Cannabis Gaming Site Launches Cryptocurrency IDO

Miami-based Grow.House gaining popularity as a platform for educating cultivators
Written by 
Chris Kudialis, CBD and Cannabis Reporter.
|Last Updated:

What started out as a simple game for teaching people how to grow marijuana has turned into a digital currency that’s piggybacking on the worldwide crypto boom.

Grow.House, a free online Farmville-like game that brands itself as a platform for lovers of crypto, cannabis and decentralized finance, launched the initial dex offering of its $GROW token on Tuesday. The token began trading on popular crypto exchange site Pancake Swap in the early afternoon for a starting listed price of $0.10 per token.

“Most people have played a game similar to the one that we offer,” said Branden Hampton, the founder and CEO of Grow.House. “Whether you’re a millennial and you played the Sims when you were little, or today’s Clash of Clans gamers, it’s a world that allows you to build and develop characters and ecosystems. You can continue improving upon those ecosystems and there’s an in-game currency―whether it’s diamonds, jewels, gems, or coins.

Grow.House players can earn the new $GROW tokens by planting and nurturing digital cannabis in the game. In a nutshell, growing more marijuana means earning more coins. Hampton contends that incentivizing people to learn about yield farming through the game will result in a larger number of real-life cannabis growers capable of growing quality marijuana.

Hampton said he designed Grow.House for even novices with no background of growing the plant to enjoy and learn from. The game aims to implement the fun of Facebook’s Farmville game with modern agricultural techniques that let players have fun while earning cryptocurrency.

“We recognize some people are crypto natives, and understand crypto, but don’t understand cannabis,” Hampton said. “There’s similarly cannabis natives who understand cannabis, but don’t understand crypto.”

The company’s way of launching its token is also new. An initial dex offering, or IDO, is one of a handful of decentralized crowdfunding platforms that targets fundraising in the crypto space.

IDOs allow businesses to engage their clientele in an economy that builds their products and services while allowing them to also walk away with assets.

In the same way that traditional startups receive venture capital before launching, companies issuing IDOs raise financing from individual investors, according to crypto data site CoinMarketCap. But unlike in an initial public offering, investors in IDOs never own any equity in the business.

Chris Kudialis
Chris Kudialis
CBD and Cannabis Reporter
Chris Kudialis is the mainstream media’s authority on marijuana and CBD news coverage in Las Vegas. Chris began covering the beat as a reporter with the Las Vegas Review-Journal in 2015, when cannabis had been medical-only for almost two years and the first dispensaries were just opening.

Read More

Important Disclaimer
All contents of the LeafReport Site, such as text, graphics, images, and other material contained on the LeafReport Site are for informational purposes only. The Content is not intended to be a substitute for professional medical advice, diagnosis, or treatment. Always seek the advice of your physician or other qualified health provider with any questions you may have regarding a medical condition. Never disregard professional medical advice or delay in seeking it because of something you have read on the LeafReport Site!