Carmelo Anthony, the 10-time NBA All-Star player, recently announced the launch of his very own cannabis company. Dubbed StayMe70, this business venture will deliver a new line of high-quality tinctures, CBD formulations, and topicals to "promote healing and alleviate discomfort." However, StayMe70 Cannabis also has a philanthropic edge. A portion of the profits accumulated by the company will be redirected to NuProject, a non-profit organization launched by Jeanette Ward that works to "help communities affected by the War on Drugs."
About the charitable focus of his company, Carmelo Anthony shares: "This is a space with a long history of Black entrepreneurs getting penalized and judged, arrested, and locked up for cannabis. Now for it to be legal, it’s only right to open those doors back up for those who want to be in this game. Who are already in this game. Instead of it being so singular, how do we come together and work together toward a common goal? Everyone has cannabis out here, what separates you?”
Image Credit: Jemal Countess
What Makes This Trend Stand Out
- Celebrity-endorsed Cannabis Brands
- High-profile personalities venturing into cannabis create new market dynamics and consumer interest.
- Philanthropic Business Models
- Integrating social causes into business operations attracts customers who value social responsibility.
- Premium CBD Products
- The focus on high-quality CBD formulations signifies a shift towards more refined and effective wellness products.
Sectors Adopting This
- Cannabis Industry
- Innovations in this sector expand both the product range and the target audience, influencing market growth.
- Wellness Industry
- Cannabis-infused wellness products blur the lines between recreational and medicinal use, driving the industry's evolution.
- Social Enterprise
- Businesses using part of their profits for philanthropic efforts redefine success metrics and societal impact.
