AIC Allocates $12.5M for Metaverse Project

MetaversePlanet November 13, 2022Last Updated: August 14, 2024

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Cannaverse, dedicated to creating a worldwide metadatabase for the Cannabis community, has successfully secured funding.

This financial support was spearheaded by AIC Digital Asset Group, acting on behalf of Cannaverse.

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Metaverse for the Global Cannabis Community

AIC Allocates $12.5M for Metaverse Project

The Cann averse project, CANNALAND, has received a significant funding boost following an initiative by AIC. Atlantic International Capital (AIC) announced this development in a press release on Thursday, November 10.

As per the company’s statement, $12.5 million was raised from a consortium of private investors to support the development of CANNALAND. This metaverse project is tailored for the global Cannabis community.

Cannaverse Technologies, the first company to develop a metaverse for the Cannabis sector, is leading this project. CANNALAND aims to unify assets involved in production, purchasing, and selling, integrating these with a blockchain payment system in a metadatabase. This integration is vital, given the reluctance of many banks and financial institutions to service businesses in the Cannabis industry.

The project’s objective is to establish the foremost community for Cannabis brands. Within this metadata store, users will have unrestricted access to global Cannabis brands. Mark Bonner, CEO of Cannaverse Technologies LTD, praised the company responsible for the funding, stating:

“We are grateful for AIC’s efforts in securing funding for our project. This agreement enables us to concentrate on developing the CANNALAND project and implementing our business model.”

Sharing Ideas and Discovering More About Cannabis with AIC

In the metadatabase warehouse area, both B2B and B2C operators will have the opportunity to share their ideas in an engaging and enjoyable environment. This space is also designed as a place for exploration and education about Cannabis.

The platform innovatively integrates Web2 eCommerce functionalities, allowing users to place orders and choose their preferred package pickup locations.

Moreover, the Metadata store features various other aspects, including entertainment, educational resources, interactive community forums, support for conferences, and additional Cannabis-related functions.

Jeffrey Lombard, AIC’s Managing Partner, commented on the company’s role in advancing the Cannabis project through strategic funding:

“AIC’s guidance and support in securing funding for the CANNALAND Metaverse from Cannaverse Technologies has played a crucial role in elevating this project to a higher level.”