Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
- BudBlockz is a global ecommerce destination for cannabis and funky NFTs.
- It is powered by Ethereum and its token is listed on Uniswap.
- Partners include dispensaries in select weed-friendly locations.
Can I really buy weed on the blockchain?!
Yes, it is possible now, but only if you are in select places… Read on to find out where and how.
BudBlockz is an ecosystem where weed lovers can buy cannabis using BudBlockz’ BLUNT token. It is opening up dispensaries to sell cannabis and associated products in weed-friendly areas globally. It will also work with new businesses entering the industry.
The world’s first online ecommerce for cannabis is global. Presently, it has partnerships with dispensaries in the USA (California), Amsterdam, Portugal, Spain (Barcelona), the Czech Republic and Belgium.
Built on the Ethereum blockchain, BudBlockz will conduct member verification and grant licenses to users via NFTs. The smart contracts have been audited by Solidity Finance and Solidproof.
BLUNT token is listed on the Uniswap exchange, at an initial price of $0.013. On the token generation day, 134 million tokens were generated. The total supply is fixed at 420 million.
Since BLUNT is an Ethereum based ERC-20 token, it can be exchanged for other Ethereum based assets of the same configuration. Essentially, this facilitates interoperability making 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 ecommerce website also plans 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 needs to purchase a Ganja Guruz NFT. 10,000 of these have been minted and can be found on Opensea. Ownership of these NFTs grants access to the key to the fractional ownership market. Fractional ownership means a user can own a percentage of a farm or a dispensary and earn ‘dividends’ from its growth.
The artwork is a collection of characters with outfits that are inspired by video games of the 1990s. Owning a Ganja Guruz not only provides access to members only events, the KYC application but also access to all dispensaries globally. Moreover, holders will also be eligible for discounts on products.
How BudBlockz is making a difference?
Fractional ownership could solve a major problem the industry is facing – fundraising. Establishing businesses in most jurisdictions is expensive due to high capital requirements. Using fractional ownership, community members can share the cost burden and earn from the dispensary or farm’s growth.
Leveraging blockchain and the technology powering Non Fungible Tokens (NFTs) to generate value beyond the world of finance and money markets is important for 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 of promoting crypto adoption since it could apply to other products that are not on the network.
Jurisdictions that allow the sale of weed have intricate and cumbersome regulations. These include seed-to-sale logistics and all the data around it. BudBlockz aims to help the community by allowing members to learn and analyze data about this industry using its website.
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Source: https://www.thecoinrepublic.com/2023/03/13/bitcoin-blockchain-nft-trading-for-cannabis-budblockz-is-the-answer/