American rapper Snoop Dogg successfully sold a collection of nearly a million NFTs on Telegram, generating $12 million in just thirty minutes. This sale sparked discussions about the current state of the NFT market.
NFT Sales on Telegram
The new digital gift collection, consisting of around 996,000 NFTs powered by the TON blockchain, was presented by Snoop Dogg on Telegram. Telegram founder Pavel Durov noted in a post on X that the sales reached $12 million, stating, 'Blockchain minting and the secondary market go live in 21 days. It’s going to be wild.'
Snoop Dogg's New Music Release
Snoop Dogg also released a new track titled 'Gifts' and a music video showcasing all available collectibles. Social media and YouTube users described Snoop's collaboration with Telegram as 'legendary' and saw the successful sell-out of the collection as a bullish sign for NFTs.
Potential of the New Collection and NFT Future
A user on X, known as Zenith and working as the NFT lead at TON, noted that original Telegram gifts are not new and have existed since January. He speculated that the positive reception of Snoop Dogg's collection 'could be the start of a new NFT narrative,' although he also mentioned, 'technically it could not mean anything.' Zenith highlighted the unique utility of Telegram Gifts, which allow users to display them on their Telegram profile.
Snoop Dogg's NFT collection sale on Telegram has emerged as a pivotal event in the current market landscape, raising hopes for a renewed interest in NFTs among users.
