American rapper Snoop Dogg bought out a group of virtually 1,000,000 non-fungible tokens (NFTs) on Telegram in half-hour on Wednesday, seemingly defying the notion that the NFT business is “useless.”
Snoop Dogg’s new digital reward assortment of round 996,000 non-fungible tokens (NFTs) powered by the TON blockchain is “impressed by Snoop’s iconic model” and generated $12 million in gross sales, Telegram founder Pavel Durov stated in an X publish on Wednesday.
“Blockchain minting and the secondary market go reside in 21 days. It’s going to be wild,” he added.
The tokens within the assortment included classic automotive, swag luggage, a digital canine, marijuana-related objects, and a mixture of different objects and symbols. Telegram Presents are animated pictures that may be displayed on a profile or transformed into the social platform’s in-app foreign money referred to as Stars.
Snoop Dogg drops new beat with NFT assortment
Snoop Dogg additionally launched a brand new observe titled “Presents” and a music video showcasing all of the obtainable collectibles.
Social media and YouTube customers referred to as Snoop’s collaboration with Telegram “legendary,” and others noticed the gathering promoting out as a bullish signal for NFTs, which have been combating tepid volumes and gross sales this yr.
In April, Cointelegraph reported that NFT volumes plunged 61% within the first quarter of 2025 to $1.5 billion in comparison with $4.1 billion a yr in the past.
Within the final 30 days, the gross sales quantity has plunged 41% to over $403 million, CryptoSlam information reveals, together with a greater than 55% drop in transactions.
Snoop Dogg’s assortment might spark NFT rally
An X person posting underneath the deal with Zenith, who works because the NFT lead at TON, stated in an X publish on Wednesday that unique Telegram presents usually are not new and have been round since not less than January, when a group referred to as “Plush Pepe” dropped.
Nonetheless, they speculate the constructive response to Snoop Dogg’s assortment “may very well be the beginning of a brand new NFT Narrative,” though additionally they stated “technically it couldn’t imply something.”
“Telegram Presents have probably the most distinctive utility and that’s the capacity to put on them in your Telegram Profile,” Zenith stated.
“I’d not be shocked if different well-known manufacturers or Web3 IPs wouldn’t wish to launch some presents too! Now, the query is will they? I truthfully don’t know, however I like to take a position,” they added.
Snoop Dogg is an previous hand within the NFT house
Snoop Dogg has been energetic within the NFT house because the tokens first gained mainstream recognition in 2021.
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In June 2023, he unveiled the Snoop Dogg Passport Collection, an NFT assortment that promised holders entry to content material similar to behind-the-scenes movies and pictures.
In the meantime, in February 2022, Snoop Dogg launched the Doggies NFT assortment as a part of a partnership with The Sandbox metaverse.
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