On October 5, MJ Holdings Inc. announced that it will present the details of MJ Holdings' groundbreaking Digital Asset Tokenization Project at the Web 3 X Expo, held at The Wynn in Las Vegas.
According to a press release, the company's new project seeks to position MJ Holdings as the leader in combining cannabis farming and a digital tokenization strategy.
The MJ Holdings vast real estate portfolio, 260 acres of growable land in Amargosa Valley, the growing expertise of the MJ team, and the unique corporate structure of MJ will combine legalized recreational cannabis and utility tokens, said John Tabacco VP of Digital Asset Strategy. For years, companies have proposed pie-in-the-sky ideas about tokenizing Marijuana crops, but to date, a grand total of zero has successfully demonstrated the resources, capabilities, and know-how to bring together these two emerging growth areas. We plan to useBlockchain and Digital token to streamline our process from growing to sale by using Tokenizing Cannabis Grow assets. There are still challenges faced by Marijuana growers around the country, but we believe this first pilot program will be the first step in a paradigm shift in space, said MJ founder Paris Balaouras.
Al Reasonover, the MJ Holdings' director of operations, also weighed in.
It had been four years of labor of love curating the Amargosa Farm and getting all the approvals, utilities, and critical infrastructure in place to grow the best-in-breed cannabis flower, indoor and outdoor. We look forward to combining our state-of-the-art facility and growing expertise with this groundbreaking digital strategy. We look forward to telling the world where MJ will be heading at the Web 3 Expo next week.