New York's weed entrepreneurs look to hit it big

New York's recreational marijuana industry is expected to bring in several billions of dollars in sales in its first year after being legalised last month, and local entrepreneurs are hoping to finally cash in on the lucrative business - legally.

Jayson Albano reports.

From the street life - to the sweet life.

Legalization means New York's cannabis dealers are hoping to hit the big time.

"I'm from the old-school, man, we're afraid of the cameras." When it comes to weed, brothers Fetti and Solo, who declined to give their real names, have been around the block.

After New York state legalised marijuana at the end of March, it meant a chance for them to make an honest living, by building legitimate businesses.

Fetti is already feeling the high.

"I'm excited about it.

I think it's going to open up opportunities for a lot of young entrepreneurs.

Put your talents to work.

Let me see you get busy.

Let's become millionaires.

Yeah, that's what I wanna do." Research from fund tracker Global X predicts sales from recreational marijuana in New York state alone to hit $2.5 billion in its first year.

Others say it could be double that.

Solo says those who paid the price when weed was illegal should get the first slice of the pie.

"So, it's only right, you know, to make it fair to give the low-income, or what we call the hood, the first opportunity to open and establish and create our own.

And if we don't have the money, give us the right to team up with someone who has the money." And now that its legal, the brothers expect business to 'explode.'

"I am definitely a marketer, and I am definitely a promoter, you know?

And right now, branding is where it's at.

In New York City, you gonna see a lot of different brands.

Everybody is going to come out with a brand in New York City now, just like in L.A." Weed's legalisation in the state also came as a relief to the brothers on a personal level.

Its part of the culture in Jamaica, where they're from - as well as in hip-hop.

Fetti's first album under nickname 'JFK Fetti' releases in two weeks.

He says that legalising weed can let him feel more at ease and express himself better, without worrying about the law.