EEight years ago, PotCoin (POT) joined several other cannabis-focused cryptocurrencies to help shore up the fledgling industry’s difficulty in processing financial transactions. His strategy won PotCoin international recognition, but his ambitious approach was too much, too soon for a market that was just beginning to find its feet. Today, BudBlockz (BLUNT) is leading a new generation of tokens looking to directly support the cannabis industry. How is it different from PotCoin? And did he learn from the difficulties encountered by his predecessor?
The answers may lie in how each piece has sought to approach the cannabis market as it has evolved. PotCoin took direct aim at the limitations placed on the retail marijuana industry in Colorado, which was one of the few states at the time to legalize the retail sale of recreational cannabis. Specifically, marijuana retailers have been unable to use the banking services that retail businesses depend on. In 2015, PotCoin installed its first crypto ATM in a dispensary in Colorado.
In retrospect, what seems like a bold and shrewd decision was untenable at the time. Cryptocurrency had not yet been widely adopted, and the presence of ATMs did not generate enough interest to drive consumers away from fiat currency. Retailers continued to work cash, and PotCoin’s initial momentum quickly waned.
BudBlockz plans to take a slower, broader, and more deliberate approach to supporting cannabis production and retail. Building on the ideas that came before it, BudBlockz incorporated community building into every step of its roadmap. Above all, this community extends beyond the BudBlockz platform. Using asset-backed NFTs, BLUNT holders will be able to purchase fractional ownership of participating farms, production facilities and suppliers, making direct and meaningful contributions to the entire cannabis supply chain.
The BudBlockz app will connect the international cannabis industry, keep the community informed of legislative and regulatory updates, and facilitate the use of BLUNT in dispensaries, cafes, and members-only clubs. An ERC-20 token built on the Ethereum network, BLUNT is positioning itself as an important medium of exchange for the cannabis community and beyond.
BLUNT’s upcoming presale also underscores that community-building spirit. At an initial price of $0.0042, the barrier to entry for the token is extremely low and could remain so for some time, even as early buyers see their investments increase. Less than 33% of BLUNT’s total supply will be available during the presale, after which the coin will officially launch on Uniswap. At this point, owners will be able to transfer their holdings to any ERC-20 compatible wallet.
It’s a more patient approach than the first wave of cannabis-related cryptocurrencies pursued, but BudBlockz is betting that a maturing marijuana industry will support a mature and careful business plan. At this early stage, everything indicates that his approach supports great things for BudBlockz, now and in the years to come.
Learn more about BudBlockz (BLUNT)
Official site: https://budblockz.io
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz links: https://linktr.ee/budblockz
To buy your $BLUNT chips
Step 1: Visit the official BudBlockz website https://budblockz.io
Step 2: Click on the “register” button at the top of the page
Step 3: Create a Budblockz account. Make sure to use a valid email address.
Step 4: From your customer dashboard, click on the “buy $BLUNT” button
Step 5: Set the amount you want to buy and the currency you want to order in
Step 6: Make payment to the provided wallet address
Step 7: Receive your tokens!