Provacan, the UK’s leading CBD oil brand and flagship of CiiTECH Ltd, has announced the release of NFTs and a metaverse platform to communicate with consumers and investors.
The company claimed that its Web3 experience provides a real opportunity for holders of non-fungible tokens to become part of the company and receive CBD for free.
Although Provacan already accepts cryptocurrency payments in Gemini Dollars (GUSD), Tether (TUSD) and USD Coin (USDC), management said that CBD industry lags behind in the Web3 space while other companies build virtual storefronts to promote their brands in the metaverse.
In the world of digital brands, it’s no longer just tech giants like Facebook and Apple; Big Hollywood players like Disney and blockbuster developers like Epic Games, as well as well-known clothing brands like Gucci and Nike have followed suit.
Provacan is one of the first cannabis brands to jump on the web3 bandwagon
Based on CEO and founder of CiiTECH Clifton Flack, Provacan’s web3 world, makes it one of the first global cannabis brands to launch a utility-driven virtual experience.
“Embracing customers throughout the product lifecycle is key to a brand’s survival and future success,” Flack said.
“As part of our customer family, we recognize the impact customers have on our products, so we expect that impact to continue to grow through NFTs.”
What are NFTs?
Non-fungible tokens (NFTs) are the next generation of blockchain-based assets that are gaining increasing attention in the crypto space. These tokens are unique in that they can be used as fungible or non-fungible tokens depending on the intended use case. This makes them more versatile than most other ERC721 tokens, which are generally only used as fungible tokens.
In addition to ownership of digital images, songs, or avatars, NFTs may also represent access to goods, tickets, or physical assets such as CBD oil, gummies, and capsules.
A futuristic membership club
Connection Provacan web3 or becoming an NFT owner will get you in the mood for your future membership club.
- Play interactive games for customer benefits and offers
- Receive free gifts and pre-launch samples of new products
- Have a say in future decisions
- Earn loyalty points
- Birthday gifts
Furthermore, Provacan aims to deliver exclusive news and information, including educational resources on how to get the most out of the cannabis health products you can choose from.