Boutique Corporation PCL's Cannabis Arm Ventures into the Blockchain Industry with CannaThai420

Tuesday 11 January 2022 09:44
Bespoke Life Science Limited ("Bespoke"), a company under Boutique Corporation PCL, has ventured into the thriving blockchain industry with the launch of CannaThai420, a blockchain-based project focused on illustrating the entire lifecycle and value chain of legal cannabis in Thailand. The NFT packs developed by CannaThai420 shall broadly mirror the growth process, cycle, and ecosystem of Bespoke's cannabis cultivation, from the first step all the way to the clinics and wellness centers around Thailand.
Boutique Corporation PCL's Cannabis Arm Ventures into the Blockchain Industry with CannaThai420

Having recently received FDA approval in conjunction with its partner Rajamangala University of Technology Lanna Nan (RMUTL) for the legal medical production and cultivation of cannabis for traditional Thai medicine purposes, Bespoke aims to harness the unique opportunity to provide an unrivalled journey and experience for CannaThai420 community members. As an initial part of the project lifecycle, CannaThai420 will be launching Non-Fungible Tokens (NFTs), which will reflect the entire ecosystem of Bespoke's production and cultivation of legal cannabis in Thailand (as shown below). The exclusive NFTs will have real-world use cases including, but not limited to, special privileges for NFT holders in Bespoke's cannabis clinics and wellness centers across Thailand.

An experienced team has been assembled to commence the design and development of the CannaThai420 ecosystem. To ensure that the NFTs are beautiful digital collectables, in addition to the real-world utility, CannaThai420 has commissioned a skillful and proven team of Thai NFT artists to design each artwork distinctively; the team includes 3puck, Zleepygirl and Dojo Namwong.

The first pack of NFTs that will be released will be termed Seed Plant. Initially a total of 120 unique NFTs will be created, and only 99 pieces will be sold into the market. The remainder of the Seed Plant will be added to CannaThai420's treasury. The 99 NFTs directly depicts the 99 seed plants that have already grown in Bespoke's state-of-the-art indoor facility at the Rajamangala University of Technology Lanna Nan (RMUTL). On 30 June 2021 the partnership between Rajamangala University of Technology Lanna Nan (RMUTL) and Bespoke received FDA approval for the import of 41 seed strains of cannabis of up to 398 seeds and for the cultivation of cannabis for research and development (R&D). The partnership has imported 380 seeds representing 39 strains, giving the partnership the largest high grade foreign cannabis seed bank in terms of strains in Thailand. Till date, approximately 120 seeds have been planted at Seed Plant stage. Therefore, although 120 unique NFTs will be created mimicking the seeds that have been planted, the entire CannaThai420 ecosystem will, at a maximum, only ever contain 380 Seed Plant NFTs.

The Seed Plant NFTs will be the first of a series of NFT packs to be launched that shall broadly depict and mirror the growth process, cycle, and ecosystem of Bespoke's cannabis cultivation, from the first step all the way to Bespoke's clinics and wellness centers around Thailand.

As CannaThai420's NFTs aim to depict the real-world journey and value of cannabis cultivation, the significance of the Seed Plant NFTs are enhanced even further. Firstly, the Seed Plant NFTs will be the first ever representation of legal cannabis plants in Thailand. Secondly, as the seed plants are not required to be repeated in each growth lifecycle, each Seed Plant NFT will remain scarce and in demand within the CannaThai420's ecosystem. Thirdly, the Seed Plant NFTs is the first stepping stone in the quest to discover the strongest and most valuable cannabis plants, termed the Royal Alpha Family (comprising of 1 Alpha Queen and 9 Alpha Princesses). This effectively means Seed Plant NFT holders, who are able to purchase the limited NFTs, could be holding the electronic version of the most potent, valuable cannabis plants in Thailand.

CannaThai420's NFTs will be developed on the Ethereum blockchain and the Seed Plant NFTs will have an initial floor price of 0.42 ETH. The CannaThai420 website is currently in development to host the sale. The NFTs will be available for sale on www.CannaThai420.com and will be immediately tradable on secondary NFT marketplaces, such as OpenSea. The sale will begin on the 28th of January 2022 at 1pm GMT + 7 (Thailand local time).

"This highlights the business agility of Boutique Corporation PCL as we demonstrate an innovative and entrepreneurial mindset of our company as we pivot our business during the COVID pandemic. We are pursuing and driving towards an asset light strategy. I envision the integration of blockchain technology across our real estate portfolio, our private equity like business and within our headquarter operations. I am very pleased to see the commencement of one of many pivots to come within Boutique Corporation PCL." said Mr. Prab Thakral, President and Group CEO of Boutique Corporation Public Company Limited.

The cannabis journey continues to grow and expand as Bespoke, in conjunction with RMUTL, are now planning the development of a larger indoor growing facility for approximately 40,000 plants to be developed on a six rai piece of land within the RMUTL campus. The new facility will be ready by the first half of this year in tandem with the opening of Bespoke's first of what is to be many high-end clinics and wellness centers. The first wellness center will be opening on the ground floor of Summer Point, one of Boutique Corporation PCL's own properties, a stone's throw away from Phra Khanong BTS station.

For the latest updates and exciting announcements regarding CannaThai420, we encourage you to join our community via our social media channels - Discord, Twitter, Facebook, Instagram and Telegram.

Source: Spark Communications