We are living in an incredible time where cannabis isn’t taboo anymore, and almost anything can be an NFT (non-fungible token).
Both of these industries are booming, despite the critics and naysayers. Considering that the cannabis industry saw sales at $37.4 billion last year, and the global NFT market is almost worth as much as the fine arts industry, early investors are celebrating while critics are licking their wounds.
The best part of this is that huge brands are diving into the NFT market, whether it’s to engage their consumers, market a new product, or elevate their charities and they’re seeing a lot of success. From Nike’s CryptoKicks (worth over $200,000 for one shoe) to Formula 1’s cars and game (also worth six figures), this is a place that forward-thinking companies want to be.
Who better to jump into the NFT pool than the new generation of cannabis companies?
In this post, we’ll dive into the ins and outs of designing NFTs for cannabis brands and why you should absolutely launch a collection.
Design and the cannabis industry
We work with quite a few cannabis companies, and one thing that they all have in common is the desire to reinvent the way cannabis use is viewed. The transformation process from green leaves and psychedelic colors to collectible-worthy design that engages consumers is breaking stigmas.
To get more insights on this, we asked creative director Collins for some wisdom into his experience working with cannabis brands:
“A lot of my clients are definitely open to more artistic designs, but it really depends on the client. Overall, the industry is far more daring than most.”
Why drop an NFT collection?
Most cannabis companies want to be known for more than just the flowers. Hear us out for a second:
Branching out into limited-release retail, food, and beauty products, for example, not only opens the door to an entirely new consumer market but engages the base that they’ve already built.
They also know that their consumers will likely think out of the box and embrace trying new things. These are the people that love collectibles, love limited release anything, and are committed to the brands that they buy from.
If there’s anything that can be gauged from the modern cannabis consumer, it’s that they don’t just smoke. They enjoy the whole brand, they’ll buy a product because the packaging is awesome, they will try an infused butter just because it came from their favorite company, and will absolutely get excited if the brand took those creative liberties and embraced the crypto world in the form of NFTs.
This is exactly why cannabis companies need to hop on the NFT train.
How to design NFTs
You may be thinking that launching an NFT collection sounds like a great idea, except that you don’t know the first thing about designing NFTs--- and it sounds complicated.
Your first NFT launch doesn’t have to be difficult. Creating these fungible tokens is actually a lot easier than it sounds. The first thing you need to do is hire a good designer or design team that understands the NFT marketplace and has experience in the crypto art world.
To help you understand just how easy it can be to design a great NFT collection, we’ve brought in one of our own graphic designers and crypto artist, Nicolas Arango.
“It’s all about the layers,” he says, “That’s what an NFT is on the back end. You can design a great character for example, and make multiple layers for the background, eyes, additional features, and anything that you want to add or change. Write the code….etc. Digital assets like NFTs are mathematical equations. You can create an awesome NFT collection in literally 5 minutes with your character design, layers, and code.”
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All you really need to create a memorable NFT collection are:
* A great graphic designer/digital artist who understands the NFT marketplace, crypto art, and popular marketplaces.
* A high-level understanding of blockchain technology and the world of NFTs. You don’t need to be an expert, you just need to understand what it is.
* Design your collection with a purpose!
NFT design with a purpose
Fifteen years ago, who would have thought that digital creations could have so much impact? The rise of the NFT has given brands a powerful tool to wield, but the key to success for brands in the NFT world is to design with a purpose.
Some are literally gamifying digital artwork, encouraging their base to collect limited-release trading cards, for example. In exchange, the customer has access to exclusive offers like collectible products or experiences.
Other brands like <Coca-Cola> and <Taco Bell> use their NFT art to help raise money for charities. Nike has taken the NFT world by storm with their CryptoKicks, a great example of a brand turning digital assets into collector’s items.
See the trend here? Your customers may not currently own NFTs, and they won’t flock to Opensea or Rarible to buy yours just because you are a cool cannabis brand and you launched a collection. Give them a motive, however, and they’ll dive into the Ethereum blockchain to add your design to their cryptocurrency wallets in no time.
It’s worth it
If you’re a cannabis company that wants to stand out in a saturated market, try launching a collectible NFT collection. Give your customer base something to talk about, encourage them to engage with you, and make headlines.
Ready to get started on your NFT journey? Sign up for your two-week trial with Designity today!