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South African entrepreneur drops nearly $20k on 20 cannabis seeds

South African business exec and entrepreneur Matt Benas has ponied up R224,000 (about C$19,875) for two packs of weed seeds in what is being called the “world’s first NFT authenticated cannabis strain” transaction.

Benas outbid a number of interested parties to score a total of 20 seeds (from two different cultivars) from U.S. breeder Gage Green Group (GGG), along with as associated original artworks by GGG founder Jeff Selsor, in an NFT (non-fungible token) auction at the end of last month. The entrepreneur paid 5.5 Ethereum (ETH, a cryptocurrency) and 1.82 ETH, respectively, for each cultivar.

The cultivars, called ‘Rise’ and ‘Burn,’ will never be reproduced by GGG. The occasion marks the first time that GGG has released seeds for a single, exclusive owner.

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