Takeaway: Post Malone the popular “Better Now” singer announced his plans for entering the cannabis industry. Another stellar addition to the “high” ranks of Snoop Dogg, Whiz Khalifa and others. The Post Malone bud will be sold under the brand name of “Shaboink”. Amongst all the statistics that shows how lucrative is the business of CBD, entries of hollywood stars attracts more users. A profitable industry is seldom without celebrities. The cannabis industry is expected to double in revenue every year. Since legalization last year, here has been a steep increase in demand of CBD.
If you still think the legal marijuana industry isn’t yielding growth each year, you better think again. Recently, more and more new start-ups are shooting up everywhere in the cannabis industry. But, when you see Hollywood artists and top entertainers branching off from their regular showbiz into legal marijuana trading, then know there is real potential in the industry.
Post Malone, whose real name is Austin Richard Post has announced plans to start a new cannabis company. The American rapper and songwriter will be following in the footsteps of Snoop Dogg, Whiz Khalifa, Rick Ross, Method Man and Redman, and few other singers who have towed this line. The Post Malone weed business will bear the name, “Shaboink,” which will officially launch on the 4th of July 2019, the date Post Malone will be celebrating his birthday.
What is Shaboink?
Shaboink is a term coined by Post Malone, which he uses to describe wild sex by two people fornicating in a rampaging spontaneous format. Post Malone plans to use Shaboink to advance and monetize his passion for weed. Shaboink represents the second attempt by Post Malone to monetize his belief and desire. It could be recalled that in November 2018, the “Better Now “ hip pop artist collaborated with Crocs to create a collection for their campaign tagged “Come As You Like.”
What to expect from Shaboink
Shaboink will especially be involved in the production of a certain line of flower, vaporizers, and pre-roll joints. It can be recalled that the expected Post Malone weed business debuted and mark its place at the marijuana trade show, Hall of Flowers, held at the Santa Rosa Sonoma County Fairgrounds, in CA. However, Shaboink will officially roll out its products in dispensaries across the state, starting from July 4, the day marking the 24th birthday of Pot Malone.
Hemper, an accessories company located in New York, will most likely be the one to manufacture all packaging needs for Shaboink’s product line and its broad red and yellow branding. On the other hand, Shaboink also has plans to get involved in the selling of other accessories like rolling papers, hats and stickers.
What is Shaboink likelihood of success?
Well, it’s normal when people wonder who will buy the new product. But, rest assured, someone would surely buy the product. To confirm this, go through the Post Malone merch store and see if there is a market for anything the rapper put his name onfrom flashlights to soccer balls. That way, we can tell that the Post Malone weed business will surely bring in the cash for the Beerbongs & Bentleys singer.
Post Malone is launching Shaboink right in the middle of a series of a successful commercial campaign. The rapper is currently on a world tour and was on ground to perform at the Grammy Awards ceremony held this year. Post Malone’s “Sunflower,” a hit single featuring Swae Lee went number one on top of the Billboard’s January hot 100 charts. That happens to be the rapper’s third hit single to reach the top of the charts, following in the footsteps of “Rockstar” in 2017, and “Psycho” in 2018. From these indications, it is safe to say that Post Malone will succeed in his new cannabis venture.
There Have Been Others Before Post Malone
As mentioned earlier, many celebrities have taken this road before, and Post Malone was not the only singer to have featured his proprietary marijuana line at the expo ground. Other celebrities like The Game and Chelsea Handler have also used the expo to hawk their weed ventures. Of particular interest is The Game who happens to be one of the early celebrities to enter into the cannabis industry. It was a remarkable achievement when in 2017 the rapper sold his Santa Ana dispensary (The Reserve) for $7 million.
Given such positive outcomes, the Post Malone weed business should come out lucrative, considering the popularity of the rapper and previous commercial successes.
A Profitable Prospect Ahead For The Cannabis Industry
The US marijuana market is experiencing a boom like never before. The market is ten times the size of the Canadian market, and the fledgling medical marijuana market in states like New York, Illinois and Nevada are experiencing rapid and increase growth. The growth and expected gains outpace the ones recorded in the Canadian market for the last year.
Another favorable aspect that contributes immensely to this new growth is the rapid political reforms sweeping across the US. Following the presidential support for Colorado’s Senator Gardner sponsored cannabis bill, a safe haven was created for companies producing legal marijuana to thrive. The icing on the cake was the radical changes in the Farm Bill passed in 2018, which legalizes hemp for industrial purposes—all of these contributed to the estimated $25 billion market value the industry is forecasted to hit by 2025. The fact that the market is currently valued at $428 million further indicates that the growth potential would be higher by the last quarter of 2019. The continuous entrance of new companies like the Post Malone weed business will keep driving this expectation to the point of realization.
The cannabis business is experiencing a massive wave of investment, as it seems. More and more products are entering the markets, and the boom includes investments from artists who love weed.
Many people, particularly celebrities are learning fast to diversify their income making sources, and the legal CBD market offers a nice and profitable choice for everyone.
Post Malone has taken a giant stride towards monetizing what he has faith in, and what has been a promising prospect since cannabis and hemp receives positive reviews from the government to advance its course. The numbers of celebrities who have entered into the cannabis industry has gone up a notch, and from all indications, this trend will continue. Medical marijuana is undoubtedly one of the most focus points for new and upcoming investors in the cannabis market.