Cannabis Enters the Metaverse to “Educate” Consumers
Cannabis companies are venturing into these virtual worlds to explore marketing opportunities they don’t currently have on other platforms.
The only problem for now is that the low traffic that exists limits the sales of the stores that have acquired land and set up their businesses.
The bet of the firms is in the medium term when they hope that there will be enough users in the metaverse to acquire marijuana products.
Cannabis processing and marketing companies are beginning to test the effectiveness of the metaverse to promote their products and educate consumers about the use of weed in its different presentations.
Like other companies from different economic sectors such as JPMorgan Chase (NYSE:JPM) & Co., Miller Lite, Estée Lauder or Wendy’s, companies dedicated to the marijuana trade plan to create virtual stores for the promotion and sale of real-world products and even market non-fungible tokens.
Cannabis sellers have seen in the metaverse an opportunity to market their products more freely than on other platforms like Facebook (NASDAQ:FB), Cannabis Marketing Association executive director Lisa Buffo told The Wall Street Journal.
“It’s a wide open space in Web3…”
That is if the virtual platforms can continue to operate under a totally flexible and decentralized framework as they have been up to now. “It’s a wide open space in Web3… regulators haven’t wrapped their head around it yet,” Buffo said. Several companies have been operating in the metaverse since last year. This is the case of Higher Life CBD Dispensary LLC, which operates in partnership with Saucey Farms & Extracts LLC and is hosted on the Cryptovoxels virtual platform.
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