Snoop Dogg’s NFT Gift Launch Sells Out in Minutes: A Digital Phenomenon!
Snoop Dogg’s NFT Launch Signals a Potential Market Revival
A New Chapter in NFTs
Snoop Dogg is making waves in the NFT arena once again with a recent collaboration that has captured significant attention.
Record-Breaking NFT Drop
On June 9, the legendary rapper teamed up with the cloud-based messaging platform Telegram to unveil its inaugural celebrity digital gift drop. According to reports from TMZ, the event experienced an extraordinary surge in interest, resulting in nearly one million NFTs being sold within just half an hour.
This remarkable success challenges the common belief that the NFT market is in decline. To enhance the launch, Snoop released a new single titled “Gifts,” along with a music video that highlighted an array of digital collectibles, including a vintage vehicle, swag bags, a digital canine, cannabis-themed merchandise, and various other unique items.
Financial Success and Future Prospects
Following the launch, Telegram’s founder, Pavel Durov, took to social media to announce that Snoop’s NFT drop generated an impressive $12 million. Durov noted that the collection drew inspiration from Snoop’s distinctive style.
He also mentioned that blockchain minting and the secondary market would become operational in 21 days, hinting at exciting developments ahead.
The NFTs sold during this event are animated visuals that users can display on their profiles or convert into Telegram’s in-app currency, Stars. While this feature is gaining popularity, the overall NFT market has faced challenges in 2025, with trading volumes plummeting by 61% in the first quarter to $1.5 billion, a significant drop from the $3.8 billion recorded the previous year. In the last month alone, sales volume has decreased by an additional 41%, totaling just over $403 million, with transaction numbers falling by more than 55%, as reported by CryptoSlam.
A Shift in the NFT Landscape?
Despite the broader market struggles, Snoop’s successful NFT launch may indicate a turning point. An X user, who specializes in NFT strategy at TON, pointed out that while Telegram gifts are not entirely new—collections like “Plush Pepe” were introduced earlier this year—the overwhelming enthusiasm for Snoop’s collection could mark the beginning of a new narrative in the NFT space. However, they also cautioned that this might not necessarily have lasting implications.
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