniswap exchange, at an initial price of $0.013. On token generation day, 134 million tokens were generated. The total offer is set at NOK 420 million.
Since BLUNT is an Ethereum-based ERC-20 token, it can be exchanged for other Ethereum-based assets with the same configuration. In essence, this facilitates interoperability that makes the marketplace theoretically and geographically global.
Over 73 million tokens were sold out during the presale event. 105 million tokens form the liquidity of the ecosystem. More than 75 million tokens were dedicated for marketing purposes.
The online trading site is also planning to conduct a token burning event and will soon introduce the staking feature.
The Ganja Guruz NFT Collection and Why You Should Own One
To become a verified member of the BudBlockz ecosystem, one must purchase a Ganja Guruz NFT. 10,000 of these have been minted and can be found at Opensea. Ownership of these NFTs provides access to the key fractional ownership market. Fractional ownership means that a user can own a percentage of a farm or dispensary and earn “dividends” from the growth.
The artwork is a collection of characters with outfits inspired by 1990s video games. Owning a Ganja Guruz not only gives access to members only events, the KYC application, but also access to all dispensaries globally. In addition, holders will also be entitled to discounts on products.
How does BudBlockz make a difference?
Fractional ownership can solve a major problem facing the industry – fundraising. Establishing businesses in most jurisdictions is expensive due to high capital requirements. By using shared ownership, community members can share the cost burden and profit from the dispensary or farm’s growth.
Leveraging blockchain and the technology that powers Non Fungible Tokens (NFT) to generate value outside of the financial and money market worlds is important to the growth of the crypto and blockchain industry. BudBlockz’s business creates value through blockchain and it uses NFTs to ensure security. This is a healthy way to promote crypto adoption since it can apply to other products that are not on the network.
Jurisdictions that allow the sale of weed have intricate and cumbersome rules. These include seed-to-sale logistics and all data surrounding it. BudBlockz aims to help the community by allowing members to learn and analyze data about this industry using the site.
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