The NFT revolution is already here
Over the last decade, the CBD sector has been showing tremendous growth that is matched only by a handful of emerging industries. From merely 108 million USD in sales in 2014 in the US, CBD products generated nearly 2 billion USD in 2022 alone. That is a growth of almost 20 times over the span of just 8 years. The industry is projected to reach 47.22 Billion by 2028 at an annual growth rate of over 21%.
While the use of cannabis plants dates from ancient times with a variety of different purposes and use cases such as pain alleviation, in cooking, as a remedy for sleep disturbances and many more, scientific research of CBD on its effects on human health has been going on for just 80 years. Over the last two decades, there has been a considerable progress of research in understanding how CBD affects the body, with multiple studies confirming some of the revolutionary properties of the substance for a variety of conditions. FDA approved drugs containing CBD such as EPIDIOLEX are used to treat seizures associated with epilepsy in both children and adults. Cancer patients undergoing chemotherapy are prescribed CBD to combat the symptoms associated with the aggressive treatment such as loss of appetite, weight loss and lack of sleep.
There are also many other use cases of CBD that are not yet conclusively confirmed but are showing promising preclinical results, including as a pain relief medication or an antidepressant. Some studies suggest potential benefits for some of the most deadly diseases including heart problems and high blood pressure. If confirmed, CBD can potentially become an alternative to some of the currently available medications for a multitude of conditions that have either limited efficiency, unwanted side effects or both.
Enter the Qoomed ecosystem
Qoomed is combining two emerging industries together – the CBD sector and blockchain technology. The project is focusing on harnessing the potential synergy effects between the two by identifying key ways that the advantages of blockchain – such as its transparency, immutability and freedom of transactions – can be applied to the CBD industry.
Qoomed creates the first comprehensive ecosystem for the CBD industry that provides access to high quality CBD products for consumers, various tools for CBD sellers and companies, as well as the first NFT marketplace that allows CBD artists to get a whole new world of possibilities to monetize their work in a cost-effective and profitable way.
The Qoomed marketplace connects sellers and buyers of CBD products directly and lists a variety of high quality products from well-known brands in the sector – Harmony, Osiris, Evielab, Huile, Playboy, Alpaisia and many more. A high product variety consisting of oils, edibles, cosmetic products such as creams, lotions, ointments, balms as well as many others awaits buyers on the Qoomed marketplace. What is more, Qoomed introduces multiple tools for sellers that allow them to better manage their orders, maximize their customer lifetime value, set up their own CBD dropshipping business and many more. Last but not least, the marketplace is the first in the CBD industry to offer cryptocurrency payments.
Recently, Qoomed also launched the first NFT platform for the CBD sector called 420.work. It allows artists and NFT hunters to mint, buy and sell unique NFTs that are focused on art pieces from the CBD and cannabis sectors. Fees and royalties are openly disclosed and paid in the native QOOMED token, which offers a variety of benefits to its holders. Additionally, every artist has their own sub page where all currently submitted NFTs are displayed. The process is greatly simplified and is similar to how the best NFT marketplaces like Mintable and Opensea work.
A new era for the CBD market
With the Qoomed marketplace and the 420.work NFT platform, the project creates a whole new world of possibilities for everyone involved in the CBD sector. The mission of the company is clear – to ultimately drive the adoption of the CBD industry further by improving the conditions for all stakeholders through both the power of blockchain technology that has already disrupted multiple sectors and by embracing new concepts that have never been implemented before.
Both the Qoomed marketplace for CBD products and the NFT platform are already live. You can register on 420.work to take a look at the currently available NFTs or even create your own. If you are interested in high quality CBD products, head over to Qoomed and explore the wide variety of different categories listed for sale.
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