Las Vegas, Nevada - At 4:20PM PT on 4/20/2022, the auctioning of the world’s first NFT tube closed with a final bid by a private investor for $150,000.
Since EthDenver 2022, Jerome Baker Designs (JBD) has been privately auctioning off the 5 foot NFT Tube, known as ‘Burnt Orange.’
“The auction of Burnt Orange confirmed the suspicions I’ve had since 2017,” said JBD founder Jason Harris. “We wrote an internal white paper back then during the ICO mania about how we would tokenize our business, and just recently NFTs showed us a path forward in a manner with which I was comfortable and created a community.
We’ve been working on it all year so far, and this auction really is the culmination of a lot of theorizing and execution by a dedicated team. The successful sale of Burnt Orange is really the launch of what’s to come next for JBD as we tokenize our entire glass business, and proves the case for NFTs in the luxury goods market for everyone.”
After five years of deliberation, JBD is the first cannabis brand to tokenize its product line. All JBD tubes will soon come with a minted proof of title tied to a QR code blown into the glass. Simultaneously, JBD will also introduce a system by which to certify functional glass, with particular emphasis on JBD pieces from the nineties.
JBD has been known for its glass since 1992. Vintage JBD pieces still intact today sell for a considerable premium over their initial purchase prices. Over the years, a bustling secondary market for JBD glass has formed. NFTs would allow JBD to support this market.
“We see all the time pieces created in the nineties resold for premiums,” said Harris. “Moving forward, JBD wants to ensure such pieces have a record of ownership, which an NFT-based proof of title could provide.”
JBD won’t only be tokenizing its functional glass pieces. JB California, JBD’s California-based premium cannabis division, plans to launch a “smoke-and-earn” NFT-based rewards program, in which JBD NFT holders can earn further NFT rewards.
Lastly, JBD will launch in Q4 2022 BakerBots, the 30 year old cannabis brand’s flagship digital NFT collection. BakerBot holders will have opportunities to acquire additional NFTs, called Dabs.
JBD NFTs, whether phygital or digital, will offer a wide range of community benefits, including free access to events, special offers, and JBD-tailored experiences, such as taking glassblowing and painting lessons from Jason Harris himself or grabbing lunch with him and discussing business or glass.
During the nineties, JBD handcrafted functional glass pieces for George Clooney, Adam Sandler, Drew Berrymore, Mike Tyson, Snoop Dogg, B-Real, Nate Dogg, Exhibit, 311, Slightly Stoopid, Sublime, Tool, System of a Down, Phil Lesh (Grateful Dead,) System of a Down, EA Sports Executives, People Under The Stairs, Limp Bizkit and more. JBD pieces have been displayed at coffee shops and at art shows all across the world. Jerome Baker Designs produces today premium, American-Made functional glass. The collection is represented globally in the USA, Germany, Spain, Australia, Canada, and elsewhere. Jason Harris, JBD founder, was recently named one of the Top Ten glassblowers in the United States, and over the years JBD has taken home nearly a dozen High Times cannabis awards for excellence in glass.