The end is near for the FTT token amid reports Binance exchange is backing out from the planned acquisition of the embattled FTX exchange. The reports have sent shockwaves in the cryptocurrency sector, with Bitcoin and Ethereum recording double-digit percentage losses as uncertainty continues to grip the sector. FTX token is already down by more than 90% for the week. However, amid the bloodbath, BudBlockz continues to outperform the overall sector as the future of the cannabis and cryptocurrency sector.
FTT Woes Persist
The steep selloff in the cryptocurrency sector has once again affirmed that only projects with proven utility and use cases have what it takes to survive the onslaught. Unfortunately, it now appears that the FTX token is not one of them amid reports the US Securities and exchange commission is investigating the exchange and its dealings as it continues to face liquidity challenges.
Binance, one of the earliest backers in the exchange pulling back on acquiring the exchange also affirms significant underlying issues. Extreme volatility remains the toll order in the cryptocurrency sector, with Coinbase experiencing a double-digit percentage drop and Robinhood going down by more than 9% in the aftermath of the FTT token implosion.
BLUNT the FTT Alternative
In contrast, the prospects around $BLUNT, the native token that powers the BudBlockz ecosystem remains intact. The solid long-term prospects have everything to do with BudBlockz positioning itself in two of the fastest-growing sectors with enormous opportunities for growth.
BudBlockz has set out to enhance operations in the cannabis sector while leveraging cryptocurrency power. Consequently, it has moved to enable efficient, fast, and secure transactions of cannabis products on a platform powered by revolutionary blockchain technology.
The crypto cannabis project has unveiled an e-commerce platform allowing people to easily buy and sell cannabis products while maintaining their privacy. $BLUNT is the native token that will enable transactions on the platform while allowing people to own fractional stakes in cannabis farms, dispensaries, and stores.
NFT-DeFi Opportunity
The cannabis platform is not the only thing poised to enable the utility and use case of the $BLUNT token. BudBlockz has also set sights on the Non-Fungible Token spectacle. It has already launched its line of NFT tokens dubbed Ganja Guruz that will offer holders a string of benefits; for starters, holders will enjoy membership access to various cannabis dispensaries and farms while also enjoying discounts in various stores.
The ability to own fractional stakes in cannabis farms and dispensaries should excite Ganja Guruz holders. BudBlockz is also working on an NFT marketplace that will allow people to create, buy and sell NFTs. $BLUNT is the token that will power the platform.
BudBlockz has also set sights on the Decentralized Finance Space with the unveiling of BudSwap. The DeFi platform will make it easy for people to make and receive cryptocurrency payments while using the native $BLUNT token.
Bottom Line
FTT token implosion does not mean the end of the road for cryptocurrencies. Instead, the focus is slowly shifting to projects with a proven utility use case and long-term prospects. BudBlockz is one project that is turning out to be a gem amid the depressed valuation levels. Its bid to revolutionize the cannabis sector and pursue growth around NFTs and DeFi underscores its growth metrics and long-term prospects.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
BudBlockz Community Links: https://linktr.ee/budblockz
