InterContinental Beverage Capital (IBC) has partnered with Cannaverse Technologies to become its branding advisor in Cannaland, a cannabis-focused metaverse that connects every facet of the cannabis and hemp communities, Benzinga has learned exclusively.
IBC has also acquired real estate in Cannaland and intends to open a virtual “House of Brands” where residents and visitors can discover the next great beverage or CPG brand for commercialization in the virtual or physical worlds.
Why It Matters
IBC joins a small group of businesses and brands that are entering the metaverse, where the convergence of the physical and virtual worlds come together to create a “mixed reality,” and the B2B community and consumers can immerse themselves in an imaginary Web3 virtual meta-marketplace.
The Cannaland platform will be powered by blockchain technologies and will allow instant purchases of real estate (land parcels), NFTs and other digital assets using Cannaland Tokens (CNLT), a cryptocurrency providing transactional utility within Cannaland. The project is scheduled to go live this year.
“The Cannaland experience will offer an innovative approach to community building, revenue generation, and product marketing, manufacturing, and merchandising for cannabis brands looking to distinguish themselves from the increasingly crowded physical marketplace,” said Mark Bonner, Cannaverse Technologies CEO. “Cannaland™ will interact with other adjacent worlds and platforms with a fully functioning economy where the world’s best brands, cultivators, extractors, and infusers will come together to create a B2B and B2C experience for cannabis enthusiasts that can only be found in the virtual reality of the Metaverse ala Cannaland™."
Stephen Horgan, co-founder and executive vice president of IBC added, “We envision corporate sponsorship interest from both companies within the cannabis industry as well as consumer product companies not currently involved but looking for an entry into the industry. In addition to individual properties and retail establishments, there are numerous ways a brand, or entity can step into Cannaland™; advertisements on billboards, purchasing the naming rights for Metaverse subsections along with street names, virtual land, utility and transport naming rights, host pop up events, large-scale entertainment events, arena and stadium naming rights, and official sponsorships of high-profile commercial sectors as well as a play-to-earn gaming feature.”
Earlier this week, Cannaverse announced the appointment of Matthew Morgan as its cannabis industry advisor for the Cannaland project. Matthew's deep knowledge and track record of success in the cannabis industry will provide guidance to ensure the company's short and long-term success.