On October 5, MJ Holdings Inc. MJNE, a publicly traded cannabis company, announced it will be presenting “the details of MJ Holdings’ groundbreaking Digital Asset Tokenization Project" during the Web3X Expo, at The Wynn in Las Vegas.
The company's new project seeks to position MJ Holdings as “the global leader in combining cannabis farming and a digital tokenization strategy,” per a company press release.
“We will combine MJ Holdings’ vast real estate portfolio, 260 acres of growable land at Amargosa Valley, the growing expertise of the MJ team, and the unique corporate structure of MJ to merge legalized recreational cannabis and digital assets or utility tokens,” said John Tabacco VP of Digital Asset Strategy. “For years companies have proposed pie-in-the-sky ideas about tokenizing Marijuana crops, but to date, a grand total of zero have successfully demonstrated the resources, capabilities, and cannabis know-how to bring together these two emerging growth areas. Crypto and Cannabis.”
Pilot: MJ’s Fractional Farming Token Affiliate Program
“We intend to change the game in Tokenizing Cannabis Grow assets and using Blockchain and Digital tokens to streamline our process from growing to sale. (...) There are still challenges faced by Marijuana growers around the country we believe this first pilot Token Program will be the first step in a massive paradigm shift in space,” said MJ's founder Paris Balaouras.
MJ Holdings director of operations, Al Reasonover, also weighed in.
“It had been four-year labor of love curating the Amargosa Farm and getting all the approvals, utilities, and critical infrastructure in place to grow best-in-breed cannabis flower, indoor and outdoor. Now we look forward to combining our state-of-the-art facility and growing expertise with this groundbreaking digital strategy. We look forward to telling the world where MJ is heading at the Web3 Expo next week.”
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