Denver, Colorado--(Newsfile Corp. - November 9, 2022) - CBD of Denver (OTC Pink: CBDD) (Mellow Enterprise), announces it has signed a letter of intent to be the exclusive European license partner for the Tokem technology. The app is a blockchain built platform which rewards consumers with native cryptocurrencies when shopping at their favorite cannabis authorized retailers.
The technology unlocks a new avenue to incentivise consumers of cannabis, CBD and vape related products with a loyalty and rewards programme unlike anything else currently on the market in Europe. This enhances CBDD's strategy for building out an advanced network of retail partners across Europe and the U.K.
Tokem is a purpose built web3 application, with its own cryptocurrency and NFTs, that are both issued as rewards and enhancements to users' shopping experience. In North America, the platform currently incentives dispensaries, and other cannabis related retailers, by offering them a unique way to improve customer loyalty. Additionally, retailers and staff are rewarded by the platform through NFTs & cryptocurrencies, much like consumers are. This enables retailers to offer discounts to their most loyal customers.
CBDD will pilot the program with Tokem, allowing them to enlist European retailers and consumers to amplify cannabis marketing on the continent. Plans are in place to pilot the project in Switzerland, Germany & the UK - three of the most crypto-advanced markets in Europe.
Paul Gurney, CEO of Mellow Enterprise (CBDD) said the following on the announcement: "We've been looking at strategic avenues to cement a stronger position in the European cannabis market. With struggles to advertise and promote cannabis brands and products worldwide, we've seen an excellent opportunity to build a loyalty platform that retailers can use to incentivise their existing customer base, whilst attracting new ones."
Gurney continued, "After months of discussions, I'm excited to be announcing our plans to pilot this in three major European markets. We've seen the potential of the app firsthand and believe it will be a fantastic fit for a market handcuffed with advertising restrictions. The nascent legalization of adult-use cannabis across Europe makes this the perfect time to deploy this technology. We look forward to progressing with this project as we build a retailer and user base for an exciting, forward-thinking platform."
President of Tokem, Simon Linden-Fraser also commented on the JV, "After beginning our pilot in Canada, we are extremely excited to be quickly moving overseas with the Mellow team to deliver Tokem to three major European markets. Tokem bridges cannabis customers, retailers, brands and the web3 industry in a new rewards model that we think will solve a number of problems pervasive in this rapidly growing but highly regulated industry."
About Mellow Enterprise
Mellow Enterprise (formerly CBD of Denver, Inc.) is a Cannabis Roll-Up company focused on using equity to acquire profitable assets at attractive valuations to create value for all our shareholders and is driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis. CBDD has been able to build a strong European customer base by focusing on top quality products and meaningful customer relationships.
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Mellow Enterprise operates as a multi-brand eCommerce Marketplace, a full-service digital & performance marketing agency, as well as a market expansion service into international markets. Recently acquired by CBD of Denver, Mellow is playing a key role in expanding the CBDD business revenue streams, as well as diversifying the brand portfolio, as part of a commercial roll-up strategy. With offices in the UK and Switzerland CBDD is able to offer end-to-end service proposition for brands seeking to enter and/or operate across the UK / EU markets, including manufacturing, production, supply-chain, distribution, eCommerce and Marketing.
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Tokem is a revolutionary loyalty rewards program built for the ENTIRE cannabis industry. Unlike other reward programs, Tokem gives customers points and rewards for simply visiting a participating store and is not restricted to the large cannabis retailers - if there is a Tokem Affiliated Dispensary in your area, you can earn.
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Paul Gurney, CEO of Mellow Enterprise
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