Creso Pharma has joined tech trend the metaverse, buying a plot of digital land “strategically located” next to rapper and cannabis influencer Snoop Dogg.
The firm told the ASX it has secured a plot in The Sandbox, a community-driven platform where creators can monetise digital assets and experiences. It said the project has cost around A$150,000 so far.
The Sandbox metaverse will open to the public in the coming months, and already boasts more half a million users, which Creso intends to leverage for sales and marketing purposes.
It has partnered with technology company Collective Campus to launch its brand and products into the metaverse.
As part of the strategy, the firm has constructed a digital replica of wholly owned Canadian subsidiary Mernova Medicinal’s cannabis cultivation facility, which shareholders are invited to tour when it goes live in Q2 CY22.
Creso is also building a large stadium next to the digital facility, which may be used to host online concerts with prominent cannabis influencers, product launches and other events to drive engagement with potential customers, subject to regulatory clearances.
CEO and managing director William Lay said: “We are very excited to unveil our plans to enter the metaverse.
“We expect that the launch will allow for the introduction of Creso Pharma’s brands and products to a wide range of new consumers utilising the metaverse to seek the latest and most exciting developments.”