NFT packs to mirror Thailand’s thriving cannabis scene.
By Aiden Jewelle Gonzales
The last few years has seen the exponential rise of blockchain technology, with non-fungible tokens (NFTs) quickly entering mainstream consciousness over the last year. Global giants such as Nike have taken advantage of their worldwide rise in popularity by offering NFTs of virtual shoes in the Metaverse, and Thailand’s companies aren’t far behind. Boutique Corporation PCL, led by Thai-Indian Group CEO and President Prab Thakral, is also venturing into the space via the cannabis arm of the company, Bespoke Life Science Limited (Bespoke). Bespoke, together with its partner Rajamangala University of Technology Lanna Nan (RMUTL), has recently received approval from Thailand’s FDA to produce and cultivate cannabis in Thailand for traditional Thai medicinal purposes, one of the few companies in the country that has received this distinction, despite the plant’s official de-criminalisation in December 2020. Both Bespoke and RMUTL were also given the approval to import 41 different seed strains of cannabis to cultivate for Research and Development (R&D) purposes, which will make it the highest number of foreign, high-grade cannabis strains in Thailand.
Bespoke has announced plans to launch CannaThai420, which will develop packs of NFTs on the Ethereum blockchain that will mirror the life cycle of Thailand’s legal cannabis scene, from its cultivation to its growth cycle, harvest, and sale. The first pack released, which will begin selling on the 28th of January 2022 for an initial floor price of 0.42 ETH, will be called Seed Plant and will contain 120 unique NFTs, only 99 of which will be for sale. The rest will remain in CannaThai420’s treasury. Each of the NFTs will, true to its name, correspond to one of 99 cannabis seed plants that have already been planted in Bespoke’s state-of-the-art nursery at RMUTL, and owners of the NFT can watch each step of their plant’s growth cycle in the meta-verse, while the real-life plant it corresponds to goes through the same process. Holders of the NFTs will also have special privileges in Bespoke’s cannabis clinics and wellness centres throughout the country.
“CannaThai420 highlights the business agility of Boutique Corporation PCL as we demonstrate the innovative and entrepreneurial mindset of our company by pivoting our business during the COVID pandemic,” Mr. Prab Thakral said, in an exclusive interview with Masala. “Morever, with Bespoke’s unique position in the cannabis industry in Thailand, we aim to funnel this into unrivalled value for our CannaThai4200 community members. I envision the integration of blockchain technology across all our business segments in the future as well namely – our real estate portfolio, our private equity like business and within our headquarter operations.”
Niran Khanijou, Lead Consultant at Bespoke also weighed in: “CannaThai420 is a project that combines two exciting industries that are ripe and ready for innovation: NFTs and cannabis. Both industries are at its infancy, particularly in Thailand, and with any beginning comes massive potential, room for growth, and thus, value. Bespoke realises the potential and aims to harness them into treasured collectibles through the CannaThai420 ecosystem. Imagine a true utility token of the cannabis movement in the future, which allows people to easily, fairly, and legally transact within the cannabis space, both virtually and traditionally.”
The NFTs will be available for sale on www.CannaThai420.com and will be immediately tradable on secondary NFT marketplaces, such as OpenSea. The sale will begin on the 28th of January 2022 at 1pm GMT + 7 (Thailand local time).
Boutique PCL: BC