You have seen the press release picked up, well, everywhere. MSNBC, CNN, CNBC and every other BC there is out there on TV and the internet. Mike Tyson's press team did a masterful job getting headlines and links to the new Tyson's Bites, ear-bite, cannabis edibles. The question is not how the Tyson's new edibles will blast out of the gate, but what does their market-share look like in 9 to 12 months in competiive markets like California and Neveda?
Wait, I live under a rock, what are we talking about right now?
Popular veteran boxer Mike Tyson’s cannabis brand is launching Mike Bites which is so named after the infamous incident between the boxer and Evander Holyfield. This is not the first rodeo of the popular sportsman in the cannabis industry and so many are curious to know what to expect. In this article, we will be taking it back to the ring in 1997 where it all began. We will also be looking at the prospects of Mike Bites in the cannabis industry in the U.S. Read on as we look into the pros and cons of this new move.
The Infamous Fight between Mike Tyson and Evander Holyfield
For many boxing-faithful, the heavyweight championship match between Tyson and Holyfield is one of the greatest matches of all time. This is not only due to the caliber of the boxers on display but also the special events that surrounded the match at its end. This special match took place 25 years ago in a heavyweight match between the duo. Close to the end of the match, Tyson famously bit off a huge part of Holyfield’s right ear. This action will event0ually be very costly for Tyson as he would be disqualified from the World Boxing Association Heavyweight Championship in 1997. He would also go on to have his boxing license revoked and fined $3 million.
Leave it to Mike Tyson to turn such an event around and make it into an inspiration for a huge cannabis project. Mike Bites is the name of the special ear-shaped cannabis edible launched in reference to this event. The brand Tyson 2.0 posted a picture of Mike Bites on their Instagram and Twitter accounts on March 15. The gummies are created to be a replica of the portion of the right ear Mike Tyson cut off Holyfield’s cartilage.
Prospects of Mike Bites in the Cannabis Market
Yahoo! Finance had an interview with top personalities in the Tyson 2.0 cannabis brand about Mike Bites and what to expect. In the interview, Wilks told Yahoo! Finance that the announcement of Mike Bites took the market by storm and went viral immediately. He, therefore, affirmed that the brand wishes to capitalize on this by commencing marketing in California from March 17. This will then be followed by sales of the edible gummies in Nevada two weeks from that time, sales of the edible gummies in other states with legal recreational cannabis laws will progress steadily over the course of the coming weeks.
The Co-founder and Chairman of Tyson 2.0 Chad Bronstein also spoke to Yahoo! Finance in the same interview. He first went on the state that the relationship between Mike Tyson and Evander Holyfield is now very good despite the events of the match in 1997. He stated that both sportsmen have the highest form of respect for each other. This is easily corroborated by recent actions over the years. On a podcast ‘Hotboxin’ in 2019 which is hosted by Mike Tyson and Eben Britton, Holyfield stated that he had forgiven the boxer for his actions during their heavyweight match. It was on this same podcast that Tyson first pitched an ear-shaped candy to Holyfield.
Mike Tyson and the Cannabis Market
As said earlier, this is not Mike Tyson’s first time in the cannabis industry. He is one of the leading celebrities who have been at the forefront of pushing for reforms and advocacy to support the cannabis industry and cannabis businesses. Speaking on Mike Bites, the famous boxer jokingly responded to a tweet about the new product with “These ears taste good”. This shows the enthusiasm of the athlete towards the new project and how well he expects it to perform in the industry.
Tyson dabbled into a number of things after retiring from boxing in 2005 before ending up in the cannabis industry. He went into film acting for a while before delving into TV and podcasting work. He eventually entered into the cannabis industry where he has seen risen to be one of the few celebrities who have fully succeeded in the industry. The legalization of recreational cannabis in California in 2016 paved the way for Tyson’s growth in the cannabis industry.
Tyson’s first interjection into the cannabis market wasn’t as successful as he would have hoped. In 2017, after legalization, he set up the Tyson Ranch in the Southern part of California. The business seemed to have failed due to a lack of concrete and adequate cannabis knowledge coupled with poor management. In an interview with Westword in November 2021, Wilks stated that management of the ranch wasn’t what it should’ve been and that cost the business a lot.
Tyson 2.0 was the second interjection of the boxer into the cannabis industry in 2021 and this did better than its predecessor. Tyson 2.0 is a cannabis company based in California and high-quality cannabis products. The company also offers a full spectrum of cannabis concentrates, consumables, and flowers at different retailers nationwide. The company has since grown to foster expansion into Nevada and Massachusetts. Tyson 2.0 was built on taking advantage and making the most of the boxer’s national fanbase and this has yielded great results. Tyson’s testimonies with the natural herb have also done wonders. He is known to openly state that cannabis has been influential for him both mentally and physically. He has also relied on the herb for relaxation and mental alertness during his time in the boxing ring.
Bottom line
The early signs already show that Tyson and his cannabis brand might already have a gem on their hands in Mike Bites. It is then left to the brand to capitalize on the popularity the product currently has and transform it into profit. This apparent success of Mike Tyson in the cannabis industry is sure to attract other celebrities to explore how they can get a stand and be successful in the cannabis industry. As far as the cannabis market, the more input and investments in the industry, the more its growth and development.
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