Eight years ago, PotCoin (POT) joined several other cannabis-oriented cryptocurrencies to help shore up the nascent industry’s difficulty in processing financial transactions. Its strategy earned PotCoin international recognition, but its ambitious approach was too much, too soon for a market that was just starting to find its feet. Today, BudBlockz (BLUNT) leads a new generation of tokens seeking to directly support the cannabis industry. How does it differ from PotCoin? And has it learned from the difficulties faced by its predecessor?
The answers may lie in the ways each coin sought to address the cannabis market as it evolved. PotCoin took direct aim at the limitations imposed on the marijuana retail industry in Colorado, which was among the few states at the time to have legalized the retail sale of recreational cannabis. Specifically, marijuana retailers were unable to use the banking services on which retail businesses depend. By 2015, PotCoin installed its first crypto ATM in a Colorado dispensary.
What seems like a bold and insightful move in retrospect was untenable at the time. Cryptocurrency had not yet been widely adopted, and the presence of ATMs did not spur sufficient interest to turn consumers away from fiat currency. Retailers continued to work on a cash basis, and PotCoin’s initial momentum soon faded.
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 has built community development into every stage of its roadmap. Crucially, that community extends beyond the BudBlockz platform. Using asset-backed NFTs, BLUNT holders will be able to buy 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, keeping the community informed of updates to legislation and regulations and facilitating the use of BLUNT at dispensaries, cafes, and members-only clubs. An ERC-20 token built on the Ethereum network, BLUNT posits itself as an important medium of exchange for the cannabis community and beyond.
BLUNT’s forthcoming presale underscores this spirit of community building as well. At an initial price of $0.0042, the token’s barrier to entry is vanishingly low, and could remain so for some time, even while early buyers see their investments grow. Less than 33% of BLUNT’s total supply will be made available during the presale, after which the coin will officially launch on Uniswap. At that point, owners will be able to move 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, prudent business plan. At this early stage, all indications are that its approach supports big things for BudBlockz, now and in the years to come.
Learn more about BudBlockz (BLUNT)
Official Website: https://budblockz.io
Telegram Group: https://t.me/BudBlockz
Discord Server: https://discord.gg/s7hBFgvTmN
All BudBlockz Links: https://linktr.ee/budblockz
To purchase your $BLUNT tokens
Step 1: Visit the official BudBlockz website https://budblockz.io
Step 2: Click the “sign up” button at the top of the page
Step 3: Create a Budblockz account. Ensure you use a valid email address.
Step 4: From your client dashboard, click the “buy $BLUNT” button
Step 5: set the amount you want to purchase and the currency you want to order in
Step 6: Make the payment to the provided wallet address
Step 7: Receive your tokens!
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