World-renowned Canadian rapper, Drake, has joined a host of other celebrities seeking to profit from the skyrocketing cannabis industry. After only a few months in the game, it appears Drake’s contributions could potentially help to shape the cannabis industry within Canada, which have experienced a few teething problems since the legalisation of recreational cannabis on November 18th.
The multi-grammy award winner, famous for number one tracks like ‘One’ in which he collaborated with Rihanna, had stated his intentions to create the ‘More Life Growth Company’, who are already placed to work with Canadian cannabis giants, Canopy Growth.
Canopy Growth is one of the biggest players in worldwide cannabis, boasting a market cap of $12 billion and a wealth of celebrity partnerships including Snoop Dogg, as well as Miley Cyrus and Mike Tyson.
Canopy Growth is focused on healthcare and consumer products, with a lot of investments into healthcare research and accessibility. Drake and More Life Growth Co. intend to expand on this mantra, with a press release describing the company as “centred around wellness, discovery, and overall personal growth with the hope of facilitating connections and shared experiences across the globe.”
More Life Growth & Drake
Drake has been pivotal in bringing rap back to its roots, taking it from its 2000s trend of being focused on guns and violence to a genre in which all concepts and content could be talked about. If this level of inventiveness, accessibility and ingenuity is brought towards attempts in the cannabis industry, then there’s no doubt he will help to shape the future of cannabis in Canada.
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In typical Drake fashion, the launching of More Life Growth was met with a myriad of social media posts that have attracted a vast amount of media attention. Firstly, an Instagram post of the company logo rotating in front of a biodome. There has also been a range of other posts showing that More Life Growth has been giving out high-quality bouquets of flowers to famous faces to help announce the launch of the brand.
In the media, there are hundreds of names that you associated with cannabis. Canopy Growth acquiring Snoop Dogg and Mike Tyson made sense given their history and outspoken activism regarding both recreational and medicinal cannabis use and with many social media posts from the pair being cannabis-related.
Drake, on the other hand, doesn’t seem to fit the bill in this regard. With cannabis references rarely featuring in any of his songs and no social media posts from him on the matter. However, Drake commands an impressive 53 million Instagram followers and is certainly one of the most successful male vocal artists ever. So, could this simply be a clever marketing strategy from Canopy Growth, who has been very open that they want to access full global recognition and reach a mass market.
The timing of More Life & Drake joining forces comes at a time when Canopy Growth endured a 60% drop in share value. It seems like it's either divine timing for Canopy Growth that Drake, a successful rapper with a net worth of $150 million, has just decided to get into an industry he has never worked in or been associated with and work with them. Or, it’s more like an effort from them to buck the trend that many top cannabis companies have been affected by in an attempt to turn the financial fortunes of the company around.