Virtual trees: Cannabis presence in the online metaverse

BY SEAN SEURATTAN

A few short years ago, thinking that cannabis would become a legal and booming industry seemed like sheer fantasy but here we are. So, thinking that cannabis can be a regular resident of the virtual space known as the metaverse does not have to be science fiction.

The cannabis industry being born near the pinnacle of the technological revolution has ensured that an online presence is part of its DNA. Currently to most this is simply constituted by having a website and some social media accounts. However this is only the smallest fraction of what is possible. Here we will discuss some important components of the Metaverse, and how these could be applied to the cannabis community.

The biggest thing to understand about WEB3 (the metaverse’s proper name) is that it is a place where things can exist indefinitely in a virtual form.  In some cases, these are things that exist purely virtually, or in other cases they are virtual representations of real-world things. The simple fact that there is an online space that entire communities can exist in is an incredible leap forward, but is also familiar territory for the cannabis enthusiasts. Being able to virtually share information, ask questions and engage with others in real time are time-honoured traditions practiced by the cannabis community. . This has led to the creation of online marketplaces and forums about cannabis, which are pushing towards the creation of apps and other resources. This makes the entire cannabis experience easier and more informed.

While NFTs have been a heavy tech buzzword surrounding the Metaverse for the last few years, they actually comprise a small aspect of it: ownership. A non-fungible token is used to designate a digital asset as undeniably official and impossible to recreate. The ridiculously superficial bubble market of selling juvenile cartoon animal images will give way to the true purpose for this technology.

NFTs can give real world value to digital items. This is beneficial to cannabis in a multitude of ways. Beyond using them just to create digital trading cards of cannabis imagery, they can be used to unite decentralized individuals towards a common goal. For instance, a company could offer NFTs as a way to crowdfund a new experimental strain and NFT holders would get free samples or early access to reward their initial purchase. Experience based NFTs gained by attending specific events are another way cannabis could find value in this technology. A person’s virtual avatar could easily display an NFT confirming their attendance to a special conference, convention or seminar validating them for specific tasks. For example, owning a special NFT could designate someone as certified to grow an exotic cannabis strain.

Crypto currency is a much more complicated concept for WEB3, but can ultimately be liberation for the entire cannabis market. In the most obscenely simple terms, crypto currency is digital money independent of any centralized banking construct. It is created online, stored online, and spent online without ever materializing in the physical world. Its strength is solely based on the amount of users willing to accept, and use it.

Cannabis still holds a negative stigma, and many banks that still refuse to accept funds from this previously illegal industry perpetuate this. Crypto is a way to bypass this and future gatekeeping. In essence, anyone with the knowledge could create a currency that could be used solely for cannabis. With enough confidence from the community, it would be safe, secure and infallible. It could also provide financial equity within this new industry while simultaneously keeping it free from the current stagnant group holding most of the world’s capital.

It is truly a wonder to witness a community originating from the most analog place ascend to unimaginable heights through the strength of technology. While it is always wise to be cautious in unfamiliar territory, the benefits possible far outweigh the fear of risks. Cannabis can use the metaverse as a way to cement itself into the foundation of the future.