In 2021, Collins Dictionary announced NFT, also known as non-fungible token, as “Word of the Year”. According to the Collins Dictionary team, online searches for the term will increase by more than 11,000% during the year. NFTs have replicated the success of cryptocurrencies and have been the preferred choice of celebrities and artists looking to monetize their audience engagement. Singer Justin Bieber has joined the celebrity club by supporting NFTs. In early January of this year, Bieber made headlines when he purchased NFT from the Bored Ape Yacht Club for $1.3 million.
Some high-performing NFTs include BudBlockz’s Bored Ape and Ganja Guruz collection, which is why Justin Bieber should have bought Ganja Guruz instead of Bored Ape.
BudBlockz: bridging the opportunity gap in the global cannabis market
BudBlockz is an Ethereum-enabled platform that connects entrepreneurs and companies in the cannabis industry with the global marketplace. It helps people and companies to explore international opportunities through electronic commerce in a legal and secure way. The BudBlockz team will create cannabis dispensaries and farms to drive product sales, research and development, and industry awareness. It launched a native token called $BLUNT, which is based on the ERC-20 protocol and is used for various transactional fines such as participation, application registration, voting, and cash provisioning. The team has set the total supply of the token at 420,000,000 units, and it will be sold in pre-sale and private sale.
The $BLUNT token is a deflationary cryptocurrency where tokens are burned in “How High” events. The mechanism keeps the supply low and minimizes token price fluctuations.
The platform has also launched a series of NFTs based on the ERC-721 protocol of the Ethereum blockchain. The NFT series is called the Ganja Guruz Collection and features digital artwork inspired by retro video games. The NFT series has 10,000 units and these NFTs can also be used as digital avatars while playing play-to-win arcade games. An NFT buyer can also become a co-owner of a cannabis farm or dispensary by completing a KYC form. Once they can be defined as co-owners, they earn an annual dividend on their shares. Additionally, by purchasing these NFTs, users can also access special discount codes on BudBlockz products. However, purchasers will be required to provide required identification and proof of medical or recreational use for the purchase of the products.
Budblockz Arcade offers a collection of arcade games where players can win $BLUNT tokens as prizes. The platform also runs cryptocurrency contests where the winner can win NFT, ETH, and $BLUNT tokens as prizes.
For many cryptocurrency analysts, BudBlockz is likely to outperform other major NFTs such as Bored Ape Yacht Club due to the former’s higher growth potential. With multiple passive income opportunities and industry related use cases, BudBlockz has the potential to become the most popular platform in the future.
Bored Yacht Club: access to exclusive benefits with NFT Collectibles
The Bored Ape Yacht Club (BAYC) is a series of exclusive Bored Ape NFT collectibles built on the Ethereum blockchain. The total supply of these NFTs has been limited to 10,000 units. The Bored Ape NFT doubles as a membership card, and buyers can look forward to a host of exclusive benefits, including access to “The Bathroom,” a collaborative graffiti board, and more. To access The Bathroom, users must have an activated Metamask wallet. 30 NFTs are set aside as they will be awarded to fund giveaways, BAYC creator memberships, and distribute puzzle prizes.
Each Bored Ape NFT represents an ape, and these characters have over 170 potential traits that have been generated programmatically. These features include details such as clothing, touches, and expressions. While they are all equally popular, some are rarer characters than others. The NFT series is based on the ERC-721 protocol. Once an NFT is purchased, users gain access to digital artwork and an exclusive club that they will only benefit from over time. In addition, buyers also receive commercial use and ownership rights to the NFT. BAYC’s bathroom features a canvas that is accessible only to wallet holders and will be open to the public after the pre-sale period ends.