July 11, 2025
Snoop Dogg’s newest NFT launch hints at a significant shift out there.
Snoop Dogg is continuous his enterprise enterprise within the NFT house along with his newest digital partnership that bought out in minutes.
On June 9, the enduring hip-hop mogul partnered with cloud-based messaging app Telegram to debut the platform’s first-ever superstar digital present drop, TMZ reviews. The launch noticed an “unprecedented” response, with practically 1,000,000 non-fungible tokens (NFTs) bought on Telegram in simply half-hour.
The success counters the prevailing narrative that the NFT market is “useless.” To amplify the launch, Snoop dropped a brand new monitor referred to as “Presents,” accompanied by a music video showcasing the complete lineup of digital collectibles, together with a classic automotive, swag baggage, a digital canine, cannabis-themed objects, and quite a lot of different symbols.
Following the launch, Telegram founder Pavel Durov took to X to boast in regards to the $12 million created from Snoop’s newest NFT drop. In accordance with Durov, the gathering was “impressed by Snoop’s iconic fashion.”
“Blockchain minting and the secondary market go stay in 21 days. It’s going to be wild,” he added.
The Presents Snoop simply bought out of on Telegram are animated visuals customers can showcase on their profiles or convert into the platform’s in-app foreign money, Stars. Whereas the characteristic is gaining traction, the broader NFT market has struggled in 2025, with volumes dropping 61% in Q1 to $1.5 billion, down from the $ 3.8 billion it generated the yr prior. Over the previous 30 days alone, gross sales quantity has declined by one other 41% to only over $403 million, with transactions down by greater than 55%, in keeping with CryptoSlam.
Nonetheless, Snoop’s sold-out NFT drop might sign a shift out there. An X person, who leads NFT technique at TON, pointed out that Telegram items aren’t fully new; collections like “Plush Pepe” had been launched in January. Nonetheless, they famous the overwhelming response to Snoop’s assortment “may very well be the begin of a brand new NFT narrative,” whereas additionally acknowledging that “technically it couldn’t imply something” long-term.
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