There’s no denying the crossover between psychedelics and cryptocurrency.
The founders of some of the largest public psychedelic companies are deeply involved in the cryptocurrency and blockchain space.
Even an event, CryptoPsychedelic, founded by Matt McKibbon, aims to “bring together leaders in blockchain and psychedelic science to discuss new possibilities in research, innovation, and community building.”
This week though, we saw a new project from Mycelial Gallery that combines the two worlds in a new and interesting way.
Mycelial Gallery is a digital gallery space that produced a limited edition NFT series on the Cardano blockchain.
NFTs, or Non Fungible Tokens, are the latest trend in crypto, with weekly trade volume crossing $500 million last week and brands such as Visa and Budweiser jumping on board.
Mycelial Gallery’s first NFT series, “Pioneers,” was created in collaboration with the artist and designer known as Projekt. The company produced 25,000 NFTs and pledged to donate 10% of the profits to the psychedelic non-profit, MAPS stating:
We are passionate about mycology and believe that fungi play a crucial role in the future of technology, our species and our planet. Which is why we are compelled to give a portion of our profits to research groups that further our understanding.
Mycelial Gallery’s launch was a success, with the entire gallery selling out in less than two weeks.
With MAPS recently announcing that they would begin accepting donations in five cryptocurrencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, and Monero), Mycelial Gallery reached out to ask if they would accept Cardano.
Once MAPS said yes, Mycelial Gallery initiated a transfer of 54,249 ADA (the native currency of Cardano), worth $108,498 at the time.
With this being the first of many projects from Mycelial Gallery, we look forward to seeing what they produce next.