Smoke marijuana, earn Bitcoin: Company slammed for tying crypto reward to vaping in California
&imwidth=600&imheight=450&format=webp&quality=medium "Smoke marijuana, earn Bitcoin: Company slammed for tying crypto reward to vaping in California")
Vaping can earn consumers Bitcoin in California. Photograph: (Unsplash)
In a move that feels like the ultimate California crossover, a new vape pen exclusive to the Golden State is incentivising cannabis use by rewarding consumers with Bitcoin. The company behind it is facing backlash for pushing consumers to make poor health choices.
A vape company is giving people crypto in exchange for smoking weed. Blockchain hardware manufacturer Puffpaw also produces Gudtrip, a cannabis vape pen. It is now offering its consumers a chance to earn Bitcoin while smoking weed. With each vape pen, people can redeem $2-3 worth of bitcoin via a QR code or NFC connection in the linked mobile app. The language on its website reads, “Every hit earns crypto.” The company is facing backlash for basically pushing people into vaping by luring them with the promise of crypto. Following this, it has changed the words on its site and is also claiming that there is no direct reward tied to vaping. The bitcoin reward is offered as a loyalty payment when a new vape pen is activated. Smokers scan a QR code or tap via NFC to connect it to the Gudtrip app, which unlocks the monetary reward. From there, it tracks puff-seconds of usage, and the company says it is purely for personal information and has no monetary reward tied to it. Gudtrip’s vape pen is sold only in California.
Users accumulate virtual points, and Gudtrip says that those points exist only for record-keeping, and they cannot be redeemed for cash, products, or any other value. Puffpaw says Gudtrip mixes cannabis, Bitcoin, and artificial intelligence to create a user-powered network. However, reports show that the company said in a promotional video - “Every inhale syncs with your phone and earns users Bitcoin or Gudtrip points in real time. This is the first step toward a smarter cannabis culture.”
The marketing gimmick has raised concerns with health researchers questioning the company's action. Experts say offering incentives for frequent use could lead people to make poor choices about their health. They can also trigger anxiety, memory issues, and respiratory problems.
Crypto rewards tied to marijuana
Many businesses have used crypto rewards over the years, including in the marijuana industry. One of them was Potcoin, where a marijuana-themed altcoin sponsored Dennis Rodman's trip to North Korea in 2017. As soon as he arrived in Pyongyang, the coin's value jumped nearly 97 per cent to more than $0.18. Its overall market capitalisation stood at $40 million. But Potcoin lost more than 99% of its value in late 2017.
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Gudtrip chose to go with Bitcoin instead of creating its own crypto. However, past reports from Protos indicate that Gudtrip previously said users will be rewarded via a token known as VAPE. Further, DL News reports indicate that Puffpaw told customers at one point in an Xpost that a token would be launched in the future.
