Metatron Inc (OTCMKTS:MRNJ) recently announced that it has signed a letter of intent that will facilitate its development of a mobile application for Petmojo.com.
Metatron will develop the app a platform through which Petmojo.com will sell CBD products for pets as indicated in the letter of intent. Petmojo has a strong team that has been in the e-commerce sector for more than 20 years and also boasts of 15 years’ experience operating luxury pet services in Orange County California. They have therefore been able to foster a strong relationship with a lot of pet owners.
The strong relationship between Petmojo.com and thousands of its customers provides an opportunity to introduce high-quality pet products designed using hemp. The company plans to use the upcoming app as a platform where pet owners can purchase the hemp oil-based pet products. This will also help to make sure that the products have a nation-wide reach.
Pet products made using CBD represent a huge potential market
Analysts estimate that CBD-based pet and animal product sales will reach $125 million in the next three years. This means that it is one of the fastest growing CBD market sectors and it also explains why companies like Petmojo.com are determined to secure a lead in the market through its e-commerce strategy. It also makes more sense to currently pursue e-commerce sales for CBD-based pet and animal products because traditional retailers do not sell such products.
Petmojo.com is optimistic that pet and animal products that are made using CBD will continue to rise in popularity especially due to hemp legalization. U.S legislators signed the Farm bill into law in 2018, thus pulling down hemp from the list of substances covered by the Controlled Substances Act. This allowed hemp to gain legal status in the U.S, thus making it possible and legal for U.S consumers to buy CBD products.
Retailers have also been hard at work making sure that the CBD products are available online and also in brick and mortar stores. Metatron’s role in the recent development will be to bridge the gap between Petmojo.com’s products and the customers through the retail app that it will develop. Neither of the two firms has revealed further details about the terms of the deal.