Farmhouse Announces Joint Venture With Metaverse Entertainment Label

Rhea-AI Summary

Farmhouse Inc. (OTCQB: FMHS) has launched a joint venture to license Bored Ape Yacht Club's #2186, 'Oro Blanco,' for a new cannabis brand in collaboration with Ape-In Productions. This initiative aims to enhance revenue by linking established cannabis brands with NFT and web3 opportunities. With over $8.5 billion in NFT trading this year and BAYC generating $1 billion, this partnership positions Farmhouse to connect cannabis retail with the NFT community. The company is set to pioneer collaborations that merge cannabis and entertainment, leveraging its extensive professional network.

Positive

• Launched a joint venture to license BAYC #2186, which can enhance brand visibility.
• Plans to enhance revenue by connecting cannabis brands with NFT opportunities.
• Boasts a network of over 5,000 cannabis professionals, expanding market access.

Negative

• None.

SAN FRANCISCO, April 11, 2022 /PRNewswire/ -- Farmhouse Inc. (OTCQB: FMHS) (the "Company") announced today the launch of a joint venture to license Bored Ape Yacht Club (BAYC) #2186, "Oro Blanco," as the face of a new cannabis brand on behalf of Ape-In Productions (AIP), a ground-breaking entertainment company and virtual community.

The joint venture is part of the Company's planned growth strategy for increasing revenue streams by connecting the Farmhouse network of established cannabis brands to exciting value-add opportunities. With over 95,000 Twitter followers and a platform of over 5,000 cannabis professionals, the Company is opening doors for cannabis brands to expand into NFTs and web3 communities.

"Farmhouse continues to leverage its brand to connect the cannabis industry to the most exclusive opportunities. Our relationship with Ape-In Productions brings cannabis brands the opportunity to connect with some of the most prestigious and visible NFT projects, such as AIP and Bored Ape Yacht Club.," said Evan Horowitz, CEO of Farmhouse. 

Since the start of the new year, over $8.5 billion dollars of NFTs have traded. BAYC itself has accounted for over $1 billion dollars in NFT trading overall. It is a growing community of holders that includes such high-profile individuals as Snoop Dogg, Timbaland, Justin Bieber, Eminem, Madonna, plus many others, and brands like Adidas have worked directly with the BAYC and members of its community.

Among other community benefits and network effects, BAYC bestows the intellectual property rights of the Bored Apes to their holders, and these powerful commercial rights can be leveraged inside and outside of the NFT space, and AIP is doing just this to inject the excitement of music fandom into the BAYC world. AIP was formed to develop NFTs such as Bored Apes into popular music artists in the metaverse, and already boasts a roster of talented characters, such as Oro Blanco, who are growing in popularity and visibility.

The joint venture represents the Company's ability to monetize its growing cannabis network by connecting retail brands with the top communities in the NFT space. With thousands of cannabis professionals in the Farmhouse network, and access to an ever-growing network of burgeoning NFT assets, the Company is positioned to pioneer the future of NFTs and cannabis.

Follow @420 https://twitter.com/420 to stay up to date on the Company's latest NFT developments.

About Farmhouse, Inc.
Farmhouse has multiple divisions, including the WeedClub® Platform, a professional social platform, that enables professionals to connect, discover products and services to scale their businesses. The Company believes it has established itself as the trusted brand to connect the industry through the WeedClub® Platform and its @420 Twitter handle. 

Forward Looking Statements
The Company cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business.

View original content:https://www.prnewswire.com/news-releases/farmhouse-announces-joint-venture-with-metaverse-entertainment-label-301523149.html

SOURCE Farmhouse, Inc.

FAQ

What is the significance of Farmhouse's joint venture with Ape-In Productions?

The joint venture aims to license Bored Ape Yacht Club #2186 to create a new cannabis brand, enhancing revenue opportunities in the NFT market.

How much has the NFT market traded in 2022?

The NFT market has traded over $8.5 billion in 2022, with Bored Ape Yacht Club accounting for over $1 billion.

What opportunities does Farmhouse see in connecting cannabis brands with NFTs?

Farmhouse aims to leverage its cannabis network to create innovative partnerships that merge cannabis with digital assets and web3 communities.

What is the role of BAYC in Farmhouse's strategy?

Bored Ape Yacht Club serves as a prestigious branding opportunity for Farmhouse, linking cannabis products with a high-profile NFT community.

What are the potential risks mentioned in the press release?

The press release contains forward-looking statements that may not materialize, highlighting potential risks and uncertainties in their plans.