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In 2022, the cannabis industry was at its peak, and crowdfarming projects like Salvatara, Juicyfields, and many others appeared to offer a unique opportunity for investors to participate in the legal cannabis market of CBD without directly managing or selling. At the time, Salvatara marketed itself as a crow-growing business, enabling investors to support industrial, medical, and recreational hemp operations in Costa Rica, Colombia, and the USA. The company promises high-quality cannabis products, a strong health and wellness focus, and potential high returns on investment.

However, the reality turned out to be quite different.

The Original Salvatara Vision

Initially presented itself as a solution for individuals who lacked the space, resources, or expertise to grow their own cannabis. The platform offered plans allowing investors to fund large-scale hemp growth operations in exchange for returns, crypto coins or products. The company boasted a premium product line including tinctures, oils, extracts, and supplements, trying to position as a leader in health-focused cannabis products.

Salvatara’s product line still offers premium and all-natural cannabis products, including tinctures, oils, extracts, and supplements. At the beginning of this year, they released a new website with a lineup of “SALVA products”.

We do not know if the products reach your home after payment.

SALVATARA is founded on the premise that we must do good in every place we operate and every product that we serve our customers.

– Peter Whitney, CEO Salvatara Inc.

What Went Wrong?

For a while, Salvatara appeared to operate as promised, paying out returns to early investors. The company expanded its product offerings and continued to promote its mission of improving health and well-being. However, over time, it began to have significant issues, particularly after the collapse of another crowdfarming platform, JuicyFields.

• Impact of the JuicyFields Collapse: Following the exposure of JuicyFields as a scam, the entire crowd-growing sector took a hit, severely damaging investor confidence. Salvatara addressed this by asking its investors to wait, claiming they had been negatively impacted by this scandal. As a result, they began losing investors.
• Frozen Payments / Salvacoin: After freezing all payments, it was promised a transition to a new cryptocurrency, Salvacoin, as a solution. Investors were issued Salvacoins with the hope of future payouts. However, after distributing the tokens, the company and its website underwent a “restructuring,” and all communication about Salvacoin ceased.
• Lack of Communication: Investors were left with no updates, as the company stopped responding to inquiries. Today, the only functioning aspect is its product store, which continues to sell cannabis-related goods. However, any attempts to communicate with them regarding investments or Salvacoin are met with silence.

A Cautionary Tale for Future Investors

What began as a promising venture into the cannabis industry has left many investors with financial losses and no explanation. Salvatara’s shift from a “crowd growing” business to merely an online storefront selling products, alongside the failed transition to Salvacoin, has left a trail of disappointed and frustrated individuals.

If there’s one key takeaway from this experience, it’s the importance of exercising caution when investing in emerging industries or crowdfunded projects. What may initially seem like an innovative and exciting opportunity can sometimes lead to financial loss if the company fails to deliver or communicates poorly, as in the case of Salvatara.

However, not all crowd-growing ventures face the same fate. There are successful examples like Cannergrow in Switzerland, which continues to thrive with a transparent model and strong investor support. Another noteworthy initiative is Plaentz, a cannabis project that integrates Web3 technology (NFTs) into its operations and remains fully functional to this day.

These examples show that while some ventures may falter, others can succeed with the right mix of transparency, innovation, and investor trust. The key is to research thoroughly, and only invest in projects with a solid track record of delivery and communication.

References

• Salvatara.com
• Salva.shop
• Salvacoin.com

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