This year, the cannabis world has welcomed so many famous people. Some decided to become part of the industry as brand ambassadors, while others launched their own brands. Musicians, actors and athletes have expressed their love for the plant.
But why now?
Was it because the stigma around cannabis has faded more than ever before? Or, was it because of industry growth, which thus presented lucrative opportunities?
1933 Industries Inc. (OTCQX: TGIFF) CEO Paul Rosen told Benzinga that “the industry has crossed a tipping point from an object of curiosity to a recognized credible emerging asset class promising the potential of high growth.”
He explained that the COVID pandemic has enabled celebrities with new ways to monetize their brands, such as podcasts, Twitch performances and content subscription service OnlyFans.
For most celebrities, money is one important motivator.
“This is just another way for a celebrity to leverage their own brand equity and to be crass to make money," Rosen says. "They all have their own reasons, but behind the individual narratives the one common denominator is money which as far as I can tell celebrities like as much as anyone else.”
But there's at least one celebrity who is more spiritually motivated by cannabis.
Last week, guitar legend Carlos Santana spoke with Benzinga bout his creating high-quality cannabis and CBD brands via a partnership with Left Coast Ventures. In October, Mirayo by Santana — a line of cannabis products influenced by musician’s Latin heritage and dedication to spiritual well-being — was launched.
Santana grew up familiar with the plant’s healing properties, thanks to his mother. Throughout his career, he talked about the benefits of cannabis. From alleviating pain and stiffness to awaking consciousness and creativity.
It is certain, Santana’s approach to cannabis is spiritual.
"Cannabis is a window or a door to different awareness of consciousness," Santana says. He created Mirayo, which means “my ray” to help people find the light inside them.
Kristen Bell, star of Happy Place and Disney's Frozen, teamed up with Cronos Group Inc. (NASDAQ: CRON) to launch a CBD skincare brand Happy Dance.
“I don’t need another paycheck, so how are we going to do good in the community here,” she said. The Veronic Mars actress is reportedly engaged in all steps of creating the new brand.
She also chose to collaborate with A New Way of Life Entry Project, an organization that provides housing and pro bono legal services for women restoring their lives after prison.
The three initial products are cruelty-free and vegan, with affordable price tags. The company is donating one percent of profits from all products sold on the brand’s website to A New Way of Life Entry Project.
“As a working mom, I turned to CBD skincare as a way to turn down the volume of my life and CBD products have since become an essential part of my self-care routine,” Bell says.
In 2020, many celebrities looked after Santana or those who joined the space even before him — such as Seth Rogen and Evan Goldberg, and Snoop Dogg, and Karan Wadhera.