Celebrities are en masse entering the legal cannabis market. They tap into all aspects of the industry, from venture capital funds to pharmacies and their own range of cannabis products. The cannabis industry is projected to soar to $ 75 billion by 2030, according to Cowen & Co.
An interesting market for the rich of the earth. Snoop Dogg recently participated with his company Casa Verde Capital with $50 million in funding for Metrc, which is developing track and trace compliance software for cannabis growers operating in states where production is legal. Financing rounds are for young companies that need capital for rapid development and growth to realize their potential. CultureBanx noted that this investment continues the company's policy of investing in companies that support growers and sellers. Snoop also co-owns Canopy Growth, a mega cannabis producer where he launched Leafs By Snoop. In October last year, he became a brand ambassador for Seedo Homelab.
Whoopi Goldberg and Montel Williams
Next up, we have actress, comedian and talk show host Whoopi Goldberg, who has her Whoopi & Maya line of cannabis products. She launched these products in 2016 with products aimed at women's wellness. Another talk show host fully involved in the cannabis game is Montel Williams, who has been using marijuana therapeutically to treat his multiple sclerosis for over a decade. Williams's most recent collaboration is with Cura Cannabis to produce its Lenitiv line of medical marijuana products. The medical cannabis industry holds the largest market share and is projected to exceed $ 97 billion globally by the end of 2026 according to Fortune Business Insights.
Hollywood to the cannabis
Rapper Jay-Z Carter entered into a partnership with cannabis brand Caliva in California. He has the role of Chief Brand Strategist at Caliva. Lil Wayne is also diving into the green gold and will be launching a range of cannabis products through GKUA this year. He's not the only hip-hop artist interested in the regulated cannabis market. US sales are up 2018% in 20 and an additional 36% last year according to Arcview Market Research.
Rapper Wiz Khalifa has already released a line of Khalifa Kush cannabis strains in partnership with Colorado-based RiverRock Cannabis. Draken also participates and launched his 'More Life Growth Company'. Also under the banner of Canopy Growth.
Read more forbes.com (Source, EN)
