American rapper and activist, Snoop Dogg, invested in the European market for the first time in October 2021, with Portuguese medical cannabis company 'AceCann', which closed an initial funding round of €13 million.
Snoop continues to prove himself in the music business, at the same time as he proves himself in the cannabis industry, and with Germany's legalization of adult and medicinal use already announced, as the parties have held coalition talks, the rapper is already sniffing out a future. lucrative. He recently ended up investing just over €13 million in the Frankfurt-based distributor Cansativa, his biggest cannabis-related investments so far.
A startup Germany wants to use the money to enter the recreational cannabis market, being one of the growing companies in Europe. Although cannabis is illegal in most European countries, some countries allow its use for medicinal purposes and the industry is growing rapidly. According to the report released by the specialist consultancy firm Prohibition Partners, the legal cannabis market in Europe, including medical consumption and adult use, is expected to reach a value of 3,2 billion euros in 2025.
In 2020, 60 people had access to cannabis medicines for the first time in Europe, bringing the total to 185 patients that year. More European countries are also expected to consider legalization in the coming years.
The odds are that, whatever the difficulties, the German recreational market will dominate the European conversation. Germans are health-conscious and absolutely curious about cannabis at the moment. For that reason, Snoop Dogg is certainly smart and visionary.
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Marcel Lyra is a centhusiastic communicator of cannabis culture in Brazil, with training in the industry and the science of the plant, having acted as a representative and in the reception of a cannabis association. In the area of communication, he has already been part of audiovisual productions, also as a writer and broadcaster. An activist in favor of the legalization of cannabis, Marcel Lyra is now a journalist at Revista Ganja and a contributor to Cannareporter, helping to demystify the negative image surrounding the plant, always in favor of anti-prohibitionism.
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