NFT represents Non Fungible Token. An NFT is an immutable unit of data that can neither be replaced nor changed. A digital asset with unique properties to represent ownership of internet and physical collectibles with an authentic certificate created by blockchain technology. NFTs are individual tokens with valuable information stored in them, the unique data makes it easy to verify and validate ownership.
BudBlockz will apply NFT technology into our infrastructure to digitize real-world products, provide data security for users and verify eligible members. Progressive blockchain developments will allow BudBlockz to perform on a global scale and open the cannabis trade globally.
Project Name - Ganja Guruz Collection
Ticker - Ganja Guruz
Total Supply - 10,000 Ganja Guruz minted.
Ganja Guruz NFTs are key to becoming a verified member, holding an NFT will grant entry to the fractional ownership market. The collection will be released on OpenSea for all to easily access and purchase. BudBlockz will release 10,000 Ganja Guruz on the Ethereum blockchain (ERC-721 Standard), compatible to be stored on ERC-20 compatible wallets. Users will need to hold an NFT within their personal wallet to access the KYC application for fractional ownership and any further benefits. Users without the NFT will not be able to access the KYC application nor fractional ownership market, BudBlockz NFTs are utilized to identify community members who are eligible for benefits and fractional ownership within the ecosystem. This gives an opportunity for a user to purchase a percentage of a farm or dispensary and earn dividends from growth.
Membership in all BudBlockz dispensaries worldwide
Receive discount codes on products available in store
Access to Fractional Ownership marketplace to own % of dispensaries and farms
Additional benefits throughout the roadmap
KYC or Know Your Customer is a process businesses use to verify identity, suitability, and any risks involved with the user participating. This is imperative due to the regulations and legality surrounding the cannabis industry, BudBlockz will cooperate with the regulatory bodies within which the jurisdiction. The Ganja Guruz NFT will serve as a permit to complete the KYC application and fully participate within our ecosystem, ensuring all participants are compliant with jurisdiction. Holders will have the option of completing KYC and accessing our fractional ownership marketplace. KYC will be mandatory to participate as particular jurisdictions do not permit such activity.
BudBlockz will open dispensaries and farms in compliant locations for our community to enjoy our products. Equal to opening our own, we’ll be working alongside upcoming businesses starting within the industry. Both will grant the opportunity for our community to purchase FO and earn a dividend from growth. BudBlockz holding company is responsible for managing the dispensary, farm, profits, and ownership, members will need to complete KYC in order to verify eligibility to participate.
Fractional ownership is the arrangement of multiple parties dividing ownership to mitigate the risk of a tangible asset. Typically investors participate in the arrangement for monetary purposes, however, many become involved for personal access. With the difficulty of opening a dispensary users will be interested in owning a percentage in order to benefit from the growing industry. A common difficulty faced by investors holding fractional assets is trading or selling, typically due to a lack of consumer interest in the product. The tangible asset will be represented by an NFT traded on our NFT marketplace with other registered users. This allows a simple process of transferring ownership during trading.
Within the last decade, cannabis dispensaries have proven to be consistently profitable, the average cannabis consumer spends $500 to $2,500 annually on cannabis products. San Francisco and New York deemed cannabis businesses essential during the stay-at-home advisories in March 2020. With the ongoing developments of legality in the cannabis trade, economists are preparing for cannabis to flourish identical to alcohol and tobacco.
BudBlockz will develop an NFT marketplace for community members to trade collectibles and fractional ownership NFTs, similar to Open Sea. Our NFT marketplace will be easily compatible and have incredible usability, user authorization, and scalability.
Our community can create, sell and promote their own cannabis NFT collection on the marketplace, NFTs created and sold on our marketplace will require $BLUNT. Encouraging our community to earn tokens from producing cannabis NFT artwork collections to be sold on our marketplace.
Fractional ownership investments will be presented on our NFT marketplace and not open exchanges, to access our NFT Fractional Ownership market users will need to hold Ganja Guruz NFT and complete KYC. Holders can trade their fractional ownership NFT to other authorized users. Unregistered users can still access the NFT market and purchase BudBlockz collectibles provided by the team or community.
Opening dispensaries and farms in cannabis-friendly locations to distribute products and provide accessibility to the cannabis markets. Partnering with existing cannabis corporations to expand our ecosystem and internal development, allowing BudBlockz to provide a variety of products to our users.
Purchasing products is conditional on the location's legality. Consumers will need to provide identification prior to purchasing, ensuring eligibility to use the product for recreational or medical purposes. Members holding a Ganja Guruz NFT will need to complete the KYC process to automatically have global access to our dispensaries, this will ensure access to the store is granted. Our registered community members will receive regular promotional codes for discounts on products purchased in-store.
Fractional ownership opportunities will be granted to our registered community members, users will need to provide KYC to participate for legal purposes. Our registered holdings company will be responsible for managing dispensaries and allocating ownership.
BudBlockz and onboarded dispensaries will permit the use of our native token to purchase their favorite products. Payment for products in-store can be completed using BLUNT token or cash, our customers paying using the token can access better pricing, bundle deals, and local delivery on products.
De-Fi or decentralized finance refers to peer-to-peer financial transactions without a middleman or third party. DeFi platforms allow users to lend or borrow funds from others, trade cryptocurrencies and earn rewards from participating in staking. BudBlockz will offer staking to allow our community to put their BLUNT to work without needing to trade them. BudSwap will be the official BudBlockz decentralized exchange facilitating peer-to-peer exchanges amongst our native token BLUNT and other ERC-20 standard assets. Our DEX will be integrated with BudBlockz wallet to provide a simplified route for our community to convert other assets to buy products.
In order to facilitate a payment in store BudBlockz will develop a mobile and web wallet to receive and make payments using BLUNT. The application will allow users to scan QR codes, connect to web3 applications and provide access to De-Fi products to be available on the App store and Google Play for our community to download and receive the tokens and make payments.
BudBlockz wallet is a decentralized application built on the Ethereum blockchain, our wallet software will allow users to interact with the balances for BLUNT token and other ERC-20 assets. Decentralized and noncustodial to ensure leading security when storing BLUNT tokens and NFTs. The user who initially creates it will be given the private keys for the wallet, the key is permanently erased from the database creating one true owner. Users will be encouraged to keep their private keys safe if they’re lost, support will not be able to recover them.