Few industries are considered quite as contemporary and disruptive as crypto and cannabis. The former is changing the way consumers see and interact with money, and the latter is expanding the collective viewpoint on what is beneficial to health and what should be socially acceptable. With legislation passed on a constant basis on both industries and growing global support, it becomes interesting that collaboration between the two industries isn’t more common.
This is what Cannumo, a platform that allows for easy investing in the cannabis business, is hoping to do.
Many Bridges to Cross
With societal views on cannabis shifting, more regulators are slowly opting for laws that legalize and benefit the industry. Investors, both retail and institutional, are also getting in on the action, from those who grow their own plants locally to those starting corporations that offer cannabis for sale.
But it isn’t all smooth sailing. Not every state in the United States nor every country has legalized cannabis, and not every investor has the means to relocate for that reason alone. The problem is that once some places finally catch up in terms of regulation, potential profits would have been lost.
This is the issue that Cannumo is trying to address, and it is doing so through the use of blockchain. The technology is the creation of distributed ledgers of information and is the basis of cryptocurrencies like bitcoin. Cannumo is now leveraging blockchain to allow people from anywhere in the world to invest in the cannabis industry.
First, there is the opportunity to invest in cannabis startups. Not everyone wants to go out and start a business of their own but might want to invest in one. Cannumo provides this opportunity.
For those who do want to launch their own cannabis business, this can be done across the Cannumo ecosystem as well. The platform works in that it connects those who need investments with those who want to invest. In terms of accepting payments, Cannumo allows for inclusive payment solutions with lower fees for users.
Cannumo itself is opening up to investment from the public as its Token Generation Event will be available for both public and private funding rounds before being released to major crypto exchanges for purchase.
The 420 Event
Around the world, 420 is known as the universal symbol of cannabis. It is believed to have originated from some high school students from San Rafael, California, who gathered at 4:20 pm each weekday to smoke cannabis. Every year on the 20th of April, cannabis lovers worldwide celebrate 420 as the unofficial Christmas of Cannabis.
Cannumo will be marking the event this year with a giveaway contest. The prizes up for grabs include digital art, a PS5, and cryptocurrency. Interested parties need to register for the giveaway on the company website, and three winners will be picked by the end.
The first-place winner will receive two unique Cannumo NFT artworks that are minted on the Ethereum blockchain and are created by notable artists. The second-place winner will receive a mystery Cannumo Care Package and a Playstation 5, while the third-place winners will receive 10 x 420 CANU tokens credited to their wallets.
The Crypto-Cannabis Connection
Both the crypto and cannabis industries are fighting to get better regulations put in place to accommodate their growth, and Cannumo attempts to get both of those goals achieved.
Those who are already familiar with cryptocurrency would likely have no trouble adapting to the Cannumo ecosystem, and should this venture be successful, it could mark the start of a meeting point of industries.