BudBlockz (BLUNT) the next best thing for FTX Token (FTT) investors

November 16, 2022 at 10:44 am

News

BudBlockz (BLUNT) the next best thing for FTX Token (FTT) investors

BudBlockz: better e-commerce solutions for the international cannabis market

BudBlockz is an e-commerce platform built on Ethereum and connects cannabis companies and entrepreneurs with the international markets. The platform serves as a bridge between companies seeking to explore new opportunities in the market and the global cannabis ecosystem.

It has launched a native token called $BLUNT built on the ERC-20 protocol of the Ethereum network. The native token comes in handy while dealing with various transactional purposes on the network, which include staking, liquidity management, trading NFTs, and signing petitions, among others. If you are interested, you can buy the $BLUNT Token on presale.

$BLUNT has a total supply of 420,000,000 units, but the tokens will be burnt regularly to keep their supply limited. A scarce supply keeps the prices in control and minimizes fluctuations. The supply of these tokens is divided into different categories like presale, liquidity management, marketing activities, maintenance of developers’ wallets for the founding team and project partners, and token burn events. However, the largest share of the tokens has been allocated for presale (25.6%) and private sale (6.4%).

The platform also offers its users the opportunity to invest in a limited-series NFT collection called the Ganja Guruz. The NFT collection comprises digital artworks that are a tribute to the popular video games of the 1990s and is built on the ERC-721 standard. The total number of NFTs in the collection is 10,000. What’s more, is that by purchasing these NFTs, buyers can become fractional owners of the cannabis farms and dispensaries that BudBlockz aims to set up worldwide. They can become fractional owners of such facilities simply by signing up for a KYC application. Investing in these cannabis facilities via the Ganja Guruz NFTs is like investing in a regular asset, where users earn an annual dividend. Also, the maintenance of these farms and dispensaries would be looked after by the BudBlockz team.

Even cryptocurrency analysts claim BudBlockz has the edge over other cryptocurrencies as it targets a niche sector and has solid use cases. Many of the analysts who have reviewed it believe that it has the potential to cross 100x returns in the long term future.

As FTX stares at an uncertain future, FTT prices nosedive

FTX is a decentralized exchange for holding, staking, selling, and buying cryptocurrencies and was launched in 2019 by Sam Bankman-Fried. Its native token is FTT which can be used for all kinds of transactional uses on the platform, including staking, payments, and liquidity pool acquisition. FTX used to repurchase FTT Tokens and then burned them to regulate its supply and rein in price fluctuations.

However, the platform has been in the news for all the wrong reasons over the past few months. Earlier this week, FTX filed for voluntary Chapter 11 bankruptcy proceedings. The development comes days after Changpeng Zhao (CEO of Binance) tweeted that he would be liquidating holdings in FTX following reports of troubled financial affairs of FTX’s trading fund Alameda Research. The report claimed that Alameda Research held hundreds of dollars worth of FTT Tokens, which it used as collateral for securing loans. The plot thickened after it became public that Sam Bankman Fried was under the scanner of the US Department of Justice and the Securities and Exchange Commission (SEC). The past few days have led to FTT prices diving sharply.