MJ Holdings's John Tabacco, vice president of digital asset strategy, will be presenting the details of the company's Digital Asset Tokenization Project at the Web3X Expo on October 10 in Vegas at the Wynn.
The company's new project is about combining cannabis farming and a digital tokenization strategy.
“I have been developing first of its kind, digital assets since 2015. In my previous role as VP of Technology at OVERSTOCK.coms crypto subsidiary Tzero we broke traditional norms using digital asset strategies in the e-commerce space and in the capital markets space," Tabacco said. "Now, we will combine MJ Holdings’ vast real estate portfolio, 260 acres of growable land at Amargosa Valley, the grow expertise of the MJ team and the unique corporate structure of MJ to merge legalized recreational cannabis and digital assets or utility tokens. For years companies have proposed pie in the sky ideas about tokenizing marijuana crops, but to date a grand total of zero have successfully demonstrated the resources, capabilities and cannabis know-how to bring together these two emerging growth areas. Crypto and cannabis.”
MJ Founder Paris Balaouras said “MJ has assembled a world class team of professional growers and we have done the hard work of putting together a state of the art world class facility with our 260 acres at Amargosa Valley. Now with John on board we intend to change the game in tokenizing cannabis grow assets and using blockchain and digital tokens to streamline our process from grow to sale. I have been in the cannabis marijuana game for decades and never before have I seen one company with such a unique collection of resources, assets and professional talent come together in one project. There are still challenges faced by marijuana growers around the country we believe this first pilot token program will be the first step in a massive paradigm shift in space. We are excited to lead the charge.”