- The collection is built as ERC-721 standard on the Ethereum blockchain.
- 10,000 of these NFTs will be built.
- Each will have a floor price of 0.098 Ether.
Ganja Guruz tokens are essential to become verified members of the budblockz community. These 1990s video game inspired NFTs are available on Opensea, which is one of the largest NFT marketplaces in the world.
Most of the tokens pay homage to cannabis. “Ganja” is likely a Hindi or Urdu word and it means Cannabis. “Guruz” or Gurus means teachers in Hindi.
A token from this collection is necessary in order to become a BudBlockz community member. The NFTs will allow holders access to members only spaces and can also be used as tokens in play to earn or P2E games.
The NFT collection has a long way to go in the NFT marketplace. Here’s a quick run down of its performance as per data from NFTGo.
The collection: Ganja Gurz #10 is the most expensive token to be sold yet, shows OpenSea data. It was sold for just over 22 Ether to TTToker on November 23, last year. Ganja Guruz #290 was sold for 20.74 Ether on November 18. Ganja Guruz #1 and #417 were each sold for 12.5 Ether.
A BudBlockz NFT’s intrinsic value expresses fractional ownership of farms, dispensaries and products. Fractional ownership is the innovative method that BudBlock is using to help the industry grow with the help of enthusiasts. Fractional ownership will bring the owner dividends from the growth of the products and stores.
At the time of writing, market capitalization stands at 238 Ether with 216 holders as per NFTGo data. In the last 24 hours, 10 were sold.
According to Data from NFT market aggregator NFTGo, there are just over 4 million holders in the world today. The market capitalization for this industry stands at around 10.26 million Ether which is approximately $17 billion at the time of writing. Trading volume fell by nearly 30% (~$84 million) in the last 24 hours.
BudBlockz is the first online ecommerce for cannabis
BudBlockz is setting up dispensaries in countries and states where it’s the drug is legal. It is also supporting new businesses entering the industry. People can purchase products using the BLUNT token which is listed on Uniswap. Owners of Ganja Guruz NFTs will be able to buy BudBlockz products in any of its partner stores in the world. The holders will also be eligible for discounts on products.
The cannabis industry is growing slowly. Nearly 30 countries have laws in place governing the sale of cannabis for recreational and medicinal purposes. Given that crypto adoption is growing and weed regulations are being either formulated or relaxed in several places, there is huge potential for BudBlockz to grow.
