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Its collection of digital assets has arrived in Times Square. Photo: Pixabay.

Greenlab sees growth in its medical cannabis and NFT technology models

How two Colombian entrepreneurs are growing cannabis for medical use, and making NFTs to boot.

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Medical cannabis and NFT technology in the same company? This is Greenlab, a company founded by two Colombians who unites these two new industries in its business model to boost financial growth.

Amid an accelerated and promising development of the cannabis industry worldwide, the firm, which produces CBD oils and health and beauty products from marijuana, also seeks to position itself as a new player in the world of digital assets, specifically NFTs.

cannabis crops

The venture, whose main objective is to offer physical and mental well-being to thousands of people through its innovative medicinal products, has also set ambitious goals that allow it to merge this business segment with the world of cryptocurrencies.

“This project aims to use technology to create an international community that sees the cannabis plant as a generator of change and Colombia as a world benchmark in its production. We are bringing together the digital world of NFTs with tangible assets such as a Cannabis plant,” Juan Manuel Tellez, co-founder and CEO of Greenlab, told Forbes.

Times Square was the place chosen by the company and its investors to launch 'Space Resistance,' its collection of 5,555 digital works by artist Julián Majín. The theme of the pieces, associated with the cannabis industry, shows a group of astronauts traveling to space to ensure the survival of medical marijuana.

Tellez highlighted their publication:

If this plant cannot grow freely on Earth, we will take it to space. The message is clear: Cannabis will continue to grow to improve the lives of millions of patients around the world.

"Join the resistance and become one of the 5,555 space rebels who will help radiate the magic of cannabis through the Ethereum block chain," it reads on the 'Space Resistance' website. They also point out: "Despite the multiple benefits offered by the Cannabis plant, its presence on Earth has been threatened. That is why we launched this mission in order to take 5,555 astronauts into space and thus ensure the survival of this mystical plant.”

In addition to getting the digital art piece, buyers will receive a medical cannabis product from Greenlab.

“We chose Times Square for the official launch as this is where the world's most renowned NFT collections are screened. We wanted to be present on this stage to gain international visibility and for Colombia to become a benchmark by combining NFT technology with cannabis crops," Téllez told the publication.

What is an NFT?

An NFT, which stands for Non-Fungible Token, is a digital asset stored on blockchain technology that cannot be easily exchanged as it is associated with a certificate of authenticity.

These pieces can reach million-dollar figures when sold, as is the case of 'Everydays: The First 5,000 Days,' by digital artist Mike Winkelmann, known as Beeple, which raised close to $70 million.

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