A cannabis-only coworking space is coming to Hollywood

Paragon says marijuana businesses have a hard time getting space

TRD LOS ANGELES /
Mar.March 14, 2018 05:00 PM
(Credit: Paragon Coin, Max Pixel)

You could call it a green space.

A company that wants to use the blockchain to legalize cannabis worldwide is creating a coworking space in Hollywood strictly for small companies and freelancers working in the legal pot industry.

Paragon is aptly calling its new space the Paragon Space, which will be located at 1459 Tamarind Avenue near Sunset Boulevard.

The space will only be accessible to companies and individuals that own Paragon’s cryptocurrency, PRG Coin, according to Curbed. Paragon also said on its website that it’s paying for the space in cryptocurrency. Customers will be buying snacks from its vending machine exclusively with PRG Coin as well.

Paragon created the space because it said marijuana industry startups have a hard time renting office or desk space at traditional spaces, according to Curbed. They also have a hard time buying space for a decent price.

Paragon plans to open the Paragon Space on July 1.

California’s recreational use marijuana laws went into effect in January, which allows adults to consume it recreationally and also legalized industry businesses, but Paragon is focused on cannabis’ medical uses.

According to its website, Paragon wants to “foster a community dedicated to the worldwide legalization and systematization of cannabis,” using the blockchain to create a network and record for growers, suppliers, doctors, and patients. One app in the works allows users to track a marijuana product back to its grower. [Curbed] — Dennis Lynch 


Related Articles

arrow_forward_ios
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Michaekl Rapino of LiveNation, Richard LeFrak, and 7060 Hollywood Boulevard

Live Nation’s Hollywood exit leaves big hole for LeFrak

Adam Bierman

Struggling cannabis retailer MedMen dumps REIT stake

arrow_forward_ios
Loading...