Gaming Apps Provide Unique Marketing for the Cannabis IndustryWhile consumer demand and transactions within the online cannabis industry continue to experience exponential growth, there are several challenges cannabis businesses are facing on online platforms. CannabisTech spoke with Goran Temkov, Director of Chronic Games Limited, the studio behind CryptoChronic about the solutions his team is offering.
Advertising and marketing have never played a more prominent role than in today's consumer market. Social media sites and the internet, in general, have opened up new avenues for advertising that have businesses investing more time, energy, and resources in marketing than ever before. However, despite the advances in cannabis legalization and cannabis market growth, cannabis companies experiencing heavy restrictions when it comes to advertising on major social platforms.
The recent coverage of Weedcraft Inc.'s advertising woes illustrates these blockages. Weedcraft’s game is focused on building a corporate business model for legal cannabis, yet it has come up against struggles to advertise on prominent social media sites. Engadget reported that the developers had found this game, about a legal industry, more challenging to promote and market than any other games they had previously developed- including games with extreme levels of violence and sexuality.
This story highlights an essential need in the industry where cannabis businesses are struggling to make full use of profitable digital tools. The CryptoChronic team is set to build new bridges in the industry, by utilizes several parallel platforms to create opportunities for both consumers and businesses.
CB TOKEN: A Technological Ecosystem
What is CB Token?
The CryptoChronic gaming arena constitutes merely one part of a larger ecosystem, CB Token.
CB Token is built on the blockchain model and serves as a multi-level platform consisting of a social network, crypto exchange system, solutions for eCommerce, and a video game for the cannabis industry. These are designed to take full advantage of network effects, using each other to stimulate and increase marketing prospects.
"We are a marketplace. Businesses open a relationship with us on all platforms. And thanks to our large marketing budget, and the fact that we are inserted in a much larger ecosystem, …we can manage to give a louder voice to cannabis businesses which are trying to sell online. And also much better prices, much better service and a lot less stigma for the user," Temkov explains.
CB Token was designed as an answer to the pivotal challenges faced by both cannabis consumers and business; the challenges of payments online, marketing and promotion on a broad scale such as social media channels, branding, and other crucial digital tools.
While this may seem like a tall order, the blockchain model could provide unique solutions to both stakeholders and customers. CB Token is a cryptocurrency which will begin to increase in value as the network increases in size, in turn providing increased value to the community involved.
There are currently four leading platforms wherein CB Token is utilized as value for transactions and transfers:
- Social Media Platform: CANNABOOK
- E-Commerce Platform: CANNASTORE
- Gaming Platforms: CRYPTOCHRONIC
- Trading and Cryptocurrency Exchange: CANNXCHANGE
The idea is to utilize the CB Token for all transactions, including the sale of merchandise and services. As the members of these platforms grow in number, so too will the value of the CB Tokens.
Using Video Gaming as Market Leverage
While the platform is designed to be a multi-level ''ecosystem'' of parallel marketplaces, Prinzi and his team will be using the gaming world as a stepping stone to tap into the current market and begin bringing in customers and potential businesses.
"…the idea there is really to break through with a video game. Really start bringing in numbers and leverage that for the other platforms," adds Temkov.
According to Temkov, a vast majority of millennials are in favor of cannabis legalization, and since they form a large portion of the company's target market, it makes sense to provide a video game that can offer a doorway into the CB Token platforms and trading floor.
Temkov explains, "71% of millennials, which are our target customer segment, are favorable towards legalization. 81% of them play video games. So it's quite obvious that there is a space from convergence there…"
According to Temkov, Gaming can be utilized as a positive reinforcement for a growing industry. As responsible cannabis games are developed, the concept of legalization and cannabis is normalized.
For Cryptochronic, this translates to a community of gamers who can breed their cryptocurrency within the game itself. Characters are bred and taken care of, they can be traded, and as they grow in strength and stability, they can be used in the multiplayer Battle Mode (Smoke Offs). In a similar model to the Tamagotchis of the '90s, they will be demanding characters, and rely on a relationship with the gamer. These characters can be traded in Ether as well as in CB Tokens, which could be sold on an exchange or used on the other trading platforms and marketplaces too.
A New Way to Market Marijuana Businesses
Consumers are privy to a changing landscape in the way cannabis is viewed, whether for recreational or medicinal use and are simultaneously privy to a changing business landscape as technology and blockchain determine the future marketplace. Therefore, new and innovative business platforms and solutions are coming to light- one of which being CB Token and the connected platforms.
Looking to the future, the CB Token platform wants to expand into the global cannabis marketplace. As the cryptocurrency increases with their growing online community, CB Token strives to provide both small and large business with greater exposure and online visibility.