This story originally appeared on Benzinga
Several cannabis organizations are working together to launch a new cryptocurrency project that mixes cannabis, NFTs and cannabis reform.
The Cannasaur NFT Project will launch on Nov. 30 with a limited edition sale of 4,420 non-fungible tokens (NFT) “Cannasaurs.” These cannabis-friendly pieces of digital dinosaur artwork will be used as a fundraiser to support the Last Prisoner Project and The Redemption Foundation.
How it works
“The concept of the metaverse, or virtual worlds, is really in its infancy. This is one of the first projects where NFTs can change someone’s entire life that has been negatively impacted via cannabis laws,” said Derek Norman, project organizer and principal at Michigan-based Humblebee Processing. “Our goal is to raise at least $25,000 for each non-profit from the initial launch of the Cannasaurs, plus royalties from any resales that occur over the next three years.”
While digital images can be copied freely, an NFT is a digital asset that carries a unique code, which is used to verify ownership of the item. At the time of publication, 0.05 Ether Cannasaur NFT holders will receive bi-yearly updates from the Last Prisoner Project and The Redemption Foundation about their work supporting the release of non-violent cannabis offenders.
Supporters wishing to purchase a Cannasaur will be able to mint the digital artwork on the Cannasaur420.com website starting on November 30th and can pay using the MetaMask digital wallet.