New Age Brands Inc. (OTCMKTS:NWGFF) estimates that the CBD industry will be worth more than $20 billion by 2022. As such, the firm is increasingly setting itself up to leverage the expanded demand and the revenue potential of the industry. Notably, the firm, through We Are Kured, its wholly-owned subsidiary, agreed to use MassRoots’ online platform to push CBD products.
Leveraging MassRoots’ large social media following
We Are Kured produces a CBD vaporizer pen which New Age Brands considers the best-selling CBD product of its class. Notably, the product is similar to an e-cigarette but with cannabidiol oil instead of tobacco. Interestingly, New Age cites CBD’s potential as facilitating treatment of a range of discomforts like inflammation, spasms, seizures and many more.
As per the company the agreement with MassRoots will make Kured’s CBD vaporizer pen the first of its kind on the platform. Interestingly, the product will now be available to the large social media following that MassRoots boasts. Further, customers can access the platform via smartphone apps available for both operating systems.
Meeting rising demand
The firm entered a similar deal early December last year with another online retailer. In particular, the agreement would see We Are Kured and Drink Fresh Water, both wholly-owned subsidiaries, sell their products over The Grown Depot platform. The “Drop Ship” agreement is a strategic partnership where the retailer markets the products while the company supplies them.
In anticipation of the ensuing demand, New Age Brands launched a novel vape option that contains 48% CBD oil. This new cartridge is the same size as the initial cartridges and contains the 5/10 thread, which is an industry standard. According to the firm, the need to stick with the standard is to ensure that the cartridges are compatible with vape battery options available.
Benjamin Martch, Founder and CEO of New Age said the new product is a response to requests by customers.
“After receiving multiple requests from customers and retailers, I am excited to soon be offering cartridges for sale on WeAreKured.com and retailers around the globe,” said Martch.