Non-fungible tokens, or NFTs, have taken over the mainstream seemingly overnight. Adidas just released its own collection, Shopify can host NFTs and every celebrity seems to be “aping” into the Bored Ape Yacht Club. But they aren’t the only ones with an eye on the latest technology.
Cannabis has played a role in many of the new releases, as artists are more public than ever about their cannabis consumption. Weed and art have been a formidable duo for ages — this is the next natural evolution of the relationship.
What are weed NFTs — and how can you get one?
Ever since the explosion of projects in the last few years, there’s been a slew of cannabis-focused NFT collections. And it’s no surprise why. First off, weed art is sick! Secondly, and on a more serious note, it allows for community building, greater reach and crowdfunding that allows entrepreneurs to avoid censorship and banking woes.
Huge names from the industry like Snoop Dogg and Cheech & Chong have become vocal proponents of the space. These NFT projects are fostering massive communities and creating unique utility, and some collections are already operating in the metaverse for real-world deliveries.
But before we dive too deep: what the f*ck is an NFT?
Who wants one? 👀 #DigiWeed #GetHighWithUs pic.twitter.com/mOdqnmUmy8— DigiWeed (@DigiWeedNFT) December 23, 2021
What’s an NFT?
NFTs are a big deal, and not just because of the fun .jpgs and social signaling.
From Ethereum's official website, an NFT is defined as, "tokens that we can use to represent ownership of unique items." One can tokenize music, art, painting, real estate, articles, movies - anything can become a digital asset. The blockchain record can't be modified, thus proving official ownership over your asset.
Non-fungible tokens are minted and can be built on Ethereum, Polygon, Solana and other smart contract token networks. This gives the ability to have continued and proven ownership over a piece of work once minted on the blockchain. When a NFT is listed on a marketplace like OpenSea, Rarible, Foundation and others, the original owner can receive royalties from their NFT. This allows people in the space more autonomy and ownership over their IP.
Now, what does cannabis have to do with any of this? Historically, it’s been difficult in the cannabis world to advertise, operate, find community and raise money, among other hurdles. We’re still living in a world of federal prohibition. There are few banking options, and social media content and accounts are often deleted. When they're not, reach on most mainstream platforms such as Instagram and TikTok is limited and censored.
NFTs aren’t the cure, but they could be a resolution — for now.
When people buy an NFT, especially from a large collection, they have the ability to join a community of like-minded owners - or members. And these communities aren’t small. There are thousands of people, and sometimes tens or hundreds of thousands, that support these projects through their NFT purchases. As these communities grow, some have begun to operate as Decentralized Autonomous Organizations, or DAOs, where members have voting rights, or governance and other controls that give holders more “ownership” in the project.
Communication primarily takes place on forums, Telegram, Discord and Twitter. These places have largely been friendly to both crypto and cannabis enthusiasts, creating safe(r) spaces for people to be able to speak freely about cannabis and overcome censorship.
Banking issues? They could be a thing of the past — even without federal cannabis legalization. Funds can be raised through NFT sales, and almost always go back into the project to progress their roadmap forward. Think of it as the crowdfunding of the future.
The use cases are endless - tracking genetics, seed-to-sale, community-owned brands. Your imagination is the only limit.
Now that you have some better understanding of the world of NFTs, here are some of the loudest weed NFT projects that could propel the space forward.
Crypto Cannabis Club
The Crypto Cannabis Club is a fast-growing project from the minds of Kevin and Jimmy Fitzpatrick. Recently, they brought on a new CEO, Ryan Hunter who comes from Willie Nelson’s company Willie’s Reserve. Their collection stems from the Fitzpatrick brothers’ love for growing and community.
Jimmy Fitzpatrick says, “CCC is a club for like minded individuals who all share a love for either cannabis, crypto or both. Our goal is to provide our NFT owners with the most exclusive experiences in the metaverse and the real world.”
And they are quickly delivering on their promises. The Club has 10,000 NFTokers which are generative 3-D pieces of art. Generative art is created through code and instructs the program to create different variations of art from multiple layers of traits. If you’re familiar with Photoshop, think of multiple folders of layers with different hair, accessories, clothes and more that can be mixed and matched. These are then generated, minted on the blockchain and re-listed for secondary sales.
Each piece of NFToker stoner-inspired art is built on Ethereum. Each NFT has traits and rarity that add to the value of each Toker. Members can enjoy exclusive invites to events and discounts on brands they’re partnered with. In January, they announced their own cannabis brand launching on the California market which will give Tokers the ability to get quality cannabis at incredible prices. Their goal is to create accessible and affordable products for members.
While the collection currently reads “sold out” on the site, you can find pieces on OpenSea, a popular NFT marketplace. There are currently just over 4,500 unique holders, and the current floor price is .18 ETH. With the reach of their Discord and social channels, there are tens of thousands of people in their community.
Fitzpatrick is excited for the future of CCC, he says: “Next for CCC is to continue to bring utility to our holders and add value to our project. We've got a play to earn game in the works where you will be able to enter digital plants into Crypto Cannabis Cup Competitions as well as breeding in an effort to create the best cannabis plant on the blockchain.”
In just the last month, they launched an actual physical cannabis flower on the California market in partnership with CampNova. NFToker holders could get exclusive discounts and each purchase came with a special edition NFT.
Secret Sesh NFTs
Secret Sesh is an OG community in the space that has hosted some of the craziest stoner events over the last decade. It’s for people who love weed and finding the absolute best of the best products out there.
Their CEO Tim Brown describes Secret Sesh NFTs as, “The perfect combination of a decades of event hosting in the cannabis space brought into the metaverse to provide access to exclusive partnerships, VIP access, P2E, and more, bringing the Secret Sesh experience to NFT and Crypto community.”
With an already established community, this move from the legacy brand seems like a no-brainer. Brown’s co-creator VP Anthony Centeio and he envision an all-encompassing experience for members with lots of utility. “Owners will have access to discounts and free merchandise from over a dozen vendors in the cannabis space including Moxie, Green Wolf, The Dopest and more,” says Brown. But freebies are just the start.
Brown lets us in on more of their roadmap: “Secret Sesh will be building out a full city within the metaverse in which Seshers can import their NFTs as 3D models to interact with one another in the metaverse lounge, as well as participate in a fully built of play to earn game, rewarding NFT holders for playing that can be redeemed for additional future merchandise, products and more.”
Like many other NFT communities, much of their communication takes place on Discord. While this collection hasn’t launched just yet, they have an already established audience that is eagerly waiting for the drop on their Secret Sesh website. This is timed perfectly with IRL events fostered through URL. After having so many successful events, there are tens of thousands of followers across their various social platforms.
Of the few we mentioned, there are constantly new collections launching. Check out more below if you’re interested in journeying into the wonderful world of weed NFTs.
- Stoned Apez
- Nug Headz
- Stoned Ape Crew
- 420 x Friends
- Blazed Cats
- Higher Life CBD
- NFT Bongs from Jerome Baker
How to Vet an NFT Project: Tips to Walk Away With
While there are tons of exciting projects launching, it’s important to vet any NFT you may want to buy. We are in a huge bubble right now. When will it pop? Nobody knows. It’s important to know your goals when entering the world of NFTs, because it’s an incredibly volatile space. Art originally worth thousands can dip down to almost nothing overnight depending on the market. Ask the following questions:
- Is the team public? Trustworthy? Have they had success? Are they committed?
- Do you have genuine interest in the project?
- Does the project have utility?
- Is there a roadmap?
- Are their socials and community legitimate, or botted?
These are just some questions to ask yourselves before putting down any real money.
If you’re thinking about flipping NFTs, this especially takes a lot of time and focus. If you can’t constantly be at your computer watching the market and be available for early releases and drops, you may want to start slow. Find art you genuinely love, sit on it and see if it grows. In new markets, there will always be good and bad actors.
My biggest pieces of advice:
- Research, research, research
- Find a group of people to learn with
- Never take out loans for crypto
- Don’t use money you can’t stand to lose
- Buy the rumor, sell the news
- Always verify sources
Weed NFTs - Future or Fad?
As long as there are restrictions and problems to be solved in cannabis, especially around building community, social media reach and raising funds, NFTs could be an ideal next step for cannabis entrepreneurs. But not without risk.
Our world is moving faster than ever. Trends are here today and gone tomorrow. Topics that dominate the news cycle are forgotten once the next new thing hits. While crypto and the evolution of NFTs has been extraordinary, this technology is still nascent and has a long way to go until mainstream adoption and consumer protections. Early NFT collections and artists like Punks or the infamous artist Beeple have stood the test of time and become multi-million dollar mainstays in people’s collections. Others have crashed and burned.
I don’t see this trend going anywhere anytime soon. NFTs serve various audiences and niches. Crypto is becoming more accessible with bigger names backing projects that foster trust. As more people become crypto literate, people will be eager to join the crypto club. Get ready to smoke up in the metaverse.