The community of digital “NFTokers” is launching a real-life cannabis brand, with Crypto Cannabis Club members receiving special discounts and benefits.
Crypto Cannabis Club, one of Boardroom’s top NFTs of 2021, launched its own physical cannabis brand and named cannabis industry veteran Ryan Hunter as its new CEO, the company announced Wednesday.
Crypto Cannabis Club is partnering with leading direct-to-consumer cannabis platform Camp Nova in March, with CCC NFT holders getting 30% discounts to start for product delivery in California. The goal is to reinvest profits from cannabis sales to steadily increase discounts to its members up to 100%, as close as the law allows. Each 1/8th ounce package of premium flower will include custom artwork from the CCC and three packages will include ownership of an NFToker, which has a current $800 average value, per NFT-Stats.
The collection of 10,000 stoner non-fungible tokens — called “NFTokers” — launched in August on the Ethereum blockchain, with the iconic duo of Cheech Marin and Tommy Chong joining last week. There are currently more than 4,200 NFToker owners, with $178,000 in trading volume over the last seven days. And 60% of club members buy cannabis products monthly, 40% buy weekly, and 40% spend more than $150 per store visit, the company said.
“Our global community has grown tremendously and we are excited to reward them with their very own cannabis brand,” Hunter told Boardroom. “For our community members, this is an opportunity to enjoy some of the highest quality cannabis available at prices that are just not offered in the legal market.”
Crypto Cannabis Club will also be kicking off a fundraising round starting next week, with plans to raise up to $5 million to fund new hires, an omnichannel marketing program and roadmap development. The company says it’s in the process of meeting with prospective investors to accelerate its growth plans.
Since the August NFT launch, Crypto Cannabis Club have established partnerships with Ricky Williams’ Highsman cannabis brand, Old Pal, Dr. Dabber, King Palm, Vibes Papers, Smokus Focus, Vitality Farms, Marleys Natural, Higher Standards, Fenders Blue Hemp, Official Dab Tray, Phoenician Grinders, and High Class Glass Gallery to offer real-world discounts to NFT owners. Being part of this club also gives users the ability to breed and sell cannabis plant NFTs on secondary markets, compete in Crypto Cannabis Cup competitions for both digital and physical prizes, and even going to work virtually in a greenhouse and earning passive income.
“We are going to be dropping the very first NFT-powered cannabis brand,” said CCC co-founder Jimmy Fitzpatrick. “That’s massive for the NFT space as a whole and a game-changer for the types of utility we are able to offer our holders.”
The Camp Nova product will be hand-selected, indoor-grown cannabis to start, but Crypto Cannabis Club plans to offer sun-grown cannabis in the future, as well as partnering with distributors in other markets beyond California. CCC plans to have further collaborations with Camp Nova in the future, introducing new ways to incorporate NFTs into its IRL cannabis products.
“From our initial conversations with the team, Camp Nova has exceeded our every expectation and has been terrific to work with,” Hunter said. “As a minority-owned and operated business, we believe that joining with them also reflects the values that are important to our community as we work to expand the diversity of our community and all metaverse inhabitants.”
Hunter also sees this as the first step for Crypto Cannabis Club to establish itself as ambassadors between the real-world cannabis community and the metaverse.
“This is just the beginning,” he said. “Our goal is for our metaverse properties to become a virtual connection point for cannabis aficionados and for our live events and products to be a contact point for the metaverse in the real world.”
If you love NFTs, cannabis and the metaverse, three rapidly emerging industries, Crypto Cannabis Club is positioning itself as the destination for the convergence of all those worlds, physically and virtually as well.