We are currently living through a period of ‘psychedelic renaissance’, with an increased interest, both in clinical research and in society at large, in the use of psychedelic substances such as LSD, psylocybin, DMT and mescaline. This interest, however, has recently led to an increased influx of venture capital and a fast emerging psychedelic start-up ecosystem. In this article, I will discuss the metaphysical presuppositions of this psychedelic renaissance, and examine how these constitute the ‘pitfalls’ of a psychedelics ideology. I (...) will argue in favour of a new materialism, by and large inspired by Deleuze and Guattari, as a more suitable metaphysical framework to understand psychedelics. New materialism implies both a monistic as well as a political framework, in which the challenges of cognitive capitalism vis-à-vis the psychedelic renaissance can be framed more accurately. (shrink)