XP.NETWORK and Employees of
the Metaverse: connecting NFTs
and the real world
XP.NETWORK and Employees of the Metaverse: connecting NFTs and the real world
PROJECT OVERVIEW
PROJECT OVERVIEW
In this case study, we take a popular cannabis-themed ecosystem go cross-chain on Harmony One, BNB Chain, and Ethereum with an NFT collection and many opportunities for the community - from marketplace discounts to merch drops.
nft.weedcommerce.info
EOTM and Weedcommerce: an NFT and crypto ecosystem for a real-world business
Merging NFTs and real-world business is a hot topic. Famous brands like Gucci and Adidas launch NFT collections tied to physical goods, and some even buy NFTs representing land in metaverses like The Sandbox to open virtual stores there.
At the same time, there are also many real-world companies that enter the NFT market without much media hype but with a clear roadmap. A good example is our partner Employees of the Metaverse – the NFT arm of the popular cannabis marketplace Weedcommerce.
As you probably know, recreational use of cannabis is completely legal in many states of the US, including California, Arizona, New Jersey, New York, etc. California is the hub for cannabis e-commerce, and that’s where Weedcommerce is based, though it sells products all across the US where it’s legal. It also sells CBD oil, pipes, accessories, etc.
Realizing the revolutionary nature of blockchain, Weedcommerce was among the first legal cannabis businesses to launch its own token, WCM. It runs on BNB Chain and Harmony One, and Weedcommerce plans to build a whole DeFi platform based on it, with staking and yield farming. Users can use WCM to pay for many products in the marketplace, too.
However, the part of the ecosystem that interests us most is the NFT collection, Employees of the Metaverse (EOTM). It consists of 10,000 colorful (and weed-smoking) characters who represent Weedcommerce in the metaverse. They can be minted at 0.04 ETH. Or, if you hold 3 NFTs from the genesis Weedcommerce collection, you are entitled to one free Employee mint (plus gas).
EOTM utility
The roadmap for EOTM features exclusive wearables and NFT drops for holders; purchases of virtual land on different metaverse platforms; and even a virtual cannabis dispensary in Decentraland.
The project has even been working on a mini-cartoon about the Employees' work at the metaverse version of Weedcommerce.
EOTM NFTs will also generate rewards $WCM tokens, which you can then spend in the marketplace. In addition, Employees have practical utility: holders get an instant 10% off their CBD and bong purchases when they connect with their crypto wallet (this is valid for EOTM on Ethereum).
Moreover, as EOTM holders get some digital wearables for free – but the project also sells those wearables for $MANA in Decentraland. Thus, EOTM holders can resell their wearables and earn a net profit.
As for NFT drops, we should mention Baby Interns and the fun Weedbirds, who work as cannabis delivery drivers in the metaverse. Having a full set of NFTs (a EOTM, a Baby Intern, and a Weed Bird, for example) will give you higher $WCM staking rewards and other benefits.
XP.NETWORK and EOTM: bridging between Harmony and BNB Chain
The main part of our collaboration with Employees of the Metaverse is opening a bridge connection for the collection between Harmony One and BNB Chain. Here we should remind you that every NFT collection needs to be integrated with XP.NETWORK individually, as we have whitelist the smart contracts. This is part of our multi-level security system.
Thanks to the XP.NETWORK, EOTM was able to launch its own NFT marketplace. Also, this marketplace can accept the native BEP-20 $WCM token, which runs on BNB Chain.
The project also launched a special edition of Employees of the Metaverse that are tied to real-life products (ashtrays specifically), so that buyers of these NFTs also receive a physical product.
Going cross-chain on Harmony, Ethereum, and BNB Chain has another advantage for EOTM: community awareness. Harmony One, for example, has a tight-knit and active community, but many of its members have never tried Decentraland. But with the help of the XP.NETWORK bridge to Ethereum they are both discovering wearables trading in Decentraland and getting 10% discounts in the cannabis marketplace.
The XP.NETWORK bridge will also play a key role in the upcoming series of EOTM mini-games. They will be launched on different chains, but using the bridge every Employee holder will be able to try them all.
Another advantage is that now that OpenSea supports BNB Chain, EOTM holders can also gain exposure to this largest of NFT marketplaces.
We recently held an AMA with XP’s CEO Nir Blumberger, CTO Dima Brook, and the EOTM founder Foreign Buffet. We do recommend that you watch it, as it provides many more details about the collaboration, as well as XP.NETWORK’s plans for 2023.
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