From flower strains to CBD-infused food, there’s no shortage of cannabis products. But one new cannabis venture even the most knowledgable cannabis aficionados may not have explored goes beyond the confines of the physical world. We’re talking about cannabis in the metaverse.
If you’re like most people, you’ve probably seen the word “metaverse” all over the internet and been lectured at about its importance by various sources, but still have no idea what it actually means. Don’t worry, you’re not alone.
We researched frequently searched questions about cannabis in the metaverse, and found the answers. Here’s what you need to know about this hot emerging avenue for cannabis lovers, gamers, and investors.
Why are cannabis companies moving into the metaverse?
The metaverse, cryptocurrency, and non-fungible tokens (NFTs) are all rapidly expanding.
Brands are no longer limited to the physical world. And it gives cannabis lovers, gamers, and investors a new avenue to explore their love for bud.
How does the cannabis industry function in the metaverse?
Users can farm, purchase, or even “breed” bud strains in the metaverse. Some platforms offer a tangible products delivered to people’s doors with a purchase made in the metaverse, but others keep the digital cannabis on the blockchain and as NFTs.
An NFT is essentially a digital, non-tangible collectible item. Users purchase them with the hope that their value will rise over time. Cannabis NFTs are just one branch of this digital investment. They’re typically held on the cryptocurrency Ethereum blockchain.
Cannabis is also experiencing what is called “gamification” in the metaverse. By creating games centered around a product such as cannabis, companies are exploring an emerging avenue to promote engagement. From social networking to achievements, there are many different platforms that gamify the cannabis metaverse experience.
In short, cannabis in the metaverse is an emerging yet highly popular meta-niche that garners interest from cannabis lovers, investors, and gamers. Many cannabis companies are going digital to appeal to this interest while existing metaverse platforms are partnering with cannabis experts to cater to audiences’ interests.
To Read The Rest Of This Article By Kassidy Vavra on GreenState
Published: June 06, 2022
Founder & Interim Editor of L.A. Cannabis News
