To live the life to its fullest; to abuse of the lifestyle of sex, drugs and rock n roll. The word can be used as a noun(BlackLabelry) Adjective(BlackLabeler), Verb(I BlackLabel, you BlackLabel, he BlackLabels, we BlackLabel, they BlackLabel) and as an Adverb(BlackLabelingly), whichever one the situation may require. The term was very recently coined.
"Yo man how are you doing?"
"Nothin much dude, just BlackLabelin´"
"I live for BlackLabelry."
"Yo Dave is such a BlackLabeler"
"Paul spent his weeked BlackLabelingly"