Cannabis companies are using the metaverse to reach young consumers. Many brands are setting up shops, selling digital products, and promoting physical merch in virtual worlds, and Gen Z and Millennials are already making purchases there. Now, the cannabis industry is stepping into the metaverse mix, where they have the ability to speak more freely about marijuana use than they can on platforms like Facebook. Higher Life CBD Dispensary, Saucey Farms & Extracts, and Kandy Girl have all opened virtual stores in metaverses, where they’re experimenting with selling both virtual and physical products. In Higher Life’s store, in the platform Voxels, consumers can’t order products directly in the virtual space, but can click a mock cash register to visit the company website and order products there. Kandy Girl is selling NFTs in Decentraland to help promote their products and reports sales “have totaled about $30,000 so far.” YPulse research shows Millennials are smoking more weed than ever, but they are also less likely to be as active in the metaverse in comparison to Gen Z. However cannabis brands playing in the space are sure it will be worth it when more people embrace virtual worlds. (WSJ)
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