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“Just a single month in 2021, over 1.5 million NFT art sales were recorded.”
Despite the current bear market that has hit both stocks and cryptocurrencies hard, NFTs are still a hot topic. In 2021, the market for non-fungible tokens was valued at USD 15.54 billion and is expected to grow at a compound annual growth rate (CAGR) of 33.9% from 2022 to 2030. Most cryptocurrency advocates but also analysts and VC companies expect it to start taking off again as soon as the next bull run starts and even reach new heights.
Another exploding sector that is still emerging and is showing great growth potential is CBD. The market was valued at USD 4.9 Billion in 2021 and is projected to attain a value of USD 47.22 Billion by 2028 at a CAGR of 21.3% by 2028. Cannabidiol products are enjoying an increased interest due to the favorable regulatory framework surrounding them in the US and Europe, the potential they have for human and animal health, as well as their approval for the treatment of various diseases such as epilepsy by the FDA (Federal Drug Administration, see specifically the drug EPIDIOLEX). With continuous research and new ways of cultivating CBD products, the market is bound to continue its rapid expansion in the foreseeable future.
Is there a synergy between NFTs, blockchain, and the CBD sector, all of which seem to be experiencing impressive growth that shows no signs of slowing down? What advantages can be derived from a potential interaction of these concepts? One project has already made its mission to find out and has achieved a lot over the last couple of years. Enter Qoomed.
The Qoomed ecosystem
Qoomed is the first ecosystem that integrates blockchain concepts within the CBD sector and unlocks a variety of additional possibilities for all involved stakeholders.
The ecosystem consists of three main pillars – the CBD marketplace for products, which directly connects buyers, sellers and businesses from the industry, the 420.work NFT platform that gives CBD artists vast exposure to NFT hunters and allows them to easily monetize their talent, as well as the QOOMED token, which is used for payments.
On the Qoomed marketplace, you can choose from a variety of high-quality CBD-based products from reputable companies. If you are a seller, you can get access to a variety of tools that will help you leverage the full potential of your inventory and maximize your revenues through various marketing and sales management tools.
The Qoomed marketplace is much more than just a shop for CBD products. The marketplace provides solutions for a variety of stakeholders – from farmers, producers, and resellers to even pharmaceutical companies and laboratories. Some of these solutions allow businesses to send and receive orders with e-commerce tools, track order status with easy-to-use dashboards, streamline communication with messaging features, have advanced analytical dashboards, CRM systems, and many other functionalities.
Qoomed has created the first ecosystem that enables dropshippers of CBD products to thrive by giving them the necessary tools that can allow them to start their business quickly and make it profitable as soon as possible. The project is the pioneer in bridging the gap between CBD and dropshipping, setting a trend that is in its infant stages of development.
The Qoomed marketplace considers itself as the largest network of compliant cannabis businesses that is just beginning to unfold its full potential.
The 420.Work NFT marketplace by the Qoomed project is the first NFT platform specialized in CBD and cannabis art. As such, the project team carefully curates the NFTs that are submitted to the platform and makes sure that they adhere to this standard to uphold its high standards for quality content.
The 420.Work NFT platform is already offering a variety of unique art pieces that cannot be found anywhere else. Just as on leading NFT marketplaces, artists can define the royalty percentage and set additional perks such as unlockable content that is only visible to the owner of the NFT. The QOOMED BSC token is the main driving force behind the marketplace and is used for payment of minting fees, as well as to purchase NFTs.
The 420.Work NFT marketplace makes NFT creation seamless for everyone, regardless of their prior experience (or lack thereof) with Non-fungible tokens. We tried creating our own and the process seemed even easier and faster than on traditional platforms like Opensea or Mintable.
What is more, since the NFTs are minted on the Binance Smart Chain blockchain, the fees are comparatively lower than all networks that are based on the Ethereum blockchain, making it overall more cost-efficient for artists and sellers.
The blockchain-based marketplace for CBD consumers and businesses, as well as the first NFT platform for the CBD industry, are already live. If you are interested in finding out what products the Qoomed marketplace is offering or how it can help you leverage the full potential of your CBD business, you can check it out here.
The 420.work NFT platform is also up, with multiple art pieces by talented NFT artists already listed for sale. Make sure you check it out here.
Disclaimer: This is a paid post and should not be treated as news/advice.
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With Masters in Mass communication and journalism, Anjali’s interests lie in blockchain technology adoption across emerging economies.
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Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
