Sign up USA
Proactive Investors - Run By Investors For Investors
Markets

CryptoCann™ Report: Nobel prize-winning economists join crypto boards; Weedcraft Inc allows gamers to build their own cannabis empire

Start-ups in the crypto world are capturing the attention of award-winning economists
Man playing a PC game
Devolver Digital is developing Weedcraft Inc, a game which allows players to start a marijuana business

The Crypto Report

The cryptoverse has attracted retail and institutional investors alike, but it’s also been luring some of the world’s best and brightest economists.

Several Nobel Prize-winning economists have been advising crypto and blockchain companies, according to a Cryptonews report.

READ: Coinbase exchange shakes up rules as it looks to boost cryptocurrency listings

Blockchain research company Cryptic Labs welcomed Eric S. Maskin and Sir Christopher Pissarides, two Nobel Laureates in Economics, to its economics advisory board.

Harvard University’s Oliver Hart, a 2016 Nobel Prize laureate, works with blockchain advisory company Prysm Group.

The interest of award-winning economists may lend some credibility to crypto in its current bear market.

Despite the crypto crash, a report from trading service Bitmex found that it hasn’t affected most initial coin offering project financing.

Bitmex evaluated 222 ICOs and its report found that most of the project had converted what they’ve raised into fiat currency.

"Of the 222 projects which we looked at, they raised US$5.5 billion worth of Ethereum and they may have already sold almost exactly the same amount (just US$11 million less). These ICOs currently hold 3.8 million Ethereum, around 25% of the Ethereum they originally raised," stated Bitmex in its report.

Many ICO projects raise their money using Ethereum’s crypto token, known as an Ether. The report noted that the token’s price has fallen nearly 85% from its $1,400 peak price in December 2017.

The Cann Report

The long-awaited legalization of recreational marijuana in Canada is swiftly approaching and the country’s largest cannabis companies are stockpiling their supplies to prepare for the rush.

MedTainer Inc (OTCMKTS:ACOL) has received its seventh orders from cannabis giant Aurora Cannabis Inc (CSE:ACB, OTCQX:ACBFF) for thousands of its containers.

READ: Why America's cannabis companies are flocking to Canada to woo public investors

The company manufactures containers that are FDA-approved, child-resistant, air-tight and water-proof.

The California-based company said in a press release that it expects its sales and profits to double in 2019.

Pharmaceutical companies have taken a particular interest in cannabis, seeking out its potential healing properties.

Marijuana isn’t all fun and games — except when it is.

Devolver Digital’s is developing a new game called Weedcraft Inc, which allows players to start a marijuana business from the ground up, as per a Polygon report.

Players can cultivate marijuana plants, hire and manage a staff of growers, mix and match plants to create new strains and influence lawmakers.

“Right now, it’s like the end of Prohibition meets the Gold Rush,” said main writer Scott Alexander in an interview with Polygon.

“The federal illegality combined with the state-by-state legalization has created a financial morass and just a weird, interesting place. And we thought, ‘Well, that’s a tycoon game waiting to happen.’”

The game is expected to be released in early 2019 for PC and will be available for download sometime after that.

Join our Crypto, Blockchain and Cannabis Telegram group here

Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use