SEATTLE — SinglePoint Inc. (OTCQB:SING) announces the official launch of the freshly revamped SingleSeed.com website, focused on selling cannabidiol (CBD) based products direct to consumer. A subsidiary of SinglePoint, SingleSeed has been actively operating in the cannabis space since 2014. Interest in CBD has increased tremendously over the years, and the CBD market is projected to hit $2.1 Billion by 2020, according to Forbes. SingleSeed is looking to capitalize in the space by creating and distributing hemp-based CBD products.
SingleSeed.com is now live and taking orders. Consumers can visit SingleSeed.com and use promo code SING on orders of $50 or more to receive a complimentary two-pack of the company’s hemp-based CBD capsules. The company is sourcing all of its CBD from U.S.-based hemp farms, all of which provide analysis of the product to ensure purity. SingleSeed is looking to position itself as the trusted, quality leader in the CBD market.
CBD products do not have any psychotropic effects and typically are used for medical purposes. Brightfield’s data estimates that hemp CBD sales have already hit $170 million in 2016 and at a 55 percent compound annual growth rate. A major benefit of hemp-based products is they can be sold globally, and with the power of e-commerce, SingleSeed will be making a major push to drive website traffic and convert sales.
The company is relying on the team’s history and expertise in payment and technology development to capitalize on the growing demand in the CBD market. SingleSeed has also engaged e-commerce experts to help drive online awareness and will also be working with online influencers to drive brand awareness.