Cannabis DAOs

I wrote recently about cannabis NFTs (see here) and tokenization of cannabis assets (see here). This post covers cannabis DAOs (Decentralized Autonomous Organizations) within the industry space (“DAO” is pronounced like “dow”).

Web3: cannabis DAOs, cryptocurrencies, NFTs, and smart contracts

If you have been paying attention, you know at least something about Bitcoin, which is the flagship cryptocurrency in use today. You have probably heard of “blockchain technology” that underpins this new wave of technology. This new ecosystem of technology is called “Web3,” and it encompasses cryptocurrencies like Bitcoin, Ethereum, and the hundreds of others currently vying for viability. All of these currencies are part of the decentralized finance (“defi”) movement.

Web3 also encompasses NFTs (non-fungible tokens), which you could also think of as unique digital-only assets that are created, bought, sold, and collected all over the world. Recently I spoke with an entrepreneur who has hired a web3 artist to render (or “mint”) 100 unique three-dimensional pieces of artwork of marijuana (these details have been changed to protect his confidentiality). He is using these first 100 NFTs to test the marketplace. If the response is good, he will mint and drop (sell) a total of 1,000 unique NFTs. He

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